Welcome to our dedicated page for U. S. Steel news (Ticker: X), a resource for investors and traders seeking the latest updates and insights on U. S. Steel stock.
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) will release its financial results for Q1 2023 on April 27, 2023, after NYSE trading closes. A webcast detailing these results is scheduled for April 28, 2023, at 8:30 a.m. ET. Investors can submit questions through Say Technologies from April 13 to April 27, which will be addressed during the webcast. U.S. Steel emphasizes its commitment to safety and sustainability through its Best for All® strategy while serving diverse industries including automotive and construction. The company has an annual raw steelmaking capability of 22.4 million net tons.
United States Steel Corporation (NYSE: X) has announced the launch of its new electrical steel product, InduX™, set to begin production at the Big River Steel facility in Osceola, Arkansas, in summer 2023. This ultra-thin, lightweight steel is designed for use in electric vehicles, generators, and transformers, enhancing motor efficiency and vehicle mileage. Production is expected to reach 200,000 tons per year with a capital expenditure of approximately $450 million, funded by cash from Big River Steel. This initiative bolsters American jobs and the domestic supply chain while aligning with U. S. Steel's sustainability goals, including a target of net-zero GHG emissions by 2050.
U.S. Steel has launched its inaugural podcast series, Steel Stories by U.S. Steel, hosted by David Kirkpatrick. The podcast aims to explore the dynamic steel industry, featuring insights from industry experts on topics like decarbonization and the role of steel in modern society. The first episode highlights sustainability in non-residential construction, featuring guests from Canam Steel Corporation and U.S. Steel. Upcoming episodes will include discussions on sustainable financing and innovations in steelmaking. This initiative aligns with U.S. Steel's commitment to lead in sustainability and contribute to a net-zero greenhouse gas emissions goal.
United States Steel Corporation (NYSE: X) announced its first quarter 2023 guidance, projecting adjusted EBITDA of approximately
United States Steel Corporation (NYSE: X) has entered a non-binding Memorandum of Understanding with CarbonFree Chemicals Holdings to explore carbon capture at U.S. Steel's Gary Works facility in Indiana. The innovative SkyCycle technology aims to capture and mineralize up to 50,000 metric tons of CO2 annually, significantly reducing emissions equivalent to nearly 11,000 passenger cars. Discussions will continue with a definitive decision expected by the end of 2023, targeting operational commencement in 2025. This initiative aligns with U.S. Steel's sustainability goals and showcases potential for broader carbon capture projects.
United States Steel Corporation (NYSE: X) announced the election of Alicia J. Davis to its Board of Directors, effective March 1, 2023. Ms. Davis serves as Chief Strategy Officer at Lear Corporation, where she leads corporate strategy and drives acquisitions and investment initiatives. She has held various senior roles at Lear and previously worked in academia and at major law and investment firms. With a strong educational background, including degrees from Yale Law School and Harvard Business School, her experience is expected to enhance U. S. Steel's strategic direction and innovation in the steel industry.
United States Steel Corporation (NYSE: X) announced its supply agreement with General Motors (NYSE: GM) for its verdeX® steel, which produces up to 75% fewer emissions compared to traditional methods and consists of up to 90% recycled content. This steel will be manufactured at Big River Steel, a facility certified under LEED and ResponsibleSteel™. Shipping will begin this year. The company is also constructing a $3 billion facility in Osceola, Arkansas, to enhance production. U. S. Steel aims for net-zero greenhouse gas emissions by 2050, being the first North American steelmaker to join ResponsibleSteel™.
United States Steel Corporation (NYSE: X) has initiated consent solicitations for its outstanding notes and bonds, aiming to amend the Indentures and Bond Documents. The company plans to simplify its capital structure and enhance financial flexibility by conforming its obligations across different indentures. Holders of the 6.625% Senior Secured Notes due 2029, totaling $720 million, and Arkansas Development Finance Authority Bonds will receive a $10 cash payment per $1,000 principal amount for valid consents delivered by February 14, 2023. BofA Securities is the solicitation agent for the Notes, while U.S. Bank Trust Company and D.F. King & Co. manage the Bonds and consent processes.
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