US Steel Corporation expects strong Q2 earnings
In June of 2022, US Steel announced that it expected swell earnings in the second quarter of 2022, based on the company’s strong balance sheet activity, with topped off pension plans and few significant debt obligations maturing before 2029. Overall, according to the company’s Chief Executive Officer in the press release, the company’s “broad end market exposure keeps our business resilient with demand across a diverse customer base, including the resurging energy market. Our focus on strategic end markets and the continued realization of significantly increased fixed price contracts is again expected to generate another quarter of record performance.”
Balance SheetIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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