According to the financial report announced by US Steel, compared to the first quarter of 2024 to the corresponding period a year ago, its net earnings decreased from US$199 million to US$171 million, and the adjusted net earnings went up from US$195 million to US$206 million.

David B. Burritt, President and CEO of US Steel, praised the company's strong first quarter results, emphasizing maintaining an unwavering focus on safety and the company's progress towards the close of the pending transaction with Nippon Steel Corporation. Besides, its adjusted EBITDA reached US$414 million, which is attributed to a diverse order book and efficient operations. While expecting a stronger second quarter, Burritt highlighted potential challenges in the mini mill and US Steel Europe segments.

Regarding strategic initiatives, Burritt said that the company is nearing completion of capital projects that promise increased earnings. Burritt highlighted the recent launch of their advanced dual Galvalume®/galvanized coating line at Big River Steel. This cutting-edge addition aims to diversify their product range and cater to customer demands. Additionally, progress continues on Big River 2, the new mini mill in Osceola, Arkansas. Scheduled for startup in the latter half of 2024, this project remains firmly on track, marking another step forward in US Steel's growth trajectory.