U. S. Steel Stock Price, News & Analysis

United States Steel (NYSE: X) has announced it will release its fourth quarter and full year 2024 financial results on January 30, 2025, after the NYSE trading closes. Following the company's December 18, 2023 announcement of a definitive merger agreement with Nippon Steel , U.S. Steel will not hold an earnings conference call. Instead, the company will simultaneously release its earnings report, presentation, and segment and financial operational data.

U.S. Steel, founded in 1901, is a leading steel producer with an annual raw steelmaking capability of 25.4 million net tons. The company serves various industries including automotive, construction, appliance, energy, containers, and packaging with high value-added steel products, including their proprietary XG3® advanced high-strength steel.

Nippon Steel and U. S. Steel have filed two major lawsuits challenging the blocking of their proposed acquisition. The first lawsuit, filed in the U.S. Court of Appeals for D.C. Circuit, contests President Biden's blocking order and CFIUS review process, citing constitutional violations and unlawful political influence.

The second lawsuit, filed in Pennsylvania's Western District Court, targets Cleveland-Cliffs, its CEO Lourenco Goncalves, and USW President David McCall for alleged illegal interference with the transaction. The companies maintain that Nippon Steel's $55.00 per share offer and committed investments of $2.7 billion (including $1 billion for Mon Valley Works and $300 million for Gary Works) represent the best path forward for U. S. Steel.

The litigation alleges that President Biden's decision was politically motivated rather than based on national security concerns, and that Cleveland-Cliffs, in collusion with USW leadership, attempted to monopolize domestic steel markets and prevent any acquisition except their own.

Nippon Steel and U. S. Steel have issued a joint statement condemning President Biden's decision to block their proposed acquisition deal. The companies argue that the decision violates due process and CFIUS law, claiming it was politically motivated rather than based on national security concerns. The blocked transaction would have included $2.7 billion in committed investments, including $1 billion for Mon Valley Works and $300 million for Gary Works.

Nippon Steel had offered several mitigation measures, including maintaining a majority of U.S. citizens on the board, keeping key positions held by U.S. citizens, and guaranteeing no reduction in production capacity at U.S. facilities for ten years. The companies state they will pursue legal action to protect their rights and deliver the agreed $55.00 per share value to U. S. Steel stockholders.

U.S. Steel has announced plans to establish a workforce training center in Western Pennsylvania through a multi-million dollar grant, contingent upon the closing of its transaction with Nippon Steel. The center will collaborate with local educational institutions and economic development organizations to support workforce development.

The initiative is designed to thank local communities for their support during the Nippon Steel transaction and acknowledges the importance of U.S. Steel's employees in driving the local economy and American steel industry. The investment from Nippon Steel will help secure facilities, particularly at the Mon Valley in Western Pennsylvania, for future generations.

U.S. Steel (NYSE: X) has provided its Q4 2024 guidance, projecting adjusted net earnings per diluted share of ($0.29) to ($0.25) and adjusted EBITDA of approximately $150 million. The company completed over $4 billion in growth capital investments, with Big River 2 (BR2) achieving first coil production on October 31, 2024.

The guidance reflects challenges including depressed steel prices and BR2 ramp-related costs. The North American Flat-Rolled segment maintains strong EBITDA through its commercial strategy, while Europe faces weak demand and pricing. The company is temporarily operating three blast furnaces due to unplanned downtime from a fire at #1 Caster, planning to return to two furnaces by January. The Tubular segment faces pressure from weak pricing environment.

U. S. Steel employees are hosting a rally at the Mon Valley Works Clairton Plant to support the Nippon Steel transaction. The event brings together represented and non-represented employees, community members, and local officials to advocate for the deal's approval.

Nippon Steel has committed to providing $5,000 bonuses to eligible USW-represented and non-represented employees within 30 days of deal closing, totaling nearly $100 million. The company also pledged to invest $2.7 billion in union-represented facilities, including $1 billion specifically for Mon Valley Works.

In Pennsylvania, the investment is expected to generate $1 billion in economic impact, create 5,000 construction jobs, and contribute up to $40 million in state and local taxes within the first two years. The partnership aims to strengthen U.S. national security, economic security, and job security while modernizing steelmaking operations.

The U.S. Department of Commerce has released preliminary findings regarding oil country tubular goods (OCTG) from Argentina and Mexico. The investigation found that Argentine OCTG from Tenaris' Siderca S.A.I.C was being dumped at a rate of 6.80%, while Mexican OCTG from Tenaris' Tubos de Acero de Mexico was dumped at 30.38% during 2022-2023.

Currently, Tenaris' imports remain subject to cash deposits of 78.3% for Argentine OCTG and 44.93% for Mexican OCTG. Argentine OCTG is additionally subject to a Section 232 quota of 148,000 metric tons annually. U. S. Steel (NYSE: X), which produces billets and seamless OCTG in Fairfield, Alabama, expressed concerns that Argentine dumping rates might be higher than preliminary findings suggest.

United States Steel (NYSE: X) has announced a dividend of $0.05 per share of Common Stock, payable on December 11, 2024, to stockholders of record as of November 11, 2024. The company, founded in 1901, is a leading steel producer with an annual raw steelmaking capability of 25.4 million net tons. U.S. Steel serves various industries including automotive, construction, appliance, and energy with high value-added steel products, including their proprietary XG3® advanced high-strength steel. The company maintains iron ore production operations across the United States and Central Europe.

United States Steel (NYSE: X) reported third quarter 2024 net earnings of $119 million, or $0.48 per diluted share, compared to $299 million in Q3 2023. Adjusted net earnings were $140 million, or $0.56 per diluted share, down from $350 million last year. The company achieved adjusted EBITDA of $319 million, showing resilience despite weaker selling prices. Big River 2 achieved first coil production with customer shipments expected in Q4. For Q4 2024, the company expects adjusted EBITDA between $225-275 million, with slight decreases in North American Flat-Rolled segment and weaker European results.