PITTSBURGH, June 17, 2024 – United States Steel Corporation (NYSE: X) today provided second quarter 2024 adjusted net earnings per diluted share guidance of $0.76 to $0.80. Second quarter 2024 adjusted EBITDA is expected to be approximately $425 million. Commenting on second quarter guidance, President and Chief Executive Officer David B. Burritt said, “We continue to run our business safely as we make progress towards closing our transaction with Nippon Steel Corporation. Adjusted EBITDA guidance of $425 million is at the lower end of our prior second quarter outlook and reflects stable domestic flat-rolled steel end-use demand despite a dynamic spot steel pricing environment. In Europe, we recently restarted our temporarily idled blast furnace in response to improving customer demand.

The European segment’s adjusted EBITDA is expected to be lower than the first quarter. Lower volumes are expected due to blast furnace #2 being temporarily idled for a portion of the quarter, in response to soft demand earlier in the quarter. Since then, demand has modestly improved resulting in an expected average selling price similar to the first quarter.