U.S. Steel (NYSE: X) reported Q1 EPS of $0.32, $0.03 better than the analyst estimate of $0.29. Revenue for the quarter came in at $3.15 billion versus the consensus estimate of $3.15 billion.

2018 Guidance

Commenting on U. S. Steel’s guidance for 2018, Burritt said, "We are beginning the second year of our asset revitalization program, and we are already seeing benefits from the investments in our assets. It is prudent for us to anticipate the possibility of continued operational volatility for those assets yet to be revitalized. We remain focused on managing operating volatility to ensure we take care of our customers, and the restart of steelmaking at Granite City will increase our ability to do so. While there is uncertainty about how country exemption and product exclusion requests related to Section 232 will be resolved, we continue to invest in revitalizing our assets and developing innovative customer solutions. We are confident we will deliver our 2020 performance objectives."

Currently, we are experiencing operational challenges at our steelmaking facility at Great Lakes Works that we expect will have an unfavorable EBITDA impact of approximately $30 million on second quarter results. We currently believe that second quarter 2018 adjusted EBITDA will be approximately $400 million, and full-year 2018 adjusted EBITDA will be approximately $1.7 - $1.8 billion.

The Company will conduct a conference call on first quarter 2018 earnings on Friday, April 27, at 8:30 a.m. Eastern Daylight. To listen to the webcast of the conference call and to access the company's slide presentation and prepared remarks, visit the U. S. Steel website, www.ussteel.com, and click on the “Investors” section. Replays of the conference call will be available on the website after 10:30 a.m. on April 27.

Please refer to the non-GAAP Financial Measures section of this document for the reconciliation of Guidance net earnings to consolidated Guidance adjusted EBITDA.

For earnings history and earnings-related data on U.S. Steel (X) click here.