<p>Pittsburgh US head quartered United States Steel Corporation has reported January-March 2022 quarter net earnings of USD 882 million, up by 869% YoY as compared to USD 91 million in January-March 2021. US Steel President & Chief Executive Officer Mr David B Burritt said “It was another quarter of records at US Steel with the continued demonstration of the power of our Best for All strategy. Another all-time best quarter of safety and continued operational excellence supported adjusted net income of nearly USD 900 million, adjusted EBITDA of over $1.3 billion & adjusted EBITDA margins of 26%. Our Mini Mill segment delivered 38% EBITDA margins, outperforming both mini mill and integrated peers.”</p><p>January-March 2022 Quarter</p><p>------------------------------------</p><p>Net Sales – USD 5,234 million, up 43% YoY</p><p>Flat Rolled EBIT – USD 513 million, up 251% YoY</p><p>Mini Mill EBIT – USD 278 million, up 111% YoY</p><p>US Steel Europe EBIT – USD 264 million, up 151% YoY</p><p>Tubular EBIT - USD 77 million, up 166% YoY</p><p>Steel Shipments</p><p>--------------------</p><p>Total - 3.692 million net ton, down 6%</p><p>Flat-Rolled - 1.947 million net ton, down 17%</p><p>Mini Mill - 0.507 million net ton, up 13%</p><p>US Steel Europe - 1.110 million net ton, up 6%</p><p>Tubular - 0.128 million net ton, up 44%</p><p>Average Realized Price</p><p>-----------------------------</p><p>Flat Rolled –USD 1,368 per net ton, up 54% YoY</p><p>Mini Mill –USD 1,372 per net ton, up 42% YoY</p><p>US Steel Europe –USD 1,109 per net ton, up 48% YoY</p><p>US Steel Europe –EUR 988 per tonne, up 59% YoY</p><p>Tubular –USD 2,349 per net ton, up 71% YoY</p><p>Mr Burritt said “We currently expect the second quarter to be the company’s all-time best second quarter as our balanced customer portfolio, raw materials integration and operating leverage is expected to expand adjusted EBITDA and support another quarter of strong EBITDA margin and cash generation. With each quarter of record performance and continued on-time and on-budget progress on our strategic investments, we believe US. Steel is well positioned to earn a significantly higher multiple as we demonstrate improved earnings performance, higher free cash flow, increasing direct returns to stockholders and outstanding leadership in innovation and research and development.”</p>
<p>Pittsburgh US head quartered United States Steel Corporation has reported January-March 2022 quarter net earnings of USD 882 million, up by 869% YoY as compared to USD 91 million in January-March 2021. US Steel President & Chief Executive Officer Mr David B Burritt said “It was another quarter of records at US Steel with the continued demonstration of the power of our Best for All strategy. Another all-time best quarter of safety and continued operational excellence supported adjusted net income of nearly USD 900 million, adjusted EBITDA of over $1.3 billion & adjusted EBITDA margins of 26%. Our Mini Mill segment delivered 38% EBITDA margins, outperforming both mini mill and integrated peers.”</p><p>January-March 2022 Quarter</p><p>------------------------------------</p><p>Net Sales – USD 5,234 million, up 43% YoY</p><p>Flat Rolled EBIT – USD 513 million, up 251% YoY</p><p>Mini Mill EBIT – USD 278 million, up 111% YoY</p><p>US Steel Europe EBIT – USD 264 million, up 151% YoY</p><p>Tubular EBIT - USD 77 million, up 166% YoY</p><p>Steel Shipments</p><p>--------------------</p><p>Total - 3.692 million net ton, down 6%</p><p>Flat-Rolled - 1.947 million net ton, down 17%</p><p>Mini Mill - 0.507 million net ton, up 13%</p><p>US Steel Europe - 1.110 million net ton, up 6%</p><p>Tubular - 0.128 million net ton, up 44%</p><p>Average Realized Price</p><p>-----------------------------</p><p>Flat Rolled –USD 1,368 per net ton, up 54% YoY</p><p>Mini Mill –USD 1,372 per net ton, up 42% YoY</p><p>US Steel Europe –USD 1,109 per net ton, up 48% YoY</p><p>US Steel Europe –EUR 988 per tonne, up 59% YoY</p><p>Tubular –USD 2,349 per net ton, up 71% YoY</p><p>Mr Burritt said “We currently expect the second quarter to be the company’s all-time best second quarter as our balanced customer portfolio, raw materials integration and operating leverage is expected to expand adjusted EBITDA and support another quarter of strong EBITDA margin and cash generation. With each quarter of record performance and continued on-time and on-budget progress on our strategic investments, we believe US. Steel is well positioned to earn a significantly higher multiple as we demonstrate improved earnings performance, higher free cash flow, increasing direct returns to stockholders and outstanding leadership in innovation and research and development.”</p>
