United States Steel Provides Fourth Quarter 2022 Guidance

United States Steel announced that October-December quarter of adjusted EBITDA is expected to be approximately USD 375 million and adjusted net earnings per diluted share is expected to be in the range of USD 0.58-0.63. US Steel President & Chief Executive Officer Mr David B Burritt said “December commercial demand in the US is better and scrap prices have begun to increase this month. Flat-rolled customer inquiries are accelerating and spot steel selling prices are improving.”The Company continues to monitor its order book to ensure its footprint supports customers’ needs. Below is a summary of actions taken or recently announced.Blast Furnace 3 at Mon Valley Works: Blast furnace 3 remains temporarily idled. The Company pulled forward a planned outage on blast furnace 3 at Mon Valley Works from October to September. Blast furnace 3 has approximately 1.4 million net tons of annual raw steel equivalent capability.Blast Furnace 8 at Gary Works: Blast furnace 8 remains temporarily idled. The Company temporarily idled blast furnace 8 at Gary Works due to market conditions and continued high levels of imports. Blast furnace #8 has approximately 1.5 million net tons of annual raw steel equivalent capability.Tin Line 5 at Gary Works: Tin line 5 remains temporarily idled. The Company temporarily idled tin line 5 at Gary Works due to market conditions and elevated levels of tin product imports. Tin line #5 has approximately 140,000 net tons of annual capability.Blast Furnace 1 at U. S. Steel Kosice: Blast furnace 1 remains temporarily idled. The Company intends to restart production at blast furnace 1 in early January. The Company temporarily idled blast furnace 1 at USSK in early December due to soft market demand, high energy prices, and elevated imports. Blast furnace 1 has approximately 1.6 million net tons of annual raw steel equivalent capability.Blast Furnace 2 at USSK: Blast furnace #\2 remains temporarily idled. The Company pulled forward a planned outage on blast furnace 2 at USSK from October to September. Blast furnace 2 has approximately 1.7 million net tons of annual raw steel equivalent capability.Mr Burritt added “We are entering 2023 from a position of strength. Our commissioned pig iron facility at Gary Works will begin delivering cost-advantaged pig iron to Big River Steel in the first half of 2023 and is the latest example of meeting our commitment to deliver our Best for All initiatives on-time and on-budget.

United States Steel Provides Fourth Quarter 2022 Guidance

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