Welcome to our dedicated page for United States Steel Corporation news (Ticker: X), a resource for investors and traders seeking the latest updates and insights on United States Steel Corporation 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) 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.
United States Steel Corporation (NYSE: X) announced a dividend of $0.05 per share, payable on March 14, 2023. This dividend will benefit stockholders on record as of February 13, 2023. U. S. Steel, founded in 1901 and headquartered in Pittsburgh, is a leading steel producer with a strong focus on innovation and safety. The company produces high-strength steel products, serving various industries like automotive and construction, and boasts an annual raw steelmaking capacity of 22.4 million net tons. The announcement reflects U. S. Steel's commitment to delivering value to its shareholders.
United States Steel Corporation (NYSE: X) reported fourth quarter 2022 net earnings of $174 million or $0.68 per diluted share, down from $1.07 billion in Q4 2021. Adjusted net earnings for Q4 2022 were $226 million, $0.87 per diluted share, reflecting a decline from $1.43 billion or $5.01 in Q4 2021. Full-year 2022 figures showed net earnings of $2.52 billion ($9.16 per diluted share), compared to $4.17 billion in 2021. The company achieved adjusted EBITDA of $431 million for Q4 2022, a decrease from $1.73 billion in the same period last year. U. S. Steel returned $900 million to stockholders in 2022 and anticipates continued shareholder rewards in 2023.
United States Steel Corporation (NYSE: X) will release its financial results for Q4 and full year 2022 on February 2, 2023. The earnings webcast is scheduled for February 3, 2023 at 8:30 a.m. ET, where management will discuss the outcomes and company updates. Investors can submit questions through Say Technologies until February 2, which will be addressed in the webcast. U. S. Steel is focused on innovation in high-strength steel products and has an annual raw steelmaking capacity of 22.4 million net tons. For more information, visit www.ussteel.com.
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.
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