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UNITED STATES STEEL CORPORATION

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U.S. Steel to Transfer About $284 Million of Pension Obligations

11/11/2021 | 05:02pm EST

By Josh Beckerman

United States Steel Corp. said it will transfer about $284 million of pension plan obligations via a purchase of annuity contracts from two units of Legal & General Group PLC.

The purchase results in the transfer of administrative and benefit-paying responsibilities for about 17,800 U.S. retirees and beneficiaries.

The steel company said "this transaction is yet another meaningful step in strengthening the company's balance sheet and further de-risking our pension plan, a plan that remains more than 100% funded and is an important source of differentiation versus some peers in the steel industry."

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

11-11-21 1701ET

Stocks mentioned in the article
ChangeLast1st jan.
LEGAL & GENERAL PLC 0.69% 289.8 Delayed Quote.-3.26%
UNITED STATES STEEL CORPORATION 0.99% 18.83 Delayed Quote.-21.84%
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Analyst Recommendations on UNITED STATES STEEL CORPORATION
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Financials (USD)
Sales 2021 20 160 M - -
Net income 2021 4 284 M - -
Net Debt 2021 1 373 M - -
P/E ratio 2021 1,25x
Yield 2021 0,41%
Capitalization 5 029 M 5 029 M -
EV / Sales 2021 0,32x
EV / Sales 2022 0,24x
Nbr of Employees 23 350
Free-Float 95,7%
Chart UNITED STATES STEEL CORPORATION
Duration : Period :
United States Steel Corporation Technical Analysis Chart | X | US9129091081 | MarketScreener
Technical analysis trends UNITED STATES STEEL CORPORATION
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Last Close Price 18,61 $
Average target price 31,00 $
Spread / Average Target 66,6%
EPS Revisions
Managers and Directors
David B. Burritt President, Chief Executive Officer & Director
Christine S. Breves Chief Financial Officer & Senior Vice President
David S. Sutherland Non-Executive Chairman
Steven D. Bugajski Chief Information Officer & Vice President
Duane D. Holloway Secretary, SVP, Chief Ethics & Compliance Officer
Sector and Competitors
1st jan.Capi. (M$)
UNITED STATES STEEL CORPORATION-21.84%5 029
ARCELORMITTAL-3.18%28 022
NUCOR CORPORATION-18.49%25 335
TATA STEEL LIMITED-0.25%18 082
POSCO-1.82%17 030
NIPPON STEEL CORPORATION-0.45%15 058