Steel Mills
December 20, 2019
U.S. Steel Expects Earnings Loss in Q4
Written by Sandy Williams
U.S. Steel anticipates an EBITDA loss of $25 million in the fourth quarter of 2019, which excludes about $225 million in estimated restructuring and other charges.
Fourth-quarter results were negatively impacted by lower steel selling prices in the third quarter and in October, which impacted about 60 percent of shipments, said U.S. Steel in its earnings guidance. Lower shipment volume is also expected to impact earnings along with a $15 million charge resulting from the Nov. 27 flooding at Gary Works.
