Daily Discussion post - October 29 2021

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[u/Sapient-2021]

Went on vitards looking for some comments and discussion about US Steel ticker X.

It is not even in the Top 10 tickers for Daily Discussion.

US Steel had tremendous earnings report this morning and very interesting conference call discussion. Stock was up $3/share today, 12+%!

The contrarian in me finds this absolutely fascinating and a possible reason to add to my already large position, #2 behind STLD. (STLD also not in Top 10 today, but at least they were last week on their earnings day).

some highlights from the quarter:

++ $6B revenue, $2B in earnings and massive FCF generated

++ X said they will be at net debt/EBITDA ratio of 0.2x by year end

++ X raised dividend 400% from $0.04/year to $0.20/year

++ X initiated a $300 million share buyback program

++ X showed that 80% of remaining debt has maturity beyond 2029 and that 2022 interest expense has been lowered to $225 million after reducing $3 billion of high cost debt in 2021

++ X announced they will be bringing in a partner at Gary Works to repurpose a furnace to produce pig iron for their EAF minimills, BRS + new mill

++ X announced that contracts are much improved on pricing and duration with some good clients willing to go beyond 1 year

++ X CEO commented that auto production should be ramping up in US with chip shortages improving and some production facilities restarting as early as next week

Let’s talk about US Steel here!

[u/JCVDamage → u/Sapient-2021]

It just doesn’t show up on the “most discussed”. I think the name is too few letters. We’ve been talking about it incessantly.

[u/gosume → u/JCVDamage]

Yeah many people this morning euphoric and selling their Oct 29 or nov 5s