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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 closed $290 million in unsecured green bonds for environmentally friendly projects. The funds will be used for the development of sustainable facilities, including the construction of the Big River 2 steelmaking plant in Arkansas, set to be completed in 2024. The company also repurchased $300 million of debt at a discount, saving approximately $5 million in annual cash interest and extending debt maturity by two years. These actions are part of U.S. Steel's strategy to reduce greenhouse gas emissions while strengthening its financial position.
United States Steel Corporation and its subsidiaries have announced the early results of their tender offers for up to $300,000,000 in securities, now increased to $300,859,000. The offers include the 6.875% Senior Notes due 2029, 6.650% Senior Notes due 2037, and 6.625% Senior Secured Notes due 2029. As of the early tender date on August 30, 2022, a total of $350,529,000 of Securities was tendered, with acceptance priority levels influencing the final amounts accepted. The early settlement date is expected on September 1, 2022.
United States Steel Corporation (NYSE: X) and its subsidiaries have announced tender offers to purchase up to $300 million in aggregate principal amount of specific senior notes, including:
- 6.875% Senior Notes due 2029
- 6.650% Senior Notes due 2037
- 6.625% Senior Secured Notes due 2029
The tender offers will expire on September 14, 2022, unless extended. Holders are urged to review the Offer to Purchase dated August 17, 2022, for detailed terms.
United States Steel Corporation (NYSE: X), Equinor US Holdings (NYSE: EQNR), and Shell US Gas & Power (NYSE: SHEL) have established a Cooperation Agreement to develop a clean energy hub in Ohio, Pennsylvania, and West Virginia. This initiative aims to create job opportunities, stimulate economic growth, and significantly reduce carbon emissions by focusing on carbon capture, utilization, and storage (CCUS) along with hydrogen production. The project aligns with the shared goal of achieving net-zero emissions by 2050. Funding applications will be submitted to the US Department of Energy.
United States Steel Corporation (NYSE: X) has awarded $200,000 in scholarships to 20 children of employees across the U.S., funded by the United States Steel Foundation. This initiative has provided over $4 million in scholarships since 1995, honoring students based on academic achievement and community involvement. Each recipient receives a $10,000 scholarship, renewable for up to four years, to support further education in accredited colleges or vocational schools. The awards reflect U.S. Steel's commitment to its workforce and their families.
United States Steel Corporation (NYSE: X) announced a dividend of $0.05 per share of common stock, payable on September 8, 2022. This dividend will benefit stockholders who are on record as of August 8, 2022. Founded in 1901, U.S. Steel is a leading steel producer, focusing on safety and innovation with high value-added products. The company operates with an annual steelmaking capability of 22.4 million net tons and serves diverse industries including automotive and construction. For more details, visit www.ussteel.com.
United States Steel Corporation (NYSE: X) reported a record second quarter 2022, achieving net earnings of $978 million, or $3.42 per diluted share. Adjusted net earnings were $1,104 million ($3.86 per diluted share) compared to $1,012 million ($3.53) in Q2 2021. The company announced a new $500 million stock buyback authorization, having completed an $800 million buyback program. Despite strong performance across segments, the company indicated a softening in consumer markets like automotive, while energy demand is accelerating. Q2 adjusted EBITDA reached a record $1,620 million.
United States Steel Corporation (NYSE: X) will release its second quarter 2022 financial results on July 28, 2022, after market close. A webcast discussing these results is scheduled for July 29, 2022, at 8:30 a.m. ET. Investors can submit questions via Say Technologies until July 27, 2022. Key executives, including CEO David B. Burritt, will participate in the call. U. S. Steel is focused on safety and innovation, serving various industries with advanced steel products and maintaining an annual raw steelmaking capacity of 22.4 million net tons.
United States Steel Corporation (NYSE: X) has announced plans to enhance its low-cost iron ore capabilities by upgrading operations in Minnesota and partnering with SunCoke Energy to repurpose blast furnaces in Illinois. The company is set to invest approximately $150 million in producing Direct Reduced (DR)-grade pellets, providing essential feedstock for electric arc furnaces (EAFs). Additionally, a non-binding agreement with SunCoke outlines a potential deal for pig iron production. These initiatives aim to bolster U. S. Steel's self-sufficiency and competitive advantage in the steel market.
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