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US Steel Announces Record Q3 Results

Ukraine / Ferrous metallurgy

Sales for the quarter more than doubled to $ 5.96 billion from $ 2.34 billion a year earlier

US Steel Announces Record Q3 Results

United States Steel Corporation (US Steel) has announced record results for the third quarter of 2021. The Pittsburgh steel company has benefited from the improving market environment.

Third-quarter sales more than doubled to $ 5.96 billion from $ 2.34 billion a year earlier.

The company reported net income of $ 2.002 billion, or $ 6.97 per share, for the quarter. Adjusted net income for the quarter was $ 1.543 billion, or $ 5.36 per share. In the corresponding quarter of last year, US Steel reported a net loss of $ 234 million, or $ 1.06 per share, and an adjusted net loss of $ 268 million, or $ 1.21 per share, the company said in a press release.

The company's board of directors approved an increase in quarterly dividends to 5 cents per share, which will be paid on December 9 to all registered shareholders on November 8, 2021. The board also approved a share buyback program for up to $ 300 million.

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