U.S. Steel Announced Bullish Outlook for 2022

SEATTLE (Scrap Monster): Pittsburgh-based United States Steel Corporation (U.S. Steel) shared bullish outlook for the upcoming year, building on the strong performance during 2021. Also, the company provided fourth quarter 2021 adjusted EBITDA guidance of nearly $1.65 billion.

Commenting on its outlook, David B. Burritt, President and Chief Executive Officer, U.S. Steel said that the business hit record safety, quality and reliability levels. It expects strong performance in 2022 and beyond. After transforming the balance sheet and boosting direct returns to shareholders, the company is confident of delivering better earnings stability next year, he added.

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The Q4 2021 guidance indicates another quarter of strong performance, despite a temporary slowdown in order activity, mainly due to typical seasonal year-end buying activity. U.S. Steel expects the steel super cycle to continue. It foresees robust free cash flow, strong liquidity to fund strategic investments. In addition, it looks forward to additional opportunities to enhance its capital allocation priorities.

The flat rolled, mini mill and the tubular segments are expected to deliver improved EBITDA performance, whereas the European segment EBITDA is feared to witness decline in Q4 this year.