U.S. Steel Bullish on 2022 After Strong Start to the Year

U.S. Steel Corp. expects to see record EBITDA for the first quarter totaling approximately $1.3 billion, a new all-time high for the period. In guidance issued Thursday, the steelmaker forecast adjusted diluted earnings per share in the range of $2.96 to $3.00.

“We expect to deliver another strong quarter of safety, adjusted EBITDA, free cash flow, and operational performance,” U.S. Steel President and CEO David Burritt said. “At the beginning of the year, we expected market softness for the first quarter, along with the normal seasonal impacts related to our mining operations. We are exiting the first quarter with spot business accelerating, steel prices rising, and the longest backlog at our Big River Steel operations since October.”