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.
Nextracker has announced the reopening of the Bethlehem Steel manufacturing factory in Leetsdale, Pennsylvania, in collaboration with BCI Steel. This marks Nextracker's third new factory as part of its initiative to expand its solar tracker production capacity to 10 GW annually. The factory will utilize both new and reshored equipment and aims to meet the growing demand for solar trackers in the Mid-Atlantic and Heartland regions. Nextracker is focused on enhancing U.S. solar supply chains and has already procured over 100,000 tons of U.S.-made steel this year.
United States Steel has announced a significant $3,459,554 award from the DOE for a front-end engineering design study on carbon dioxide removal technologies. The University of Illinois will lead the study at U.S. Steel's Gary Works in Indiana, utilizing direct air capture technology to remove 5,000 metric tons of CO2 annually and mineralize it in concrete. This initiative supports U.S. Steel's goal of achieving net-zero emissions by 2050 and emphasizes collaboration and innovation in carbon capture.
United States Steel Corporation (NYSE:X) announced its second quarter 2022 guidance, projecting an adjusted EBITDA of approximately $1.6 billion, marking a record performance. Expected adjusted net earnings per diluted share will range from $3.83 to $3.88. CEO David Burritt highlighted strong demand across diverse markets and a solid balance sheet with no major debt until 2029. The company repurchased $320 million in stock, with $210 million remaining under the current buyback authorization.
United States Steel Corporation (NYSE: X) has appointed Jessica T. Graziano as Senior Vice President and Chief Financial Officer, effective August 8, 2022. Reporting directly to CEO David B. Burritt, Graziano will oversee finance functions, including financial planning, accounting, and investor relations. With eight years at United Rentals and prior experience at Revlon, Graziano aims to enhance U. S. Steel’s Best for All strategy. The company focuses on sustainable steel solutions and maintains an annual raw steel production capability of 22.4 million net tons.
United States Steel Corporation (NYSE:X) and the Pittsburgh Penguins announced a joint effort for an $18 million capital campaign to renovate the Braddock Carnegie Library. Co-chaired by hockey legend Bryan Trottier and U. S. Steel's CEO David B. Burritt, this initiative aims to modernize the library, enhancing access and facilities for approximately 15,000 residents in the Mon Valley. U. S. Steel contributes $500,000 to kickstart fundraising, which has already garnered $8 million from various foundations. This community-focused project emphasizes education and accessibility.
United States Steel Corporation (NYSE:X) has declared a $0.05 dividend per share, payable on June 8, 2022, to shareholders on record as of May 9, 2022. The company, established in 1901, emphasizes safety and sustainability through its Best for All® strategy. U. S. Steel produces high-value-added steel products for critical industries like automotive and energy, with an annual production capability of 22.4 million net tons.
United States Steel Corporation (NYSE: X) reported record first quarter 2022 net earnings of $882 million, equating to $3.02 per diluted share, a significant rise from $91 million in Q1 2021. Adjusted net earnings were $891 million, or $3.05 per diluted share. Total net sales surged to $5.234 billion, up from $3.664 billion year-over-year. Adjusted EBITDA reached $1.337 billion, highlighting strong operational performance despite global challenges. The Mini Mill segment demonstrated robust growth with 38% EBITDA margins, and the company generated over $400 million in free cash flow.
United States Steel Corporation (NYSE: X) will announce its Q1 2022 financial results on April 28, 2022, after market close. A webcast is scheduled for April 29, 2022, at 8:30 a.m. ET to discuss results and company updates. This quarter, U. S. Steel is enhancing investor engagement by partnering with Say Technologies to take questions from investors before the earnings call. Key executives, including David B. Burritt, will participate in the webcast. Investors can access the webcast via the U. S. Steel website.
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