U.S. Steel Raises Q3 EPS guidance to $1.10-$1.15/share above consensus $0.97
All operating segments outperformed earlier Q3 estimates, adj EBITDA of ~$550M
UAW strike will cause temporary idle blast furnace B at Granite City Works The move effectively suspends steelmaking operations at Granite City after the company idled the mill’s other blast furnace months ago.
The company said it sees its Flat-Rolled segment’s Q3 adjusted EBITDA broadly in-line with Q2, as average selling prices will come in slightly higher than previously expected even as spot prices declined, which is a key driver to the better than expected performance in this segment.
$X up 1.1%