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U.S. Steel (X) Executes MOU With Equinor for Hydrogen and CCS
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United States Steel Corporation (X - Free Report) announced the execution of a non-exclusive Memorandum of Understanding (“MOU”) with Equinor US Holdings Inc., an affiliate of Equinor ASA. Per the MOU, the companies will assess the potential for carbon capture and storage (“CCS”) and hydrogen development in the tri-state region of Ohio, Pennsylvania, and West Virginia.
At present, hydrogen-based steel processes and CCS are the most promising and sustainable technologies being developed.
The main objective of the MOU is to study the technological and commercial possibilities for hydrogen and CCS. The industry leaders recognize the potential for natural gas along with CCS in the reduction of carbon emissions. The companies intend to explore and demonstrate the potential opportunities for natural gas with CCS to achieve decarbonization goals.
The scope of work of the MOU includes the evaluation of regional hydrogen and CCS potential, appropriate customer and supplier screenings, blue hydrogen advocacy, CCS as well as studying renewable energy synergies.
Shares of U.S. Steel have surged 239.5% in the past year compared with 145.7% rise of the industry.
Image Source: Zacks Investment Research
U.S. Steel recently announced guidance for second-quarter 2021. The company’s adjusted EBITDA is projected to be around $1.2 billion. The adjusted net income is forecast to be roughly $880 million and excludes impacts mainly associated with certain restructuring and asset impairment charges. Also, the company expects second-quarter adjusted earnings per share to be around $3.08.
United States Steel Corporation Price and Consensus
U.S. Steel currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the basic materials space are Nucor Corporation (NUE - Free Report) , Olin Corporation (OLN - Free Report) and Cabot Corporation (CBT - Free Report) .
Nucor has a projected earnings growth rate of around 344.9% for the current year. The company’s shares have surged 134.4% in a year. It currently flaunts a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Olin has an expected earnings growth rate of around 506.7% for the current year. The company’s shares have skyrocketed 321.3% in the past year. It currently sports a Zacks Rank #1.
Cabot has an expected earnings growth rate of around 137.5% for the current fiscal. The company’s shares have surged 54.3% in the past year. It currently flaunts a Zacks Rank #1.
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Image: Bigstock
U.S. Steel (X) Executes MOU With Equinor for Hydrogen and CCS
United States Steel Corporation (X - Free Report) announced the execution of a non-exclusive Memorandum of Understanding (“MOU”) with Equinor US Holdings Inc., an affiliate of Equinor ASA. Per the MOU, the companies will assess the potential for carbon capture and storage (“CCS”) and hydrogen development in the tri-state region of Ohio, Pennsylvania, and West Virginia.
At present, hydrogen-based steel processes and CCS are the most promising and sustainable technologies being developed.
The main objective of the MOU is to study the technological and commercial possibilities for hydrogen and CCS. The industry leaders recognize the potential for natural gas along with CCS in the reduction of carbon emissions. The companies intend to explore and demonstrate the potential opportunities for natural gas with CCS to achieve decarbonization goals.
The scope of work of the MOU includes the evaluation of regional hydrogen and CCS potential, appropriate customer and supplier screenings, blue hydrogen advocacy, CCS as well as studying renewable energy synergies.
Shares of U.S. Steel have surged 239.5% in the past year compared with 145.7% rise of the industry.
U.S. Steel recently announced guidance for second-quarter 2021. The company’s adjusted EBITDA is projected to be around $1.2 billion. The adjusted net income is forecast to be roughly $880 million and excludes impacts mainly associated with certain restructuring and asset impairment charges. Also, the company expects second-quarter adjusted earnings per share to be around $3.08.
United States Steel Corporation Price and Consensus
United States Steel Corporation price-consensus-chart | United States Steel Corporation Quote
Zacks Rank & Other Key Picks
U.S. Steel currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the basic materials space are Nucor Corporation (NUE - Free Report) , Olin Corporation (OLN - Free Report) and Cabot Corporation (CBT - Free Report) .
Nucor has a projected earnings growth rate of around 344.9% for the current year. The company’s shares have surged 134.4% in a year. It currently flaunts a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Olin has an expected earnings growth rate of around 506.7% for the current year. The company’s shares have skyrocketed 321.3% in the past year. It currently sports a Zacks Rank #1.
Cabot has an expected earnings growth rate of around 137.5% for the current fiscal. The company’s shares have surged 54.3% in the past year. It currently flaunts a Zacks Rank #1.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
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