United States Steel Corporation provided preliminary unaudited third quarter 2019 results to support the Company's upcoming capital market activities. We currently expect third quarter 2019 net loss to be in a range of $94 – $84 million, or $0.55 – $0.49 per diluted share. Adjusted net loss is expected to be in a range of $45 – $35 million, or $0.26 – $0.20 per diluted share. In addition, we expect adjusted EBITDA to be in a range of $134 – $144 million, which excludes approximately $9 million of estimated third quarter impacts from the December 24, 2018 fire at our Clairton coke making facility and approximately $54 million of estimated restructuring charges. Stronger shipments and better than expected manufacturing performance in our Flat-rolled segment, as well as a contingency gain from recovered claims arising out of the bankruptcy of a supplier drove better than expected results.
Our preliminary unaudited financial data was prepared by management and is based solely on information currently available to management. This preliminary unaudited financial information is not a comprehensive statement of our financial results for the third quarter 2019, and remains subject to, among other things, the completion of our financial closing procedures, final adjustments and completion of our internal review. As a result, our final results may vary materially from the preliminary estimates. We plan to report third quarter 2019 financial results after market close on October 31, 2019.
source: USS |
