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U.S. Steel (X) Bets on Warehouse Automation With Freespace
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United States Steel Corporation (X - Free Report) announced a strategic investment in Freespace Robotics, a company based in Pittsburgh that specializes in robotic storage and retrieval systems. This investment is designed to support Freespace's efforts in talent acquisition, retention and the attraction of new professionals to the region.
U.S. Steel stressed that the investment in Freespace Robotics reflects its commitment to fostering innovation while boosting the regional economy and its workforce. With Freespace's ambitious growth plans centered in U.S. Steel’s hometown, this investment underscores its dedication to positioning the region as an innovation hub both domestically and globally. As part of the investment, Jim Cook, director of strategy & corporate development at U.S. Steel, will join Freespace Robotics' board of directors.
Freespace Robotics is renowned for its autonomous storage system, which employs robots to store and retrieve goods in novel ways. Its robots can handle multiple goods simultaneously, accommodate various sizes of goods and perform storage and retrieval tasks in a single action. The investment from U.S. Steel will enable Freespace to conduct pilot programs, establish manufacturing facilities in the region and expand its team.
The warehouse automation market, spanning applications in warehousing, retail, and logistics, is experiencing rapid growth. In the United States alone, it is forecasted to register a Compounded Annual Growth Rate (CAGR) of more than 15% through 2028 and reach a global market value of $44 billion by the same year.
United States Steel Corporation Price and Consensus
Freespace Robotics has emphasized the region's rich history of industrial innovation and the importance of nurturing local talent. U.S. Steel acknowledges the significance of fostering an innovation ecosystem locally, leveraging hometown talent for mutual benefit.
U.S. Steel highlighted the pivotal role of advanced technologies in constructing resilient and efficient supply chains, commending Freespace Robotics for its leadership and innovation in the field.
Freespace Robotics operates within Carnegie Foundry, a Robotics and AI venture studio based in Pittsburgh, in collaboration with the National Robotics Engineering Center (NREC) at Carnegie Mellon University. NREC combines decades of expertise in applied R&D in autonomy with strategic partnerships to bring cutting-edge technology solutions to market. U.S. Steel is a significant investor in Carnegie Foundry.
U.S. Steel’s shares have rallied 75.7% in the past year compared with the industry’s 12.1% rise.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
U.S. Steel currently sports a Zacks Rank #1 (Strong Buy).
The consensus estimate for CRS’ current fiscal year earnings is pegged at $4 per share, indicating a year-over-year surge of 250.9%. CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 12.2%. The company’s shares have increased 50.4% in the past year.
Ecolab has a projected earnings growth rate of 22.65% for the current year. The Zacks Consensus Estimate for ECL’s current-year earnings has been revised upward by 5.4% in the past 60 days. ECL topped the consensus estimate in each of the last four quarters, with the average earnings surprise being 1.7%. The company’s shares have rallied 41.9% in the past year.
The consensus estimate for HWKN’s current fiscal year earnings is pegged at $3.61 per share, indicating a 26% year-over-year rise. HWKN beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 30.6%. The company’s shares have surged 75.4% in the past year.
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U.S. Steel (X) Bets on Warehouse Automation With Freespace
United States Steel Corporation (X - Free Report) announced a strategic investment in Freespace Robotics, a company based in Pittsburgh that specializes in robotic storage and retrieval systems. This investment is designed to support Freespace's efforts in talent acquisition, retention and the attraction of new professionals to the region.
U.S. Steel stressed that the investment in Freespace Robotics reflects its commitment to fostering innovation while boosting the regional economy and its workforce. With Freespace's ambitious growth plans centered in U.S. Steel’s hometown, this investment underscores its dedication to positioning the region as an innovation hub both domestically and globally. As part of the investment, Jim Cook, director of strategy & corporate development at U.S. Steel, will join Freespace Robotics' board of directors.
Freespace Robotics is renowned for its autonomous storage system, which employs robots to store and retrieve goods in novel ways. Its robots can handle multiple goods simultaneously, accommodate various sizes of goods and perform storage and retrieval tasks in a single action. The investment from U.S. Steel will enable Freespace to conduct pilot programs, establish manufacturing facilities in the region and expand its team.
The warehouse automation market, spanning applications in warehousing, retail, and logistics, is experiencing rapid growth. In the United States alone, it is forecasted to register a Compounded Annual Growth Rate (CAGR) of more than 15% through 2028 and reach a global market value of $44 billion by the same year.
United States Steel Corporation Price and Consensus
United States Steel Corporation price-consensus-chart | United States Steel Corporation Quote
Freespace Robotics has emphasized the region's rich history of industrial innovation and the importance of nurturing local talent. U.S. Steel acknowledges the significance of fostering an innovation ecosystem locally, leveraging hometown talent for mutual benefit.
U.S. Steel highlighted the pivotal role of advanced technologies in constructing resilient and efficient supply chains, commending Freespace Robotics for its leadership and innovation in the field.
Freespace Robotics operates within Carnegie Foundry, a Robotics and AI venture studio based in Pittsburgh, in collaboration with the National Robotics Engineering Center (NREC) at Carnegie Mellon University. NREC combines decades of expertise in applied R&D in autonomy with strategic partnerships to bring cutting-edge technology solutions to market. U.S. Steel is a significant investor in Carnegie Foundry.
U.S. Steel’s shares have rallied 75.7% in the past year compared with the industry’s 12.1% rise.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
U.S. Steel currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the Basic Materials space are, Carpenter Technology Corporation (CRS - Free Report) sporting a Zacks Rank #1, and Ecolab Inc. (ECL - Free Report) and Hawkins, Inc. (HWKN - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for CRS’ current fiscal year earnings is pegged at $4 per share, indicating a year-over-year surge of 250.9%. CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 12.2%. The company’s shares have increased 50.4% in the past year.
Ecolab has a projected earnings growth rate of 22.65% for the current year. The Zacks Consensus Estimate for ECL’s current-year earnings has been revised upward by 5.4% in the past 60 days. ECL topped the consensus estimate in each of the last four quarters, with the average earnings surprise being 1.7%. The company’s shares have rallied 41.9% in the past year.
The consensus estimate for HWKN’s current fiscal year earnings is pegged at $3.61 per share, indicating a 26% year-over-year rise. HWKN beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 30.6%. The company’s shares have surged 75.4% in the past year.