U.S. Steel Restores Profitability in 2017, but Lower Steel Prices Will Drive Guidance Shortfall
U.S. Steel rebounded in a big way in 2017, as adjusted earnings per share recovered to $1.94 from a $1.60 loss in the prior year. Adjusted EBITDA more than doubled to $1.1 billion in 2017 from only $510 million year on year. With 2018 market conditions already exceeding our admittedly cautious expectations, we've increased our near-term profit outlook. Additionally, although the company's asset revitalization plan will require massive cash outlays in the coming years, it should materially improv...United States Steel is a steel producer of flat-rolled and tubular products with production operations in the United States and Europe. The company is also engaged in railroad services and real estate operations. The company's segments are: North American Flat-Rolled, which produces slabs, strip mill plates, sheets and tin mill products; U. S. Steel Europe, which produces and sells slabs, strip mill plate, sheet, tin mill products and spiral welded pipe, as well as heating radiators and refractory ceramic materials; and Tubular Products, which produces and sells electric resistance welded steel casing and tubing (known as oil country tubular goods), and standard and line pipe and mechanical tubing.
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