United States Steel Corporation - X STOCK NEWS

U. S. Steel employees are hosting a rally at the Mon Valley Works Clairton Plant to support the Nippon Steel transaction. The event brings together represented and non-represented employees, community members, and local officials to advocate for the deal's approval.

Nippon Steel has committed to providing $5,000 bonuses to eligible USW-represented and non-represented employees within 30 days of deal closing, totaling nearly $100 million. The company also pledged to invest $2.7 billion in union-represented facilities, including $1 billion specifically for Mon Valley Works.

In Pennsylvania, the investment is expected to generate $1 billion in economic impact, create 5,000 construction jobs, and contribute up to $40 million in state and local taxes within the first two years. The partnership aims to strengthen U.S. national security, economic security, and job security while modernizing steelmaking operations.

The U.S. Department of Commerce has released preliminary findings regarding oil country tubular goods (OCTG) from Argentina and Mexico. The investigation found that Argentine OCTG from Tenaris' Siderca S.A.I.C was being dumped at a rate of 6.80%, while Mexican OCTG from Tenaris' Tubos de Acero de Mexico was dumped at 30.38% during 2022-2023.

Currently, Tenaris' imports remain subject to cash deposits of 78.3% for Argentine OCTG and 44.93% for Mexican OCTG. Argentine OCTG is additionally subject to a Section 232 quota of 148,000 metric tons annually. U. S. Steel (NYSE: X), which produces billets and seamless OCTG in Fairfield, Alabama, expressed concerns that Argentine dumping rates might be higher than preliminary findings suggest.

United States Steel (NYSE: X) has announced a dividend of $0.05 per share of Common Stock, payable on December 11, 2024, to stockholders of record as of November 11, 2024. The company, founded in 1901, is a leading steel producer with an annual raw steelmaking capability of 25.4 million net tons. U.S. Steel serves various industries including automotive, construction, appliance, and energy with high value-added steel products, including their proprietary XG3® advanced high-strength steel. The company maintains iron ore production operations across the United States and Central Europe.

United States Steel (NYSE: X) reported third quarter 2024 net earnings of $119 million, or $0.48 per diluted share, compared to $299 million in Q3 2023. Adjusted net earnings were $140 million, or $0.56 per diluted share, down from $350 million last year. The company achieved adjusted EBITDA of $319 million, showing resilience despite weaker selling prices. Big River 2 achieved first coil production with customer shipments expected in Q4. For Q4 2024, the company expects adjusted EBITDA between $225-275 million, with slight decreases in North American Flat-Rolled segment and weaker European results.

U. S. Steel (NYSE: X) is featured in an episode of 'Inside the Blueprint', airing on Bloomberg TV on October 19 at 5:00 pm ET. The 30-minute episode showcases U. S. Steel's role in American infrastructure, steelmaking processes, and commitment to sustainability, safety, and innovation in automotive, construction, and renewable energy sectors.

Key U. S. Steel team members highlighted include:

• Dan Brown - discusses the company's legacy and 'Best of Both' strategy
• Erika Chan - focuses on sustainability efforts and net-zero goals
• Ghazal Sayed-Mousavi - explains the steelmaking process and innovation
• Rob Kopf - outlines contributions to various industries

The episode aims to provide viewers with an inside look at U. S. Steel's operations and its impact on modern infrastructure and industry.

United States Steel (NYSE: X) has announced that it will release its third quarter 2024 financial results on Thursday, October 31, 2024, after the close of trading on the New York Stock Exchange. Due to the pending acquisition by Nippon Steel , announced on December 18, 2023, the company will not hold an earnings conference call. Instead, U. S. Steel will concurrently issue an earnings release, presentation, and segment and financial operational data.

These materials will be accessible on the company's website at www.ussteel.com under the 'Investors' section. U. S. Steel, founded in 1901, is a leading steel producer with an annual raw steelmaking capability of 22.4 million net tons. The company serves various industries with high value-added steel products and maintains iron ore production operations.

U. S. Steel released an economic impact analysis conducted by Parker Strategy Group, assessing the potential impact of Nippon Steel's proposed $1 billion investment to modernize U. S. Steel's Mon Valley Works following their pending merger. The study focuses on a $600 million construction project in Pennsylvania, with various spending scenarios.

Key findings include:

• An 80% in-state spending scenario would generate a $952.9 million incremental economic impact over two years
• Creation of nearly 5,000 construction jobs
• Generation of $38 million in taxes

The investment aims to extend the production life of integrated assets and enhance steel supply security for American manufacturers. U. S. Steel CEO David B. Burritt emphasized the positive economic impact on Pennsylvania communities and families.

U. S. Steel (NYSE: X) announced that the Board of Arbitration has ruled in favor of the company, affirming that it has satisfied all conditions of the successorship clause in its Basic Labor Agreement (BLA) with the United Steelworkers (USW). This ruling resolves all BLA issues between U. S. Steel and USW, clearing the way for Nippon Steel to acquire U. S. Steel without further action under the BLA.

The Board recognized Nippon Steel's commitments, including a $1.4 billion investment in USW-represented facilities, no layoffs or plant closings during the BLA term, and protection of U. S. Steel's interests in trade matters. U. S. Steel and Nippon Steel are progressing through U.S. regulatory reviews and aim to close the transaction by the end of this year.

U. S. Steel's Big River Steel facility in Osceola, Arkansas, has become the world's first to achieve ResponsibleSteel Certified Steel status. This certification, following its 2022 ResponsibleSteel Site Certification, demonstrates U. S. Steel's commitment to sustainability and responsible practices across its supply chain. The ResponsibleSteel International Production Standard includes 13 principles with over 500 criteria for responsible steel sourcing and production.

The certification process evaluates environmental, social, and governance requirements, focusing on responsible sourcing of input materials and site-level decarbonization. U. S. Steel has achieved Progress Level 1 certification, showcasing its integrated approach to sustainability. This achievement provides customers with assurance of sustainably sourced and manufactured steel, setting a new benchmark for the global steel industry.