US Steel expects to reported adjusted net earnings of $265 million in the first quarter, not including impacts related to its acquisition of Big River Steel and financing costs, Kallanish learns from the company. 

Q1 sales are expected to be about $540 million. 

In Q1 2020, US Steel posted a net loss of $391m and an adjusted net loss of $123m. It was profitable in Q1 2019, reaching net earnings of $54m and adjusted net earnings of $81m. 

“Strong market conditions and our well-timed acquisition of Big River Steel are allowing us to drive significant earnings growth,” says US Steel ceo David Burritt. “Healthy flat-rolled customer demand across most end-markets and the flow-through of higher steel prices are resulting in substantially higher results from our flat-rolled and US Steel Europe segments and our newly formed ‘mini mill’ segment, which will showcase the performance of Big River Steel.”

Burritt adds that the company is “...increasingly bullish” due to market fundamentals, slim inventories, demand levels, and “...pent-up infrastructure demand.”