United States Steel Posts Record Quarterly Results And 500M Dollars Share Buyback 

United States Steel Corporation is an American steel company, the second largest in the United States and the 26th in the world for 2017. The total market capitalization of the company is more than 5 billion dollars. Further, United States Steel stock prices were down by 0.11% to $18.59 as of the market closed on Thursday, and now in the pre-market, it is illustrating a positive sign by 2% to $19.05. On January 27, the Company published its financial results in which the profits were higher than predicted.

United States Steel

The quarterly report represents net earnings of $1.069B or $3.75/diluted share, while for the whole year, it came out of $4.174B or $14.88/diluted share. Adjusted net profit was about $1.038 billion, and $3.780 billion was presented for 2021. Recall that, the Company repurchased $150 million of its common shares in the fourth quarter of 2021 under the $300 million stock buyback in October 2021. As a result, the Board of Directors authorized a new $500 million share repurchase program, which is planned for the first quarter of 2022.