United States Steel (X) Expects Record Q3 EBITDA

United States Steel Corporation (NYSE: X) today provided its Q3/21 outlook, expecting quarterly adjusted EBITDA to be around $2.0 billion, versus $1.3 billion for Q2/21. According to David B. Burritt, President and CEO of United States Steel Corporation, the expected Q3 adjusted EBITDA will be a record result for the company, supported by strong reliability and quality performance, sustained customer demand, and continued increases in steel selling prices.

The Company also provided an update on deleveraging activity for the year, noting that year to date it has reduced its debt by around $2.7 billion and will continue to evaluate opportunities to accelerate the pace of deleveraging through the remainder of the year, projecting the ratio of net debt to adjusted EBITDA to be approximately 0.6 times at the end of the quarter.

Shares of X fell 3% after-hours despite the news.

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