Welcome to our dedicated page for U. S. Steel news (Ticker: X), a resource for investors and traders seeking the latest updates and insights on U. S. Steel stock.
United States Steel Corporation (U. S. Steel) (historically NYSE: X) generates frequent news coverage as a long-established steel producer serving the automotive, construction, appliance, energy, containers, and packaging industries. Founded in 1901 and headquartered in Pittsburgh, Pennsylvania, the company is active across the United States and in Central Europe, and its announcements often touch on steel production, advanced materials, and corporate transactions.
On this news page, readers can follow company-issued updates on topics such as mergers and acquisitions, strategic partnerships, financial results, and product or technology developments. Recent communications have included details of U. S. Steel’s completed merger with Nippon Steel North America, Inc., the related National Security Agreement with the U.S. Government, and commentary on governance and shareholder matters. The company also reports quarterly financial results, including segment performance across flat-rolled, mini mill, European, and tubular operations.
U. S. Steel’s news flow highlights its focus on advanced and sustainable steels, including proprietary products like XG3® advanced high-strength steel, verdeX® steel with lower CO2 emissions and high recycled content, and ultra-thin lightweight InduX™ steel for electric vehicles, generators, and transformers. The company also issues stories about its role in the future of mobility, such as its “Steel Stories” podcast series and partnerships like the sponsorship of the University of Michigan Solar Car Team.
Investors, analysts, and industry observers can use this page to monitor ongoing developments related to U. S. Steel’s operations, its integration within Nippon Steel’s corporate structure, and its stated commitment to net-zero greenhouse gas emissions by 2050. Bookmark this feed to review historical and recent press releases, financial updates, and corporate statements directly tied to the former X listing.
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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.
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United States Steel Corporation (NYSE: X) has announced an additional $500,000 contribution to the Carnegie One Capital Campaign, totaling $1 million. This campaign aims to raise $18 million for comprehensive renovations of the Braddock Carnegie Library, which include a performance hall and a gymnasium. Pennsylvania has also invested $1 million from state funds. CEO David Burritt emphasized this commitment as an investment in the community, aiming to enhance local engagement and literacy through initiatives like the Reading Champions program.
United States Steel Corporation (NYSE: X) has projected adjusted EBITDA of approximately $825 million for Q3 2022. Expected adjusted net earnings per diluted share range from $1.90 to $1.95. The company highlights its strong position with over $3 billion in debt repayment and ongoing project advancements. However, it acknowledges market headwinds impacting the Flat-rolled and Mini Mill segments, leading to lower shipment volumes and reduced average selling prices. Despite these challenges, the Tubular segment is anticipated to experience earnings growth.
U.S. Steel Corporation (NYSE: X) has donated $1 million to enhance community infrastructure and services in Osceola and Mississippi County, Arkansas. Key initiatives include a $425,000 grant for relocating the emergency room of the South Mississippi County Regional Medical Center, and $405,000 for new equipment for local police and firefighters. Additional funding supports youth programs and community foundations. U.S. Steel emphasizes its commitment to community development alongside business growth following its acquisition of Big River Steel.