On October 31, 2024, United States Steel Corporation released its financial results for the third quarter of 2024. The company reported net earnings of $119 million, or $0.48 per diluted share, and adjusted net earnings of $140 million, or $0.56 per diluted share. These figures represent a decrease from the third quarter of 2023, where net earnings were $299 million, or $1.20 per diluted share, and adjusted net earnings were $350 million, or $1.40 per diluted share. The company's President and CEO, David B. Burritt, highlighted the resilience of their business model despite weaker average selling prices. The North American Flat-Rolled segment benefited from a strong commercial strategy, while the Mini Mill segment faced softening market pricing. The company also announced the achievement of first coil at Big River 2 and...Show More

On October 31, 2024, United States Steel Corporation released its financial results for the third quarter of 2024. The company reported net earnings of $119 million, or $0.48 per diluted share, and adjusted net earnings of $140 million, or $0.56 per diluted share. These figures represent a decrease from the third quarter of 2023, where net earnings were $299 million, or $1.20 per diluted share, and adjusted net earnings were $350 million, or $1.40 per diluted share. The company's President and CEO, David B. Burritt, highlighted the resilience of their business model despite weaker average selling prices. The North American Flat-Rolled segment benefited from a strong commercial strategy, while the Mini Mill segment faced softening market pricing. The company also announced the achievement of first coil at Big River 2 and expects to begin shipments in the fourth quarter. Additionally, United States Steel Corporation is working towards closing a transaction with Nippon Steel Corporation by year-end. For the fourth quarter of 2024, the company expects adjusted EBITDA to be between $225 million and $275 million. The report also included detailed financial statements and operational statistics, such as net sales, segment earnings, and capital expenditures.