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United States Steel Corporation (commonly known as U. S. Steel), headquartered in Pittsburgh, PA, is a leading integrated steel producer with significant production operations in both the United States and Central Europe. With an annual raw steelmaking capability of 24.4 million net tons, U. S. Steel manufactures a diverse range of value-added steel sheet and tubular products that cater to varied industries including automotive, appliance, container, industrial machinery, construction, and oil and gas.
Founded over 110 years ago, U. S. Steel has consistently focused on delivering cost-effective solutions to meet customer needs. The company operates through several key segments: North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment, which includes integrated steel plants and equity investees in North America, is involved in the production of slabs, strip mill plates, sheets, and tin mill products, and manages all iron ore and coke production facilities in the U. S.
U. S. Steel’s operations are marked by efficiency and advanced technology, coupled with a strong customer focus. The company continually seeks opportunities to expand its presence globally and strives to meet and exceed world-class standards in all its endeavors. This commitment to innovation and excellence is reflected in its projects and partnerships, which aim to strengthen its market position and competitive edge in the global marketplace.
Recent achievements highlight U. S. Steel’s strategic initiatives to enhance its production capacities and product offerings. The company is actively involved in various projects aimed at improving sustainability, reducing carbon emissions, and advancing new steelmaking technologies. U. S. Steel’s financial condition remains robust, supported by its diverse product portfolio and strong customer relationships.
United States Steel Corporation (NYSE: X) has announced a significant enhancement to its warranty for GALVALUME® coated steel coils, doubling the coverage from 20-25 years to 40-60 years, effective for coils shipped from January 1, 2023. This decision reflects the product's growing success in both residential and nonresidential markets and aims to bolster builder confidence with superior performance against extreme weather conditions. The upgraded warranties underscore U.S. Steel's commitment to sustainable and high-quality building materials.
United States Steel Corporation (NYSE: X) has appointed Christian Gianni as Senior Vice President & Chief Technology Officer (CTO) and John Gordon as Senior Vice President, Raw Materials & Sustainable Resources. These appointments aim to enhance U. S. Steel’s Best for All strategy, focusing on innovation, customer-centric steel solutions, and optimizing raw material supply chains. Gianni joins from Deka Research, while Gordon has a background in mining with experience at Johnson Matthey and Freeport-McMoRan. Both will report to President & CEO David B. Burritt.
United States Steel Corporation (NYSE: X) has ratified new four-year collective bargaining agreements with the United Steelworkers (USW) covering approximately 11,000 employees. These agreements, retroactive to September 1, 2022, will extend until September 1, 2026. CEO David B. Burritt expressed satisfaction with the agreements, emphasizing a balance among employees, customers, and shareholders. The negotiations utilized overfunded Other Post-Employment Benefit (OPEB) plans to enhance employee benefits. U.S. Steel continues to focus on innovation, sustainability, and operational excellence in its strategic plans.
United States Steel Corporation (NYSE: X) announced Andrea J. Ayers' election to its Board of Directors. Ayers previously served as President and CEO of Convergys Corporation from November 2012 to October 2018 and has held various leadership roles in the customer management sector. She has been on the board of Stanley Black & Decker since 2014, becoming Chair in April 2022. U. S. Steel, founded in 1901, is a leading steel producer with a focus on safety and innovation, providing high-value steel products across multiple industries.
United States Steel Corporation (NYSE: X) announced its fourth quarter 2022 guidance, projecting adjusted EBITDA of approximately
Trane Technologies (NYSE: TT) is partnering with Nucor Corporation (NYSE: NUE) and U.S. Steel (NYSE: X) to purchase low-carbon steel for its HVAC solutions. This move aims to significantly reduce carbon emissions, with an annual reduction expectation of nearly 16,000 metric tons, equivalent to powering over 55,000 homes for a year. The steel purchased represents 20% of Trane's annual steel needs, and is 80% less carbon intensive than traditional steel. Trane aims for 50% net-zero steel procurement by 2030 and 100% by 2050.
United States Steel Corporation (NYSE: X) has announced a tentative four-year contract agreement with the United Steelworkers (USW) for approximately 11,000 employees. The agreement focuses on rewarding employees with strong wage increases and enhanced benefits, leveraging the company’s robust financial standing. CEO David B. Burritt emphasized that the deal aligns with the company’s strategy of mutual benefit for employees and stakeholders. Key features include maintaining an uncapped profit-sharing plan. The agreement is subject to ratification and aims to reinforce employee satisfaction and operational stability.
United States Steel Corporation (NYSE: X) has declared a $0.05 dividend per share on its Common Stock. This dividend is set to be paid on December 8, 2022, to stockholders recorded by the close of business on November 7, 2022. Founded in 1901, U. S. Steel is a prominent steel producer focusing on safety and sustainability, serving various industries with high-value steel products. The company boasts an annual raw steelmaking capacity of 22.4 million net tons and operates extensively across the United States and Central Europe.
United States Steel Corporation (NYSE: X) reported third quarter 2022 net earnings of $490 million, or $1.85 per diluted share, a significant decrease from $2,002 million ($6.97 per share) in Q3 2021. Adjusted net earnings for Q3 2022 were $516 million ($1.95 per share), down from $1,638 million ($5.70 per share) year-over-year. EBITDA was $848 million. The company faced demand headwinds and increased raw material costs, with free cash flow of $1,647 million year-to-date. U.S. Steel anticipates continued challenges but aims for a second-best financial year.
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