lyash01/iStock via Getty Images

lyash01/iStock via Getty Images

U.S. Steel (NYSE:X ) -4.1% post-market after providing Q1 adjusted earnings guidance of $2.96-$3.00/share, below Q4 adjusted EPS of $3.64 and the Q1 $3.77 analyst consensus estimate, with adjusted EBITDA at ~$1.3B.

U.S. Steel expects its flat-rolled segment's adjusted EBITDA to be impacted by ~$150M related to the seasonal mining headwinds that occur each year in Q1, as well as increased raw material costs, and a larger than expected headwind from cautious spot market activity.

The company expects its mini mill segment to continue delivering adjusted EBITDA margins similar to 2021 levels, reflecting the segment's high-quality earnings.

U.S. Steel said recent geopolitical events are increasing spot steel demand, particularly at the Big River Steel operations, resulting in a growing backlog of orders.

After Thursday's close, Nucor also provided below-consensus guidance for Q1 adjusted earnings.