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U. S. Steel (X) Reaches Tentative Labor Agreement With USW
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United States Steel Corporation (X - Free Report) recently reached a tentative agreement with the United Steelworkers (“USW”) on four-year contracts covering roughly 14,000 USW-represented employees at the company’s domestic facilities.
U.S. Steel noted that the tentative agreement, which remains subject to ratification, covers workers across all of its domestic flat-rolled and iron ore mining facilities as well as tubular operations in Fairfield, AL, Lorain, OH, and Lone Star, TX. Details of the agreement are expected to be made available following the completion of the ratification process.
The company stated that the new agreement is in the best long-term interests of its employees as well as its customers, shareholders and other stakeholders. It will also enable U.S. Steel to implement its long-term business strategy.
U.S. Steel, which is one of the leading U.S. steel producers along with Nucor Corporation (NUE - Free Report) , Steel Dynamics, Inc. (STLD - Free Report) and AK Steel Holding Corporation , remains focused on improving its cost structure and operations on a sustainable basis through its “Carnegie Way” initiative that includes actions such as manufacturing process/logistics improvements and savings on SG&A costs.
As part of the Carnegie Way initiative, the company is implementing an asset revitalization plan aimed at improving its profitability and competitiveness. Carnegie Way actions are expected to deliver meaningful benefits in 2018.
U.S. Steel, in August, raised its adjusted EBITDA guidance for 2018 to roughly $1.85-$1.90 billion (from of $1.7-$1.8 billion), factoring in the success of its $2-billion asset revitalization program.
The company also expects adjusted EBITDA for the third quarter of 2018 at roughly $525 million. Results in the company’s Flat-rolled segment are forecast to witness consistent improvement as more of its adjustable contract and spot shipments realize the benefit of improvement in the second quarter in index prices. However, these are expected to be partly offset by higher planned outage costs.
The company expects positive results in the Tubular division as selling price hikes catch up the rising substrate costs. Results in the European segment are projected to decline in the third quarter due to planned outages and normal seasonal customer demand patterns.
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U. S. Steel (X) Reaches Tentative Labor Agreement With USW
United States Steel Corporation (X - Free Report) recently reached a tentative agreement with the United Steelworkers (“USW”) on four-year contracts covering roughly 14,000 USW-represented employees at the company’s domestic facilities.
U.S. Steel noted that the tentative agreement, which remains subject to ratification, covers workers across all of its domestic flat-rolled and iron ore mining facilities as well as tubular operations in Fairfield, AL, Lorain, OH, and Lone Star, TX. Details of the agreement are expected to be made available following the completion of the ratification process.
The company stated that the new agreement is in the best long-term interests of its employees as well as its customers, shareholders and other stakeholders. It will also enable U.S. Steel to implement its long-term business strategy.
U.S. Steel, which is one of the leading U.S. steel producers along with Nucor Corporation (NUE - Free Report) , Steel Dynamics, Inc. (STLD - Free Report) and AK Steel Holding Corporation , remains focused on improving its cost structure and operations on a sustainable basis through its “Carnegie Way” initiative that includes actions such as manufacturing process/logistics improvements and savings on SG&A costs.
As part of the Carnegie Way initiative, the company is implementing an asset revitalization plan aimed at improving its profitability and competitiveness. Carnegie Way actions are expected to deliver meaningful benefits in 2018.
U.S. Steel, in August, raised its adjusted EBITDA guidance for 2018 to roughly $1.85-$1.90 billion (from of $1.7-$1.8 billion), factoring in the success of its $2-billion asset revitalization program.
The company also expects adjusted EBITDA for the third quarter of 2018 at roughly $525 million. Results in the company’s Flat-rolled segment are forecast to witness consistent improvement as more of its adjustable contract and spot shipments realize the benefit of improvement in the second quarter in index prices. However, these are expected to be partly offset by higher planned outage costs.
The company expects positive results in the Tubular division as selling price hikes catch up the rising substrate costs. Results in the European segment are projected to decline in the third quarter due to planned outages and normal seasonal customer demand patterns.
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It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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