United States Steel Corporation Reports Fourth Quarter and Full-Year 2023 Results

  • ourth quarter 2023 net loss of $80 million, or $0.36 per diluted share; full-year 2023 net earnings of $895 million, or $3.56 per diluted share.
  • Fourth quarter 2023 adjusted net earnings of $167 million, or $0.67 per diluted share; full-year 2023 adjusted net earnings of $1,195 million, or $4.73 per diluted share.
  • Fourth quarter 2023 adjusted EBITDA of $330 million; full-year 2023 adjusted EBITDA of $2,139 million.

U. S. Steel Confirms Receipt of Unsolicited Proposals from Cleveland-Cliffs and Multiple Other Parties; Reaffirms Competitive Strategic Review Process to Maximize Stockholder Value

United States Steel Corporation (NYSE: X) (“U. S. Steel” or “the Company”) today confirmed that it has invited Cleveland-Cliffs Inc. (“Cleveland-Cliffs”) to participate in its previously announced strategic review process. The Company previously disclosed it has commenced a formal review process, with the assistance of outside financial and legal advisors, to evaluate strategic alternatives for the Company after receiving multiple unsolicited proposals that ranged from the acquisition of certain production assets to consideration for the whole Company.

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