 | 联系方式： 企业通讯 T - (412) 433-1300 E - media@uss.com | Emily Chieng 投资者关系官员 T - (412) 618-9554 E - ecchieng@uss.com | 资讯发布 | ||||||||||||||
即时新闻稿：
美国钢铁公司报告2024年第三季度业绩
•2024年第三季度净收入为11900万美元，每股稀释收益为0.48美元。
•2024年第三季度调整后净收入为14000万美元，每股摊薄收益为0.56美元。
•2024年第三季度调整后的EBITDA为31900万美元。
匹兹堡，2024年10月31日 - 美国钢铁公司（纽交所：X）报告2024年第三季度净收益为11900万美元，每股稀释收益为0.48美元。调整后的净收益为14000万美元，每股稀释收益为0.56美元。与2023年第三季度的净收益29900万美元，每股稀释收益为1.20美元相比。调整后的2023年第三季度净收益为35000万美元，每股稀释收益为1.40美元。
美国钢铁总统兼首席执行官David b. Burritt在对公司第三季度业绩发表意见时表示，“第三季度调整后的EBITDA为31900万美元，表明尽管我们各个业务板块所经历的平均销售价格下降，但我们的业务模式仍具有韧性。北美平板轧制业务板块继续受益于强大的商业策略，利用多样化产品组合和有计划地增加我们服务的最终市场的合同销量。我们的迷你炼铁厂业务板块虽然受到市场定价下降的影响，在调整4000万美元的一次性开支项目后，实现了11%的EBITDA利润率。USSE盈利受益于一次性有利的CO分配调整，抵消了欧洲需求环境带来的压力。管材板块的盈利在第三季度表现疲软，低于预期，反映了较低的基准价格。”2 盈利较弱的第三季度，如预期所示，显示了欧洲需求环境的压力，对管材的盈利表现较差。”
在谈到公司的战略举措时，伯里特继续表示:“我们非常高兴地宣布，在Big River 2（“BR2”）获得了首捆钢卷，Big River团队预计将在第四季度开始向客户发货。我们很兴奋地在今天发布的投资者介绍中展示了BR2的照片。祝贺Big River团队安全交付超过40亿美元的增长资本投资，其中包括非取向（“NGO”）电工钢线和双Galvalume线。® 同时搭配我们增强的商业策略和最近的投资
©2024 美国钢铁。保留所有权利 www.ussteel.com 600 Grant Street
新闻稿
在北美平板轧制部门生产，我们期待通过增加自由现金流打下更坚实的盈利基础。
关于与日本钢铁公司的交易，Burritt指出：“我们仍在努力争取年底前完成交易。重要的是，在九月份，仲裁委员会裁定支持U.S. 钢铁公司在我们的基本劳资协议下。我们也很高兴看到日本钢铁公司作出额外承诺，将扩大现有的收益，包括从日本钢铁公司每年50000万美元的研发支出中转移技术和进一步创新，以进一步增强交易的优势。我们期待将这些好处传递给所有的利益相关者，特别是我们莫恩山谷和盖瑞工厂辛勤工作的男女，日本钢铁公司已承诺至少投资13亿美元，将总资本承诺提高至至少27亿美元。”
Q4 2024 Outlook
我们预计第四季度调整后的EBITDA在22500万美元和27500万美元之间。 我们的北美平板轧制部门业绩应该会略有下降，主要是由于该季度平均售价预期较低。 我们预计迷你厂部门业绩将有所改善，即使考虑到BR2的2500万美元的相关启动和一次性施工成本，预计平均销售价格会有所提高。 在欧洲，由于缺乏正面CO对结果的影响，以及需求和价格条件疲软，预计业绩会下降。 我们的管材部门结果应该与第三季度基本一致。2 分配且基础需求和定价条件疲软。 我们的管材部门结果应该与第三季度基本一致。
| 收益亮点 | ||||||||||||||
| 截至9月30日的三个月 | 截至9月30日的九个月 | |||||||||||||
| （金额单位为百万美元，每股金额除外） | 2024 | 2023 | 2024 | 2023 | ||||||||||
| 净销售额 | $ | 3,853 | $ | 4,431 | $ | 12,131 | $ | 13,909 | ||||||
| 利息和所得税前段利润（损失） | ||||||||||||||
| 平轧 | $ | 106 | $ | 225 | $ | 323 | $ | 449 | ||||||
| 迷你厂 | (28) | 42 | 99 | 186 | ||||||||||
| 美国钢铁欧洲 | 7 | (13) | 13 | 25 | ||||||||||
| 管材 | (4) | 87 | 82 | 476 | ||||||||||
| 其他 | 3 | 7 | (3) | (2) | ||||||||||
| 利息和所得税前的总部门收益 | $ | 84 | $ | 348 | $ | 514 | $ | 1,134 | ||||||
| 未分配给部门的其他项目 | (36) | (71) | (131) | (104) | ||||||||||
| 利息和所得税前收益 | $ | 48 | $ | 277 | $ | 383 | $ | 1,030 | ||||||
| 净利息和其他财务益处 | (61) | (64) | (174) | (182) | ||||||||||
| 所得税（收益）费用 | (10) | 42 | 84 | 237 | ||||||||||
| 净收益 | $ | 119 | $ | 299 | $ | 473 | $ | 975 | ||||||
| 每股稀释收益 | $ | 0.48 | $ | 1.20 | $ | 1.88 | $ | 3.86 | ||||||
调整后的净收益 (a) | $ | 140 | $ | 350 | $ | 557 | $ | 1,028 | ||||||
每股调整后净收益 (a) | $ | 0.56 | $ | 1.40 | $ | 2.21 | $ | 4.07 | ||||||
利息、税项、折旧和摊销前调整后盈利（EBITDA） (a) | $ | 319 | $ | 578 | $ | 1,176 | $ | 1,809 | ||||||
(a) 请参阅本文件的非通用会计准则财务指标部分，以了解这些金额的调解情况。 | ||||||||||||||
©2024美国钢铁保留所有权利 www.ussteel.com 600 Grant Street
新闻稿
| 美国钢铁公司 | ||||||||||||||||||||
| 初步补充 统计 (未经审计) | ||||||||||||||||||||
| 截至9月30日的三个月 | 截至9月30日的九个月 | |||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||||||
| 运营统计数据 | ||||||||||||||||||||
平均实现价格: (美元/净吨，除非另有说明) (a) | ||||||||||||||||||||
| 平板轧制 | 993 | 1,036 | 1,030 | 1,045 | ||||||||||||||||
| 迷你厂 | 800 | 901 | 880 | 898 | ||||||||||||||||
| 美国钢铁欧洲 | 802 | 852 | 818 | 910 | ||||||||||||||||
| 美国钢铁欧洲（€/净吨） | 730 | 783 | 753 | 840 | ||||||||||||||||
| 管材 | 1,805 | 2,927 | 2,062 | 3,422 | ||||||||||||||||
钢铁出货量（净吨数）： (a) | ||||||||||||||||||||
| 平板轧制 | 1,905 | 2,159 | 5,999 | 6,672 | ||||||||||||||||
| 微型钢厂 | 602 | 561 | 1,732 | 1,807 | ||||||||||||||||
| 美国钢铁欧洲 | 899 | 958 | 2,846 | 2,875 | ||||||||||||||||
| 管材 | 110 | 104 | 333 | 346 | ||||||||||||||||
| 总钢铁出货量 | 3,516 | 3,782 | 10,910 | 11,700 | ||||||||||||||||
| 除非另有说明，否则各部门之间的钢铁出货量（净吨数）： | ||||||||||||||||||||
| 迷你轧钢厂到平板轧制厂 | 84 | 145 | 288 | 370 | ||||||||||||||||
| 平板轧制厂到迷你轧钢厂 | 2 | 2 | 3 | 2 | ||||||||||||||||
| 平板轧制厂到迷你轧钢厂（生铁） | 83 | 95 | 248 | 210 | ||||||||||||||||
| 平板轧制厂到美国钢铁（煤 ） | — | 174 | 258 | 632 | ||||||||||||||||
| 原钢生产（净吨数）： | ||||||||||||||||||||
| 平板轧制 | 2,107 | 2,390 | 6,290 | 7,312 | ||||||||||||||||
| 小型轧钢厂 | 732 | 693 | 2,174 | 2,201 | ||||||||||||||||
| 美国钢铁欧洲 | 970 | 990 | 3,029 | 3,295 | ||||||||||||||||
| 管材 | 159 | 111 | 422 | 411 | ||||||||||||||||
熟钢生产能力利用率： (b) | ||||||||||||||||||||
| 平板轧钢 | 63 | % | 72 | % | 63 | % | 74 | % | ||||||||||||
| 小型轧钢厂 | 88 | % | 83 | % | 88 | % | 89 | % | ||||||||||||
| 美国钢铁欧洲 | 77 | % | 79 | % | 81 | % | 88 | % | ||||||||||||
| 管材 | 70 | % | 49 | % | 62 | % | 61 | % | ||||||||||||
资本支出 （单位：百万美元） | ||||||||||||||||||||
| 平板轧制 | 114 | 132 | 378 | 375 | ||||||||||||||||
| 迷你轧钢厂 | 364 | 423 | 1,302 | 1,474 | ||||||||||||||||
| 美国钢铁欧洲 | 27 | 24 | 82 | 66 | ||||||||||||||||
| 管材 | 6 | 7 | 20 | 24 | ||||||||||||||||
| 其他业务 | — | — | — | — | ||||||||||||||||
| 10,500,000 | $ | 511 | $ | 586 | $ | 1,782 | $ | 1,939 | ||||||||||||
(a) 不包括部门间的运输。 | ||||||||||||||||||||
(b) 基于平板轧制1320万净吨、迷你轧机330万净吨、美国钢铁欧洲500万净吨和管材90万净吨的年度原钢生产能力。 | ||||||||||||||||||||
©2024 U. S. Steel All Rights Reserved www.ussteel.com United States Steel Corporation
News Release
| UNITED STATES STEEL CORPORATION | |||||||||||||||||
| CONDENSED STATEMENT OF OPERATIONS (Unaudited) | |||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
| (Dollars in millions, except per share amounts) | 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Net Sales | $ | 3,853 | $ | 4,431 | $ | 12,131 | $ | 13,909 | |||||||||
| Operating expenses (income): | |||||||||||||||||
| Cost of sales | 3,448 | 3,838 | 10,742 | 11,952 | |||||||||||||
| Selling, general and administrative expenses | 104 | 118 | 328 | 320 | |||||||||||||
| Depreciation, depletion and amortization | 235 | 230 | 662 | 675 | |||||||||||||
| Earnings from investees | (17) | (51) | (76) | (76) | |||||||||||||
| Asset impairment charges | — | — | 19 | 4 | |||||||||||||
| Restructuring and other charges | 5 | 18 | 11 | 21 | |||||||||||||
| Other losses (gains), net | 30 | 1 | 62 | (17) | |||||||||||||
| Total operating expenses | 3,805 | 4,154 | 11,748 | 12,879 | |||||||||||||
| Earnings before interest and income taxes | 48 | 277 | 383 | 1,030 | |||||||||||||
| Net interest and other financial benefits | (61) | (64) | (174) | (182) | |||||||||||||
| Earnings before income taxes | 109 | 341 | 557 | 1,212 | |||||||||||||
| Income tax (benefit) expense | (10) | 42 | 84 | 237 | |||||||||||||
| Net earnings | 119 | 299 | 473 | 975 | |||||||||||||
| Less: Net earnings attributable to noncontrolling interests | — | — | — | — | |||||||||||||
| Net earnings attributable to United States Steel Corporation | $ | 119 | $ | 299 | $ | 473 | $ | 975 | |||||||||
| COMMON STOCK DATA: | |||||||||||||||||
| Net earnings per share attributable to United States Steel Corporation Stockholders | |||||||||||||||||
| Basic | $ | 0.53 | $ | 1.34 | $ | 2.10 | $ | 4.33 | |||||||||
| Diluted | $ | 0.48 | $ | 1.20 | $ | 1.88 | $ | 3.86 | |||||||||
| Weighted average shares, in thousands | |||||||||||||||||
| Basic | 225,095 | 223,109 | 224,697 | 225,311 | |||||||||||||
| Diluted | 254,060 | 253,070 | 254,124 | 255,080 | |||||||||||||
| Dividends paid per common share | $ | 0.05 | $ | 0.05 | $ | 0.15 | $ | 0.15 | |||||||||
©2024 U. S. Steel All Rights Reserved www.ussteel.com United States Steel Corporation
News Release
| UNITED STATES STEEL CORPORATION | |||||||||||
| CONDENSED CASH FLOW STATEMENT (Unaudited) | |||||||||||
| Nine Months Ended September 30, | Nine Months Ended September 30, | ||||||||||
| (Dollars in millions) | 2024 | 2023 | |||||||||
| Increase (decrease) in cash, cash equivalents and restricted cash | |||||||||||
| Operating activities: | |||||||||||
| Net earnings | $ | 473 | $ | 975 | |||||||
| Depreciation, depletion and amortization | 662 | 675 | |||||||||
| Asset impairment charges | 19 | 4 | |||||||||
| Restructuring and other charges | 11 | 21 | |||||||||
| Pensions and other postretirement benefits | (99) | (124) | |||||||||
| Active employee benefit investments | 51 | 20 | |||||||||
| Deferred income taxes | 141 | 275 | |||||||||
| Working capital changes | (204) | 227 | |||||||||
| Income taxes receivable/payable | (127) | (86) | |||||||||
| Other operating activities | (216) | (276) | |||||||||
| Net cash provided by operating activities | 711 | 1,711 | |||||||||
| Investing activities: | |||||||||||
| Capital expenditures | (1,782) | (1,939) | |||||||||
| Proceeds from sale of assets | 3 | 4 | |||||||||
| Other investing activities | (5) | — | |||||||||
| Net cash used in investing activities | (1,784) | (1,935) | |||||||||
| Financing activities: | |||||||||||
| Issuance of long-term debt, net of financing costs | — | 241 | |||||||||
| Repayment of long-term debt | (46) | (69) | |||||||||
| Common stock repurchased | — | (175) | |||||||||
| Other financing activities | (58) | (50) | |||||||||
| Net cash used in financing activities | (104) | (53) | |||||||||
| Effect of exchange rate changes on cash | 4 | (3) | |||||||||
| Net decrease in cash, cash equivalents and restricted cash | (1,173) | (280) | |||||||||
| Cash, cash equivalents and restricted cash at beginning of year | 2,988 | 3,539 | |||||||||
| Cash, cash equivalents and restricted cash at end of period | $ | 1,815 | $ | 3,259 | |||||||
©2024 U. S. Steel All Rights Reserved www.ussteel.com United States Steel Corporation
News Release
| UNITED STATES STEEL CORPORATION | |||||||||||
| CONDENSED BALANCE SHEET (Unaudited) | |||||||||||
| September 30, | December 31, | ||||||||||
| (Dollars in millions) | 2024 | 2023 | |||||||||
| Cash and cash equivalents | $ | 1,773 | $ | 2,948 | |||||||
| Receivables, net | 1,649 | 1,548 | |||||||||
| Inventories | 2,039 | 2,128 | |||||||||
| Other current assets | 305 | 319 | |||||||||
| Total current assets | 5,766 | 6,943 | |||||||||
| Operating lease assets | 82 | 109 | |||||||||
| Property, plant and equipment, net | 11,665 | 10,393 | |||||||||
| Investments and long-term receivables, net | 830 | 761 | |||||||||
| Intangibles, net | 421 | 436 | |||||||||
| Goodwill | 920 | 920 | |||||||||
| Other noncurrent assets | 949 | 889 | |||||||||
| Total assets | $ | 20,633 | $ | 20,451 | |||||||
| Accounts payable and other accrued liabilities | 2,745 | 3,028 | |||||||||
| Payroll and benefits payable | 321 | 442 | |||||||||
| Short-term debt and current maturities of long-term debt | 163 | 142 | |||||||||
| Other current liabilities | 223 | 336 | |||||||||
| Total current liabilities | 3,452 | 3,948 | |||||||||
| Noncurrent operating lease liabilities | 51 | 73 | |||||||||
| Long-term debt, less unamortized discount and debt issuance costs | 4,068 | 4,080 | |||||||||
| Employee benefits | 124 | 126 | |||||||||
| Deferred income tax liabilities | 732 | 587 | |||||||||
| Other long-term liabilities | 535 | 497 | |||||||||
| United States Steel Corporation stockholders' equity | 11,578 | 11,047 | |||||||||
| Noncontrolling interests | 93 | 93 | |||||||||
| Total liabilities and stockholders' equity | $ | 20,633 | $ | 20,451 | |||||||
©2024 U. S. Steel All Rights Reserved www.ussteel.com United States Steel Corporation
News Release
| UNITED STATES STEEL CORPORATION | |||||||||||||||||||||||||||||
| NON-GAAP FINANCIAL MEASURES | |||||||||||||||||||||||||||||
| RECONCILIATION OF ADJUSTED NET EARNINGS | |||||||||||||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||
| (Dollars in millions) | 2024 | 2023 | 2024 | 2023 | |||||||||||||||||||||||||
| Net earnings and diluted net earnings per share attributable to United States Steel Corporation, as reported | $ | 119 | $ | 0.48 | $ | 299 | $ | 1.20 | $ | 473 | $ | 1.88 | $ | 975 | $ | 3.86 | |||||||||||||
| Restructuring and other charges | 5 | 18 | 11 | 21 | |||||||||||||||||||||||||
| Stock-based compensation expense | 10 | 14 | 37 | 37 | |||||||||||||||||||||||||
| Asset impairment charges | — | — | 19 | 4 | |||||||||||||||||||||||||
| VEBA asset surplus adjustment | (9) | (6) | (21) | (36) | |||||||||||||||||||||||||
| Environmental remediation charges | 1 | 9 | 4 | 11 | |||||||||||||||||||||||||
| Strategic alternatives review process costs | 18 | 16 | 59 | 16 | |||||||||||||||||||||||||
| Granite City idling costs | — | 14 | — | 14 | |||||||||||||||||||||||||
| Other charges, net | 2 | 1 | 1 | 2 | |||||||||||||||||||||||||
| Adjusted pre-tax net earnings to United States Steel Corporation | 146 | 365 | 583 | 1,044 | |||||||||||||||||||||||||
Tax impact of adjusted items (a) | (6) | (15) | (26) | (16) | |||||||||||||||||||||||||
| Adjusted net earnings and diluted net earnings per share attributable to United States Steel Corporation | $ | 140 | $ | 0.56 | $ | 350 | $ | 1.40 | $ | 557 | $ | 2.21 | $ | 1,028 | $ | 4.07 | |||||||||||||
| Weighted average diluted ordinary shares outstanding, in millions | 254.1 | 253.1 | 254.1 | 255.1 | |||||||||||||||||||||||||
(a) The tax impact of adjusted items for both the three and nine months ended September 30, 2024, and 2023 were calculated using a blended tax rate of 24%. | |||||||||||||||||||||||||||||
| UNITED STATES STEEL CORPORATION | |||||||||||||||||
| NON-GAAP FINANCIAL MEASURES | |||||||||||||||||
| RECONCILIATION OF ADJUSTED EBITDA | |||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
| (Dollars in millions) | 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Reconciliation to Adjusted EBITDA | |||||||||||||||||
| Net earnings attributable to United States Steel Corporation | $ | 119 | $ | 299 | $ | 473 | 975 | ||||||||||
| Income tax (benefit) expense | (10) | 42 | 84 | 237 | |||||||||||||
| Net interest and other financial benefits | (61) | (64) | (174) | (182) | |||||||||||||
| Depreciation, depletion and amortization expense | 235 | 230 | 662 | 675 | |||||||||||||
| EBITDA | 283 | 507 | 1,045 | 1,705 | |||||||||||||
| Restructuring and other charges | 5 | 18 | 11 | 21 | |||||||||||||
| Stock-based compensation expense | 10 | 14 | 37 | 37 | |||||||||||||
| Asset impairment charges | — | — | 19 | 4 | |||||||||||||
| Environmental remediation charges | 1 | 9 | 4 | 11 | |||||||||||||
| Strategic alternatives review process costs | 18 | 16 | 59 | 16 | |||||||||||||
| Granite City idling costs | — | 14 | — | 14 | |||||||||||||
| Other charges, net | 2 | — | 1 | 1 | |||||||||||||
| Adjusted EBITDA | $ | 319 | $ | 578 | $ | 1,176 | $ | 1,809 | |||||||||
Net earnings margin (a) | 3.1 | % | 6.7 | % | 3.9 | % | 7.0 | % | |||||||||
Adjusted EBITDA margin (a) | 8.3 | % | 13.0 | % | 9.7 | % | 13.0 | % | |||||||||
(a) The net earnings and adjusted EBITDA margins represent net earnings or adjusted EBITDA divided by net sales. | |||||||||||||||||
©2024 U. S. Steel All Rights Reserved www.ussteel.com United States Steel Corporation
News Release
| UNITED STATES STEEL CORPORATION | |||||||||||||||||
| NON-GAAP FINANCIAL MEASURES | |||||||||||||||||
| RECONCILIATION OF PAST TWELVE MONTHS OF FREE AND INVESTABLE CASH FLOW | |||||||||||||||||
| 4th | 1st | 2nd | 3rd | ||||||||||||||
| Quarter | Quarter | Quarter | Quarter | Total of the | |||||||||||||
| (Dollars in millions) | 2023 | 2024 | 2024 | 2024 | Four Quarters | ||||||||||||
| Net cash provided (used) by operating activities | $ | 389 | $ | (28) | $ | 474 | $ | 265 | $ | 1,100 | |||||||
| Net cash used in investing activities | (633) | (645) | (630) | (509) | (2,417) | ||||||||||||
| Free cash flow | (244) | (673) | (156) | (244) | (1,317) | ||||||||||||
| Strategic capital expenditures | 425 | 468 | 468 | 346 | 1,707 | ||||||||||||
| Investable free cash flow | $ | 181 | $ | (205) | $ | 312 | $ | 102 | $ | 390 | |||||||
©2024 U. S. Steel All Rights Reserved www.ussteel.com United States Steel Corporation
News Release
We present adjusted net earnings, adjusted net earnings per diluted share, earnings before interest, income taxes, depreciation and amortization (EBITDA), adjusted EBITDA and adjusted EBITDA margin, which are non-GAAP measures, as additional measurements to enhance the understanding of our operating performance. We believe that EBITDA, considered along with net earnings, is a relevant indicator of trends relating to our operating performance and provides management and investors with additional information for comparison of our operating results to the operating results of other companies.
Adjusted net earnings and adjusted net earnings per diluted share are non-GAAP measures that exclude the effects of items that include: restructuring and other charges, stock-based compensation expense, asset impairment charges, VEBA asset surplus adjustment, environmental remediation charges, strategic alternatives review process costs, Granite City idling costs, tax impact of adjusted items and other charges, net (Adjustment Items). Adjusted EBITDA and adjusted EBITDA margins are also non-GAAP measures that exclude the effects of certain Adjustment Items. We present adjusted net earnings, adjusted net earnings per diluted share, adjusted EBITDA and adjusted EBITDA margin to enhance the understanding of our ongoing operating performance and established trends affecting our core operations by excluding the effects of events that can obscure underlying trends. U. S. Steel's management considers adjusted net earnings, adjusted net earnings per diluted share, adjusted EBITDA, and adjusted EBITDA margin as alternative measures of operating performance and not alternative measures of the Company's liquidity. U. S. Steel’s management considers adjusted net earnings, adjusted net earnings per diluted share, adjusted EBITDA, and adjusted EBITDA margin useful to investors by facilitating a comparison of our operating performance to the operating performance of our competitors. Additionally, the presentation of adjusted net earnings, adjusted net earnings per diluted share, adjusted EBITDA, and adjusted EBITDA margin provides insight into management’s view and assessment of the Company’s ongoing operating performance because management does not consider the Adjustment Items when evaluating the Company’s financial performance. Adjusted net earnings, adjusted net earnings per diluted share, adjusted EBITDA, and adjusted EBITDA margin should not be considered a substitute for net earnings, earnings per diluted share or other financial measures as computed in accordance with U.S. GAAP and are not necessarily comparable to similarly titled measures used by other companies.
We also present free cash flow, a non-GAAP measure of cash generated from operations after any investing activity and investable free cash flow, a non-GAAP measure of cash generated from operations after any investing activity adjusted for strategic capital expenditures. We believe that free cash flow and investable free cash flow provide further insight into the Company's overall utilization of cash. A condensed consolidated statement of operations (unaudited), condensed consolidated cash flow statement (unaudited), condensed consolidated balance sheet (unaudited) and preliminary supplemental statistics (unaudited) for U. S. Steel are attached.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This release contains information regarding the Company and Nippon Steel Corporation ("NSC") that may constitute “forward-looking statements,” as that term is defined under the Private Securities Litigation Reform Act of 1995 and other securities laws, that are subject to risks and uncertainties. We intend the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in those sections. Generally, we have identified such forward-looking statements by using the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “target,” “forecast,” “aim,” “should,” “plan,” “goal,” “future,” “will,” “may” and similar expressions or by using future dates in connection with any discussion of, among other things, statements expressing general views about future operating or financial results, operating or financial performance, trends, events or developments that we expect or anticipate will occur in the future, anticipated cost savings, potential capital and operational cash improvements and changes in the global economic environment, the construction or operation of new or existing facilities or capabilities, statements regarding our greenhouse gas emissions reduction goals, as well as statements regarding the proposed transaction between the Company and NSC, including the timing of the completion of the transaction. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. Forward-looking statements include all statements that are not historical facts, but instead represent only the Company’s beliefs regarding
©2024 U. S. Steel All Rights Reserved www.ussteel.com United States Steel Corporation
News Release
future goals, plans and expectations about our prospects for the future and other events, many of which, by their nature, are inherently uncertain and outside of the Company’s or NSC’s control. It is possible that the Company’s or NSC’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Management of the Company believes that these forward-looking statements are reasonable as of the time made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. In addition, forward looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the Company’s or NSC's historical experience and our present expectations or projections. Risks and uncertainties include without limitation: the ability of the parties to consummate the proposed transaction on a timely basis or at all; the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the proposed transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreement and plan of merger relating to the proposed transaction (the “Merger Agreement”); the risk that the parties to the Merger Agreement may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all; risks related to disruption of management time from ongoing business operations due to the proposed transaction; certain restrictions during the pendency of the proposed transaction that may impact the Company’s ability to pursue certain business opportunities or strategic transactions; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the Company’s common stock; the risk of any unexpected costs or expenses resulting from the proposed transaction; the risk of any litigation relating to the proposed transaction; the risk that the proposed transaction and its announcement could have an adverse effect on the ability of the Company or NSC to retain customers and retain and hire key personnel and maintain relationships with customers, suppliers, employees, stockholders and other business relationships and on its operating results and business generally; and the risk the pending proposed transaction could distract management of the Company. The Company directs readers to its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 and Form 10-K for the year ended December 31, 2023, and the other documents it files with the SEC for other risks associated with the Company’s future performance. These documents contain and identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements. All information in this report is as of the date above. The Company does not undertake any duty to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations whether as a result of new information, future events or otherwise, except as required by law.
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2024-042
Founded in 1901, United States Steel Corporation is a leading steel producer. With an unwavering focus on safety, the Company’s customer-centric Best for All® strategy is advancing a more secure, sustainable future for U. S. Steel and its stakeholders. With a renewed emphasis on innovation, U. S. Steel serves the automotive, construction, appliance, energy, containers, and packaging industries with high value-added steel products such as U. S. Steel’s proprietary XG3® advanced high-strength steel. The Company also maintains competitively advantaged iron ore production and has an annual raw steelmaking capability of 25.4 million net tons. U. S. Steel is headquartered in Pittsburgh, Pennsylvania, with world-class operations across the United States and in Central Europe. For more information, please visit www.ussteel.com.
©2024 U. S. Steel All Rights Reserved www.ussteel.com United States Steel Corporation