Why US Steel Shares Are Surging Afterhours Today - United States Steel (NYSE:X)

United States Steel Corporation X provides 2Q22 guidance; It expects adjusted EBITDA of ~$1.6 billion.
The company expects adjusted net earnings per diluted share of $3.83 to $3.88, versus a consensus of $3.20.
United Steels' balance sheet remains strong with an overfunded pension plan and no significant debt maturities until 2029. The company's current cash position is approaching $3 billion.
Quarter to date, United States Steel repurchased ~$320 million of common stock. As of June 16, 2022, there is ~$210 million remaining under the $800 million stock buyback authorization.
"We expect to continue delivering record performance in the second quarter, with each business segment meaningfully contributing to profitability," commented U. S. Steel President and Chief Executive Officer David B. Burritt.
"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," Burritt added.
Price Action: X shares are trading higher by 5.21% at $20.61 during the post-market session on Thursday.
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United States Steel Stock Gains On Strong Q2 Outlook