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U.S. Steel (NYSE:X) said Monday it expects Q2 adjusted earnings of $1.81-$1.86/share, above the $1.76 analyst consensus estimate, helped by higher selling prices and steady demand for its products.
The company also said it forecasts Q2 adjusted EBITDA of $775M, below analyst consensus of ~$792M, and a quarter-ending cash position of ~$3B; it also expects to complete $75M of stock repurchase in the quarter under its existing $500M buyback authorization.
U.S. Steel (X) said it expects Flat-Rolled segment adjusted EBITDA to exceed Q1 totals, increased realization of higher steel prices and the absence of Q1 seasonal mining operation headwinds.
The company also anticipates Q2 Mini Mill segment adjusted EBITDA will be higher than Q1, the European segment is expected to return to positive adjusted EBITDA, and Tubular segment adjusted EBITDA should remain strong but lower than Q1.
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