US Steel Reports Loss for 2020
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US Steel Reports Loss for 2020

United States Steel Corporation has reported net loss was of USD 1,165 million for 2020. Adjusted net loss was USD 920 million in 2020 as compares to 2019

United States Steel Corporation has reported net loss was of USD 1,165 million for 2020. Adjusted net loss was USD 920 million in 2020 as compares to 2019 net loss of USD 630 million. US Steel President and CEO Mr David B Burritt said “We finished 2020 strong and are optimistic about the opportunity to deliver incremental value for our stakeholders in 2021. Our fourth quarter adjusted EBITDA of USD 87 million is only just beginning to show the potential of our earnings growth as we begin to realize the benefits of higher prices, adaptive operations, and our continued focus on cost management. Our performance continues to strengthen as we enter 2021 and we are bullish that the market will continue to be fueled by robust demand, low inventories, and supportive raw material prices.”

Commenting on its Best of BothSM strategy execution in 2020, Burritt continued, “The team at US Steel created unprecedented value in the trough by continuing our transformation into a world-competitive, Best of Both steel producer. By keeping the business resilient, we were able to execute our number one strategic priority to acquire the remaining stake in Big River Steel. With Big River Steel now fully part of the U. S. Steel portfolio, we are well positioned to drive significant earnings growth while delivering our customers an unmatched value proposition. Our future starts now and we cannot wait to show the world the value that the only Best of Both steel company can create.”

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