1734 ET - U.S. Steel says recently higher steel prices should help boost 2Q results from its flat-rolled steel business, but warns that production outages for maintenance work will likely shrink some gains. "We do expect a partial offset from lower shipments as a function of planned maintenance activity and outage costs," the company says in its earnings release. The company did not specify where the work will occur. First quarter profit from its flat-rolled unit, the steelmaker's biggest business, fell by 33% from a year earlier to $104 million. Overall, US Steel reported adjusted EBITDA of $172 million that beat analysts' expectations. The company's 1Q net loss was $116 million from $3.72 billion of sales in the quarter. Shares slightly higher in after hours trading. (robert.tita@wsj.com)
(END) Dow Jones Newswires
May 01, 2025 17:34 ET (21:34 GMT)
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