Morgan Stanley Reiterates Overweight on US Steel (X) After Q3 Guidance and Deleveraging Update, Shares Down 12% Since Thursday

United States Steel Corporation Provides Third Quarter 2021 Guidance and Deleveraging Update

PITTSBURGH--(BUSINESS WIRE)-- United States Steel Corporation (NYSE: X) today provided third quarter 2021 guidance. Third quarter 2021 adjusted EBITDA is expected to be approximately $2.0 billion. This compares to second quarter 2021 adjusted EBITDA of approximately $1.3 billion.

We expect the third quarter to be a quarter of records for U. S. Steel. Supported by strong reliability and quality performance, sustained customer demand, and continued increases in steel selling prices, we expect our Best for All business model to generate record quarterly adjusted EBITDA and EBITDA margins, demonstrating the power of our strategy, commented U. S. Steel... More

United States Steel Corporation Announces a Site Selection Process to Expand its Mini Mill Steelmaking Advantage

PITTSBURGH--(BUSINESS WIRE)-- United States Steel Corporation (NYSE: X) today announced, as part of the continued transition to its Best for All strategy, an exploratory site selection process to build a new state-of-the-art mini mill in the United States. The U. S. Steel Board of Directors has authorized an exploratory site selection process to build capability with a new, three-million-ton mini mill flat-rolled facility to be constructed in the United States. The planned mini mill will combine two state-of-the-art electric arc furnaces (EAF) with differentiated steelmaking and finishing technology, including purchased equipment already... More