U. S. Steel - X STOCK NEWS

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.

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 $375 million and adjusted net earnings per diluted share in the range of $0.58 to $0.63. President David B. Burritt noted strong commercial demand and increasing scrap prices. However, the Mini Mill segment is expected to report negative EBITDA due to high-cost raw material consumption and reduced selling prices. The company anticipates returning about $150 million to stockholders and has repurchased approximately 15% of shares since December 2021.

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.