U. S. Steel Stock Price, News & Analysis

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.

United States Steel Corporation (NYSE: X) has declared a $0.05 dividend per share on its Common Stock. This dividend is set to be paid on December 8, 2022, to stockholders recorded by the close of business on November 7, 2022. Founded in 1901, U. S. Steel is a prominent steel producer focusing on safety and sustainability, serving various industries with high-value steel products. The company boasts an annual raw steelmaking capacity of 22.4 million net tons and operates extensively across the United States and Central Europe.

United States Steel Corporation (NYSE: X) reported third quarter 2022 net earnings of $490 million, or $1.85 per diluted share, a significant decrease from $2,002 million ($6.97 per share) in Q3 2021. Adjusted net earnings for Q3 2022 were $516 million ($1.95 per share), down from $1,638 million ($5.70 per share) year-over-year. EBITDA was $848 million. The company faced demand headwinds and increased raw material costs, with free cash flow of $1,647 million year-to-date. U.S. Steel anticipates continued challenges but aims for a second-best financial year.

PPG has announced the appointment of Tim Knavish as the new President and CEO effective January 1, 2023. Knavish, who has served as COO since March, will succeed Michael McGarry, who transitions to Executive Chairman after leading the company since September 2015. The change is expected to enhance PPG's growth strategy amid current economic challenges. Knavish brings extensive experience from various leadership roles at PPG, which operates globally and reported $16.8 billion in net sales for 2021.

United States Steel Corporation (NYSE:X) will release its financial results for Q3 2022 on October 27, 2022, post-market close. A webcast for stockholders and investors is scheduled for October 28, 2022, at 8:30 a.m. ET, discussing the financial results and offering company updates. Ahead of the webcast, investors can submit questions via Say Technologies, which will be addressed during the call. The company focuses on safety and innovation within the steel industry, serving several sectors with advanced high-strength steel products.