U.S. Steel Corp. lowered its 2015 guidance following a
disappointing quarter for its flat-rolled segment, which was hurt
by "massive" amounts of imports.
The company said "the headwinds we faced entering 2015 have
intensified, " and the company is "currently operating in the face
of extremely difficult conditions, particularly in North
America."
U.S. Steel expects adjusted earnings before interest, taxes,
depreciation and amortization of $700 million to $900 million for
the year, down from its January guidance of $1.1 billion to $1.4
billion.
In late trading, shares fell 6.5% to $25.04.
Write to Josh Beckerman at josh.beckerman@wsj.com
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