U.S. Steel reports Q4 adjusted EPS (13c), consensus (26c)

Reports Q4 revenue $3.51B, consensus $3.24B. Commenting on the Company’s fourth quarter performance, U. S. Steel President and Chief Executive Officer, David B. Burritt said, “Our fourth quarter adjusted EBITDA of $190 million demonstrates continued strong performance amidst a sequentially weaker average selling price and demand environment across all our operating segments. Our results included better than expected cost performance in the North American Flat-Rolled segment and improved volumes in the Mini Mill segment later in the quarter. The North American Flat-Rolled segment generated 10% EBITDA margin, benefiting from a resilient commercial strategy, diverse product mix and continued focus on cost control. Our Mini Mill segment included initial shipments from our new, state-of-the-art Big River 2 (“BR2″) mill, which partially offset the impact of planned maintenance activity at Big River Steel during the quarter. When adjusting for $50 million in construction and ramp-up costs for strategic projects at Big River, the Mini Mill segment delivered 8% EBITDA margin. USSE earnings were pressured by continuing challenges in the pricing and demand environment. Tubular earnings were stronger sequentially in the fourth quarter driven by higher shipments.”