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BRIEF-United States Steel Sees Q3 2020 Adjusted Loss Per Share About $1.45

BY Reuters
— 9:08 AM ET 09/18/2020

Sept 18 (Reuters) - United States Steel Corp (X):

* ORATION PROVIDES THIRD QUARTER 2020 GUIDANCE

* SEES Q3 2020 ADJUSTED LOSS PER SHARE ABOUT $1.45

* Q3 2020 ADJUSTED EBITDA IS EXPECTED TO BE APPROXIMATELY $100 MILLION LOSS

* IMPROVING MARKET CONDITIONS EXPERIENCED IN JUNE AND JULY HAVE ACCELERATED THROUGH AUGUST AND SEPTEMBER

* HAVE GROWN CONFIDENT IN RECOVERY THAT IS UNDERWAY IN NORTH AMERICA AND EUROPE

* BY END OF QUARTER, PLAN TO REPAY APPROXIMATELY $900 MILLION OF U.S. ABL

* EXPECT FLAT-ROLLED SEGMENT RESULTS TO BE NEGATIVE IN Q3

* RESPONDED TO IMPROVING ORDER BOOK BY RESTARTING THREE BLAST FURNACES THAT WERE TEMPORARILY IDLED EARLIER THIS YEAR

* EXPECT TWO BLAST FURNACES TO REMAIN TEMPORARILY IDLED THROUGH YEAR-END

* IN EUROPE, PACE OF MARKET IMPROVEMENT HAS ALSO EXCEEDED EXPECTATIONS.

* IN TUBULAR, MARKET CONDITIONS APPEAR TO HAVE BOTTOMED, BUT CATALYSTS FOR IMPROVEMENT ARE LIMITED.

* Q3 EARNINGS PER SHARE VIEW $-1.53 -- REFINITIV IBES DATA Source text for Eikon: Further company coverage:

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

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