With adjusted EBITDA of US$2.0 billion, up from the second quarter’s adjusted EBITDA of approximately US$1.3 billion, the third quarter of 2021 is expected to be strong due to solid customer demand and increased steel pricing.
 
“We expect the third quarter to be a quarter of records for U. S. Steel,” David B. Burritt, U. S. Steel’s president and chief executive, said in the announcement.
 
“We remain bullish that market fundamentals will support a stronger for longer steel market and we’ve accelerated the pace of deleveraging to clear the path to transitioning to our ‘Best for All’ future faster. Our best days are ahead.”
 
Also in the press release, U. S. Steel gave an update on deleveraging activity, which has yielded a debt reduction of approximately US$2.7 billion.
 
The company expects its flat-rolled, mini-mill and European segments to set records in the third quarter as demand remains strong.
 
Read the full announcement here.