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United States Steel | 8-K: United States Steel Corporation Reports Second Quarter 2024 Results

SEC ·  Aug 2 04:25

Summary by Moomoo AI

On August 1, 2024, United States Steel Corporation, headquartered in Pittsburgh, Pennsylvania, released its financial results for the second quarter of 2024. The company reported net earnings of $183 million, or $0.72 per diluted share, and adjusted net earnings of $211 million, or $0.84 per diluted share. This represents a decrease from the second quarter of 2023, where net earnings were $477 million, or $1.89 per diluted share, and adjusted net earnings were $483 million, or $1.92 per diluted share. The company's adjusted EBITDA for the second quarter of 2024 was $443 million. President and CEO David B. Burritt highlighted the company's resilient performance despite pricing headwinds and noted better than expected results in the North American Flat-Rolled segment due to product mix and cost management. The Mini Mill segment also...Show More
On August 1, 2024, United States Steel Corporation, headquartered in Pittsburgh, Pennsylvania, released its financial results for the second quarter of 2024. The company reported net earnings of $183 million, or $0.72 per diluted share, and adjusted net earnings of $211 million, or $0.84 per diluted share. This represents a decrease from the second quarter of 2023, where net earnings were $477 million, or $1.89 per diluted share, and adjusted net earnings were $483 million, or $1.92 per diluted share. The company's adjusted EBITDA for the second quarter of 2024 was $443 million. President and CEO David B. Burritt highlighted the company's resilient performance despite pricing headwinds and noted better than expected results in the North American Flat-Rolled segment due to product mix and cost management. The Mini Mill segment also performed well, with a 17% EBITDA margin after adjusting for one-time start-up costs. The company anticipates third-quarter adjusted EBITDA to be between $275 million and $325 million, with expectations of pricing dynamics continuing to impact the business. Additionally, United States Steel Corporation is progressing with its transaction with Nippon Steel Corporation, which is expected to close later in the year, and is moving forward with strategic projects such as the construction of Big River 2 and a new coating line at Big River Steel.

This announcement is a separate document:

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Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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