United States Steel Corp (NYSE:X) Q2 2023 Earnings Conference Call July 28, 2023 8:30 AM ET

Company Participants

Kevin Lewis - Vice President, Finance

David Burritt - President and Chief Executive Officer

Jessica Graziano - Senior Vice President and Chief Financial Officer

Richard Fruehauf - Senior Vice President and Chief Strategy and Sustainability Officer

Conference Call Participants

Tristan Gresser - BNP Paribas Exane

Carlos De Alba - Morgan Stanley

Curt Woodworth - Credit Suisse

Alexander Hacking - Citi

Operator

Good morning, everyone, and welcome to the United States Steel Corporation Second Quarter 2023 Earnings Conference Call and Webcast. As a reminder, today's call is being recorded.

I'll now hand the call over to Kevin Lewis, Vice President, Finance. Please go ahead.

Kevin Lewis

Okay, thank you, Tommy. Good morning, and thank you for joining our second quarter 2023 earnings call. We hope everybody is having a great summer.

Joining me on today's call is US Steel President and CEO, Dave Burritt, Senior Vice President and CFO, Jessica Graziano; and Senior Vice President and Chief Strategy and Sustainability Officer, Rich Fruehauf.

This morning, we posted slides to accompany today's prepared remarks. These can be found on the US Steel Investor Relations page, under the overview section. We also recently launched a new Investor Relations website, which includes a Quarterly Investor and Strategy Presentation. We hope that you've had a chance to review the slide deck and have found it useful.

Before we start, let me remind you that some information provided during this call may include forward-looking statements that are based on certain assumptions and are subject to a number of risks and uncertainties, as described in our SEC filings, and actual future results may vary materially.

Forward-looking statements in the press release that we issued yesterday, along with our remarks today are made as of today, and we undertake no duty to update them as actual events unfold.

I would now like to turn the conference call over to US Steel President and CEO, Dave Burritt. And he will begin this morning's call on slide four.

David Burritt

Thank you, Kevin and good morning to all of you joining us. We are grateful for your continued interest in US Steel and look forward to updating you on our business.

We delivered a strong second quarter, reflecting solid market fundamentals and strong operational performance. We generated $804 million in adjusted EBITDA and 16% EBITDA margin. This includes an industry leading 23.5% adjusted EBITDA margin for our Mini Mill segment. Of course, strong performance begins with safe operations.