United States Steel Corporation reported Q3 2024 net earnings of $119 million ($0.48 per diluted share), down from $299 million ($1.20 per diluted share) in Q3 2023. Net sales decreased 13% to $3.85 billion from $4.43 billion year-over-year, primarily due to lower average realized prices and shipment volumes across most segments. The company's cash and cash equivalents stood at $1.77 billion with total liquidity of $4.05 billion as of September 30, 2024.The company's performance was impacted by market challenges across all segments. The Flat-Rolled segment saw decreased earnings due to lower shipments and prices, while Mini Mill results declined on lower prices despite higher volumes. USSE results improved due to lower raw material costs and CO2 emission adjustments, though Tubular segment earnings fell on lower prices. Strategic project Big River...Show More

United States Steel Corporation reported Q3 2024 net earnings of $119 million ($0.48 per diluted share), down from $299 million ($1.20 per diluted share) in Q3 2023. Net sales decreased 13% to $3.85 billion from $4.43 billion year-over-year, primarily due to lower average realized prices and shipment volumes across most segments. The company's cash and cash equivalents stood at $1.77 billion with total liquidity of $4.05 billion as of September 30, 2024.The company's performance was impacted by market challenges across all segments. The Flat-Rolled segment saw decreased earnings due to lower shipments and prices, while Mini Mill results declined on lower prices despite higher volumes. USSE results improved due to lower raw material costs and CO2 emission adjustments, though Tubular segment earnings fell on lower prices. Strategic project Big River 2 achieved first coil in October 2024, with total capital spend expected at $3.6 billion.The proposed merger with Nippon Steel Corporation continues to progress, with stockholders approving the deal with 98.8% of votes in favor. The companies are pursuing required U.S. regulatory approvals and working to close the transaction in Q4 2024. All required regulatory approvals outside the U.S. have been received, and the United Steelworkers Board of Arbitration ruled that successorship obligations have been satisfied.