United States Steel Corporation - X STOCK NEWS

U. S. Steel (NYSE: X) has been recognized as a 'Best Place to Work for Disability Inclusion' for the fourth consecutive year, achieving a top score of 100 on the Disability Equality Index®. This recognition demonstrates the company's commitment to strengthening inclusion and leveraging the skills of people with disabilities.

Key points:

• U. S. Steel maintains a Culture of Caring with inclusive workplaces
• The SteelABILITY employee resource group contributes to disability awareness
• The company views disability inclusion as a distinct business advantage
• CEO David B. Burritt signed Disability:IN's CEO Letter on Disability Inclusion

This achievement validates U. S. Steel's efforts to be inclusive of people with disabilities and enhances its reputation for having DE&I integrated into its business strategy.

United States Steel (NYSE: X) will release its Q2 2024 financial results on August 1, 2024, after market close. This follows their December 18, 2023, merger agreement with Nippon Steel Due to the pending merger, no earnings conference call will be held. Instead, the company will provide the earnings release, presentation, and financial data concurrently on their website. U. S. Steel, founded in 1901, is a major steel producer serving various industries with advanced steel products and has a significant raw steelmaking capacity of 22.4 million net tons annually.

United States Steel (NYSE: X) has been named a Beyond the Yellow Ribbon company by the Minnesota National Guard, recognizing its commitment to supporting veterans. U. S. Steel's Minnesota Ore Operations hosted a proclamation event on June 27 to celebrate this achievement. The designation highlights the company’s efforts to provide a supportive work environment for military employees, with 12% of new hires in 2023 being veterans. The company leverages its Employee Resource Groups (ERGs), like SERVE, to foster inclusion and support for veteran employees.

United States Steel (NYSE: X) has been named a Vibrant Index 5.0 Champion by Vibrant Pittsburgh for the second time, recognizing its leadership in diversity, equity, and inclusion (DEI) in the Pittsburgh region. Vibrant Pittsburgh, a non-profit focused on economic development and diversity, uses a proprietary process to evaluate organizations across nine impact areas. Those scoring in the 95th percentile or higher are designated Vibrant Champions. U. S. Steel's commitment to creating an inclusive culture is evidenced by its recent accolades, including being named one of 'America's Greatest Workplaces for Diversity 2024' by Newsweek and earning a perfect score on the Corporate Equality Index for four consecutive years. The company aims to share best practices with other DEI leaders to enhance regional diversity and economic success.

United States Steel (NYSE: X) has released its 2023 Sustainability Report titled “The Future of Steel”, emphasizing innovation and collaboration to meet market demand. The report details U. S. Steel's progress towards its net-zero greenhouse gas emissions goal by 2050, highlighting partnerships with energy and technology companies, the Department of Energy, and non-profits. Notable initiatives include a carbon capture project at Gary Works, the development of COASTALUME™ roofing and siding with DuPont™, and a $150 million investment in the DR-grade pellet facility in Minnesota. Furthermore, U. S. Steel has been recognized for its ethical practices and workplace equality, achieving zero heat-related OSHA Recordable Injuries and a record-low OSHA DAFW rate of 0.04. The report outlines future projects like the completion of Big River Steel 2 and additional solar power installations.

United States Steel (NYSE: X) provided guidance for the second quarter of 2024, forecasting adjusted net earnings per diluted share between $0.76 and $0.80. The adjusted EBITDA is expected to be around $425 million. CEO David B. Burritt highlighted the company's progress towards closing a transaction with Nippon Steel and noted stable domestic steel demand. Key developments include the startup of the Big River Steel dual Galvalume®/Galvanized coating line and progress towards the launch of Big River 2. However, the Tubular segment faces challenging market conditions, and the Mini Mill segment is expected to see lower adjusted EBITDA due to pricing headwinds.

United States Steel (NYSE: X) announced the awarding of 20 college scholarships to children of its employees, funded by the U. S. Steel Foundation. Each scholarship is worth $10,000, disbursed as $2,500 per year over four years. Since 1995, the program has awarded over $4.4 million to more than 525 students. This year also introduced the Maverick Award and Trailblazer Award, honoring two U. S. Steel retirees, which provide additional one-time $5,000 scholarships. Scholarship recipients are selected based on academic achievements, leadership, and community involvement. This initiative underscores U. S. Steel’s commitment to supporting its workforce and fostering future leaders.

United States Steel (NYSE: X) and Nippon Steel (TSE: 5401) have obtained all non-U.S. regulatory approvals for their proposed transaction. These approvals were received from competition authorities in the EU, Mexico, Serbia, Slovakia, Turkey, and the UK. The companies expect to finalize the deal in the second half of 2024, pending U.S. regulatory approvals. U. S. Steel's CEO David B. Burritt and Nippon Steel's Vice Chairman Takahiro Mori emphasized that the transaction would bolster the steel industry and benefit multiple stakeholders. A Special Meeting of Stockholders saw 71% of U. S. Steel's outstanding shares vote in favor, with 99% of the represented shares supporting the deal.

U.S. Steel (NYSE: X) announced the opening of its new direct reduced (DR)-grade pellet production facility at its Minnesota Ore Operations-Keetac Plant. The $150 million investment enables the plant to produce approximately four million tons of pellets annually, addressing the growing demand for low-cost DR-grade iron ore. The facility also offers flexibility to produce blast furnace pellets, adapting to market changes. The project, completed ahead of schedule and under budget, created 250 construction jobs and 33 full-time positions, emphasizing U.S. Steel's commitment to quality and sustainability. Minnesota Governor Tim Walz and U.S. Steel's CEO David B. Burritt celebrated the launch, highlighting the project's potential to strengthen Minnesota's iron ore industry.