Group 1 - United States Steel Corporation's stock has decreased by 3.9%, trading at $36.43, following U.S. Vice President Kamala Harris's opposition to the planned sale to Nippon Steel [1] - The stock has not recovered from a previous 12.8% decline after President Biden's announcement against the buyout, with resistance at the $42.50 level and support emerging at $36 [1] - Year-to-date, the stock has declined by 25% [1] Group 2 - There has been a significant increase in put options trading, with 22,000 puts traded, which is seven times the typical volume, compared to 7,427 calls [2] - The most popular put contract is the January 2025 40-strike put, followed by the 35-strike put [2] - The 10-day put/call volume ratio for United States Steel Corporation is 8.43, ranking higher than 97% of readings from the past year, indicating a rapid increase in put buying [2]

ToplineVice President Kamala Harris expressed her opposition to Japanese firm Nippon Steel’s $15 billion bid to take over U.S. Steel at a campaign event in Pittsburgh on Monday, echoing President Joe Biden’s strong disapproval of the deal.Democratic presidential nominee, U.S. Vice President Kamala Harris speaks during a campaign event at ... [+] in Pittsburgh, Pennsylvania.Getty Images Key FactsSpeaking at a campaign event in Pittsburgh, Harris called U.S. Steel a “historic American company” and said it was ...

United States Steel Corporation (X) will receive additional project investments from Nippon Steel Corporation at its Mon Valley Works and Gary Works. This is subject to the completion of Nippon Steel’s pending acquisition of X and the receipt of any required regulatory approvals.The growth investments announced by Nippon Steel will extend the production life of two of U.S. Steel's key integrated assets while improving steel supply security for American manufacturers. The investments will involve significant ...

TOKYO, Aug. 28, 2024 /PRNewswire/ -- Nippon Steel Corporation ("Nippon Steel") (TSE: 5401) today announced additional project investments to be made at Mon Valley Works and Gary Works, as part of its pending acquisition ("Transaction") of United States Steel Corporation ("U. S. Steel") (NYSE: X).The investments announced today are major growth investments and represent additional capital spending that will extend the production life of two of U. S. Steel's critical integrated assets and enhance the security ...

Newly launched WalkMeX receives four industry awards for artificial intelligence SAN FRANCISCO, Aug. 19, 2024 (GLOBE NEWSWIRE) -- WalkMe (NASDAQ: WKME), a leading provider of digital adoption solutions for effectively navigating technology change, today announced new capabilities as part of its Summer ‘24 product release and recent industry recognition for AI innovation. Many of these new capabilities are part of WalkMeX, the world's first and only copilot with the context to meet every user with the next b ...

United States Steel (X) reported $4.12 billion in revenue for the quarter ended June 2024, representing a yearover-year decline of 17.8%. EPS of $0.84 for the same period compares to $1.92 a year ago. The reported revenue represents a surprise of +3.00% over the Zacks Consensus Estimate of $4 billion. With the consensus EPS estimate being $0.76, the EPS surprise was +10.53%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-16811 United States Steel Corporation (Exact name of registrant as specified in its charter) Delaware 25-1897152 (State or other ju ...

Core Points - United States Steel Corporation reported a profit of $183 million or 72 cents per share for Q2 2024, a decrease from $477 million or $1.89 per share in the same quarter last year [1] - Adjusted earnings per share were 84 cents, down from $1.92 year over year, but exceeded the Zacks Consensus Estimate of 76 cents [1] - Revenues fell approximately 18% year over year to $4,118 million, surpassing the Zacks Consensus Estimate of $3,998.2 million [1] Segment Highlights - **Flat-Rolled Segment**: Profit of $183 million, down around 21% year over year; steel shipments decreased roughly 9% to 2,045,000 tons; average realized price per ton was $1,051, down around 3% [2] - **Mini Mill Segment**: Profit of $28 million, down around 79% year over year; shipments were 562,000 tons, down around 4%; average realized price per ton was $869, down around 14% [2] - **U.S. Steel Europe**: Reported a loss of $10 million compared to a profit of $72 million a year ago; shipments fell roughly 15% to 875,000 tons; average realized price per ton was $821, down around 15% [2] - **Tubular Segment**: Profit of $29 million, down roughly 82% year over year; shipments fell roughly 2% to 109,000 tons; average realized price per ton was $2,108, down nearly 40% [3] Financials - At the end of the quarter, cash and cash equivalents were $2,031 million, down around 9% from the previous quarter; long-term debt remained flat at $4,078 million [4] Outlook - The company expects adjusted EBITDA for Q3 to be in the range of $275-$325 million, influenced by recent pricing dynamics [5] - Anticipates modest softening in North American Flat-Rolled segment results due to reduced spot prices [5] - Expects lower results in the Tubular segment in Q3 due to reduced selling prices [5] Price Performance - The company's shares have increased by 67.6% over the past year, contrasting with a 12.6% decline in the industry [7]

United States Steel (X) came out with quarterly earnings of $0.84 per share, beating the Zacks Consensus Estimate of $0.76 per share. This compares to earnings of $1.92 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 10.53%. A quarter ago, it was expected that this steel maker would post earnings of $0.83 per share when it actually produced earnings of $0.82, delivering a surprise of -1.20%.Over the last four quarters, the com ...

Financial Performance - Second quarter 2024 net earnings were $183 million, or $0.72 per diluted share, compared to $477 million, or $1.89 per diluted share in the same quarter of 2023[2]. - Adjusted net earnings for Q2 2024 were $211 million, or $0.84 per diluted share, down from $483 million, or $1.92 per diluted share in Q2 2023[2]. - Adjusted EBITDA for Q2 2024 was $443 million, a decrease from $804 million in Q2 2023[7]. - Net sales for Q2 2024 were $4.118 billion, compared to $5.008 billion in Q2 2023, reflecting a 17.7% decline[10]. - Net earnings for the six months ended June 30, 2024, were $354 million, a decrease of 48% compared to $676 million in the same period of 2023[11]. - Adjusted EBITDA for the second quarter of 2024 was $443 million, down from $804 million in the second quarter of 2023, reflecting a margin of 10.8% compared to 16.1%[14]. Cash Flow and Assets - Cash and cash equivalents decreased to $2,031 million as of June 30, 2024, from $2,948 million at the end of 2023[12]. - Total current assets decreased to $5,950 million as of June 30, 2024, compared to $6,943 million at the end of 2023[12]. - Free cash flow for the second quarter of 2024 was $(156) million, contributing to a total of $(841) million for the year[15]. - The company reported a net cash provided by operating activities of $446 million for the six months ended June 30, 2024, down from $894 million in 2023[11]. - The company experienced a net decrease in cash, cash equivalents, and restricted cash of $915 million in the first half of 2024[11]. - Long-term debt remained stable at approximately $4,078 million as of June 30, 2024, compared to $4,080 million at the end of 2023[12]. - The company’s stockholders' equity increased to $11,393 million as of June 30, 2024, from $11,047 million at the end of 2023[12]. Operational Highlights - The Mini Mill segment achieved a 17% EBITDA margin, despite $30 million in one-time start-up costs for strategic projects[3]. - Third quarter adjusted EBITDA is expected to be between $275 million and $325 million, influenced by recent pricing dynamics[3]. - Construction on the Big River 2 (BR2) project is on track for a planned start-up in Q4 2024[6]. - The Tubular segment is expected to see lower results due to declining selling prices in Q3 2024[6]. - Average realized price for Flat-Rolled products was $1,051 per net ton in Q2 2024, down from $1,088 in Q2 2023[8]. - Total steel shipments in Q2 2024 were 3.591 million net tons, a decrease from 3.967 million net tons in Q2 2023[8]. - United States Steel Corporation has an annual raw steelmaking capability of 22.4 million net tons[21]. Strategic Focus - The company emphasizes innovation with products like the proprietary XG3 advanced high-strength steel, targeting automotive and construction industries[21]. - The company is focused on a customer-centric strategy called "Best for All," aimed at advancing a sustainable future[21]. - The company maintains competitively advantaged iron ore production, which supports its steelmaking operations[21]. - The company’s focus on safety is a key component of its operational strategy[21]. Risks and Forward-Looking Statements - The company is subject to risks and uncertainties that could materially affect its financial condition and results, including the proposed transaction with NSC[20]. - Forward-looking statements made by the company are subject to various risks, including regulatory approvals and potential disruptions to management[20]. - The company does not undertake any duty to update forward-looking statements unless required by law[20]. - The company believes its forward-looking statements are reasonable but cautions against undue reliance on them[20].