United States Steel Corp ( (X) ) has released its Q3 earnings. Here is a breakdown of the information United States Steel Corp presented to its investors.
Founded in 1901, United States Steel Corporation is a prominent steel producer, with a focus on innovation and sustainability, serving various industries including automotive and construction. The company has a substantial annual raw steelmaking capability and operates both in the United States and Central Europe.
In the third quarter of 2024, United States Steel Corporation reported net earnings of $119 million, translating to $0.48 per diluted share. Despite a decrease from the previous year’s performance, the company demonstrated resilience amid challenging market conditions, supported by strategic business initiatives.
Key financial highlights include adjusted net earnings of $140 million, or $0.56 per diluted share, and an adjusted EBITDA of $319 million. The company’s North American Flat-Rolled segment benefitted from a strong commercial strategy, while the Mini Mill and USSE segments showed mixed results due to market pressures. Strategic highlights include the first coil production at Big River 2, signifying major growth investments.
Moving forward, United States Steel anticipates adjusted EBITDA for the fourth quarter to range between $225 million and $275 million. While some segments might experience slight declines, improvements are expected in the Mini Mill segment, supported by strategic investments and anticipated price improvements.
