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) reported a strong second quarter 2021 with net earnings of $1,012 million ($3.53 per diluted share), a rebound from a net loss of $589 million in the same quarter last year. Adjusted net earnings were $964 million, showing significant improvement. Total net sales reached $5,025 million, compared to $2,091 million in Q2 2020. The company announced plans for up to $1 billion in debt reduction over the next 12 months, in addition to a prior commitment of $2.2 billion.
CEO David Burritt highlighted record adjusted EBITDA margins and ongoing investments in sustainability.
United States Steel Corporation (NYSE: X) announced the release of its second quarter 2021 financial results on July 29, 2021, following the close of trading. A webcast will be held on July 30, 2021, at 8:30 a.m. EDT, featuring key officials, including CEO David B. Burritt. The session will discuss the financial outcomes and potential forward-looking information. U. S. Steel, a prominent steel producer, emphasizes its Best for All strategy and innovation in serving various industries with high-value steel products.
United States Steel Corporation (NYSE: X) has awarded scholarships to twenty children of employees, funded by the U. S. Steel Foundation. Each scholarship is valued at $10,000, renewable for up to four years. Since 1995, nearly $4 million has been granted to over 400 recipients. This initiative underscores the company’s commitment to supporting the education of employees' families while promoting leadership and community involvement among students. U. S. Steel continues to innovate in providing high-value steel products, targeting sectors such as automotive and construction.
United States Steel Corporation (NYSE: X) has signed a non-exclusive Memorandum of Understanding (MOU) with Equinor US Holdings Inc. to explore carbon capture and storage (CCS) and hydrogen development in Ohio, Pennsylvania, and West Virginia. This initiative aims at achieving net-zero carbon emissions by 2050, focusing on the potential for a hydrogen hub in the Mon Valley. The MOU outlines assessments of regional hydrogen and CCS viability, emphasizing the importance of natural gas coupled with CCS for decarbonization efforts.
United States Steel Corporation (NYSE: X) has forecasted a strong second quarter for 2021, estimating adjusted EBITDA of approximately $1.2 billion and an adjusted net income of $880 million. This marks a significant improvement compared to Q1, primarily due to rising steel prices and solid demand in flat-rolled steel. The company plans to redeem its 6.875% Senior Notes due 2025 for approximately $718 million. Positive trends in several segments, including Flat-rolled and Mini Mill, contribute to optimistic market outlooks for 2022.
United States Steel Corporation (NYSE: X) announced the redemption of its $718 million in 6.875% Senior Notes due 2025, with a total payment of approximately $730 million due to a redemption premium of 101.719%. This will be funded with cash on hand and is set for August 15, 2021. U. S. Steel is committed to strengthening its balance sheet, as emphasized by CEO David B. Burritt, highlighting operational performance and value unlocking through non-core asset sales.
United States Steel Corporation (NYSE: X) has agreed to sell Transtar, LLC to Fortress Transportation and Infrastructure Investors LLC for $640 million, expected to close in Q3 2021. This sale supports U. S. Steel's focus on core mining and steelmaking activities, unlocking immediate value for shareholders. Proceeds will enhance the balance sheet, including deleveraging. A 15-year contract will maintain operations at six railroads. The transaction emphasizes aligning operations under the Best for All strategy to further bolster growth and stability.
United States Steel Corporation (NYSE: X) has declared a $0.01 per share dividend, payable on June 9, 2021 to stockholders of record by May 10, 2021. Founded in 1901, the company is a major steel producer with an annual raw steelmaking capability of 26.2 million net tons. U. S. Steel employs a customer-centric strategy, focusing on innovation and sustainability, serving a diverse array of industries, including automotive and construction. Additionally, it operates the subsidiary Big River Steel, reinforcing its commitment to advanced steel production.
FAQ
What is the current stock price of United States Steel Corporation (X)?
What is the market cap of United States Steel Corporation (X)?
What does United States Steel Corporation do?
Where is United States Steel Corporation headquartered?
What are the main operating segments of U. S. Steel?
How much steel does U. S. Steel produce annually?
Which industries does U. S. Steel serve?
What sets U. S. Steel apart from other steel producers?
What recent achievements has U. S. Steel made?
What is U. S. Steel's approach to sustainability?
How does U. S. Steel maintain its competitive edge?
What is the importance of U. S. Steel’s global outlook?
