U. S. Steel Stock Price, News & Analysis

United States Steel Corporation (NYSE: X) reported a record second quarter 2022, achieving net earnings of $978 million, or $3.42 per diluted share. Adjusted net earnings were $1,104 million ($3.86 per diluted share) compared to $1,012 million ($3.53) in Q2 2021. The company announced a new $500 million stock buyback authorization, having completed an $800 million buyback program. Despite strong performance across segments, the company indicated a softening in consumer markets like automotive, while energy demand is accelerating. Q2 adjusted EBITDA reached a record $1,620 million.

United States Steel Corporation (NYSE: X) will release its second quarter 2022 financial results on July 28, 2022, after market close. A webcast discussing these results is scheduled for July 29, 2022, at 8:30 a.m. ET. Investors can submit questions via Say Technologies until July 27, 2022. Key executives, including CEO David B. Burritt, will participate in the call. U. S. Steel is focused on safety and innovation, serving various industries with advanced steel products and maintaining an annual raw steelmaking capacity of 22.4 million net tons.

United States Steel Corporation (NYSE: X) has announced plans to enhance its low-cost iron ore capabilities by upgrading operations in Minnesota and partnering with SunCoke Energy to repurpose blast furnaces in Illinois. The company is set to invest approximately $150 million in producing Direct Reduced (DR)-grade pellets, providing essential feedstock for electric arc furnaces (EAFs). Additionally, a non-binding agreement with SunCoke outlines a potential deal for pig iron production. These initiatives aim to bolster U. S. Steel's self-sufficiency and competitive advantage in the steel market.

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.