US Steel Q4 Earnings Boosted by High Steel Prices
US Steel reported its Q4 2021 results with net income of $1.07bn, 22x its numbers during the same period last year that were impacted by the pandemic. Net sales rose 119% YoY to $5.6bn. The steel company said that it plans to buyback $500mn of stock beginning in Q1...
US Steel Upgraded to Ba3 by Moody’s
US Steel was upgraded to Ba3 from B1 by Moody’s. The rating agency notes that US Steel’s operating results have materially strengthened in 2021, expecting an adjusted EBITDA of ~$6bn. This comes after a quicker than expected recovery in its key end...
US Steel Upgraded to BB- by Fitch
US Steel was upgraded to BB- from B with a positive outlook reflecting “significant debt repayment over the near term, solid steel market conditions, including historically high steel prices.” These would result in significantly higher EBITDA generation...
