United States Steel Corporation has reported fourth quarter 2022 net earnings of USD 174 million as compared to fourth quarter 2021 net earnings of USD 1.07 billion. Full-year 2022 net earnings were USD 2.52 billion as compared to full-year 2021 net earnings of USD 4.17 billion. US Steel President & Chief Executive Officer Mr David B Burritt said “2022 was another exceptional year for US Steel, marking our second-best financial performance in the Company’s history. Our fourth quarter results exceeded our guidance expectations thanks to the combined efforts of our domestic steelmaking operations and Tubular segment. This includes positive EBITDA in December at our Mini Mill segment, reflecting improving momentum through year-end while continuing to work through higher priced raw materials purchased earlier in 2022. Each of our operating segments contributed meaningfully to 2022’s success, while delivering record safety performance and strong operational excellence, quality, and reliability for our customers.”-------------------Shipments 2022Flat-Rolled - 8,373 million ton, down 7% YoYMini Mill - 2,287 million ton, up 3% YoYUS Steel Europe - 3,759 million ton, down 13% YoYTubular - 523 million ton, up 18% YoYTotal Steel Shipments - 14,942 million ton, down 7% YoY-----------------------------------Average Realized Price 2022Flat-Rolled – USD 1,261 per ton, up 8% YoYMini Mill – USD 1,134 per ton, down 14% YoYUS Steel Europe – EUR 1,029 per ton, up 26% YoYTubular – USD 2,978 per ton, up 76% YoYMr Burritt added “We are well-positioned for 2023. Our record cash and liquidity support a balanced capital allocation approach. We returned approximately $900 million to stockholders in 2022 and plan to continue rewarding stockholders in 2023 while investing in the business. We are already delivering on strategic commitments, including the Gary Works pig iron machine that was commissioned ahead of schedule and on-budget. Later this year, our non-grain oriented electrical steel line at Big River Steel will begin producing advanced steel grades to meet the growing electric vehicle demand. 2023 is a pivotal year in our strategy and we look forward to demonstrating continued progress towards our Best for All future.”
United States Steel Corporation has reported fourth quarter 2022 net earnings of USD 174 million as compared to fourth quarter 2021 net earnings of USD 1.07 billion. Full-year 2022 net earnings were USD 2.52 billion as compared to full-year 2021 net earnings of USD 4.17 billion. US Steel President & Chief Executive Officer Mr David B Burritt said “2022 was another exceptional year for US Steel, marking our second-best financial performance in the Company’s history. Our fourth quarter results exceeded our guidance expectations thanks to the combined efforts of our domestic steelmaking operations and Tubular segment. This includes positive EBITDA in December at our Mini Mill segment, reflecting improving momentum through year-end while continuing to work through higher priced raw materials purchased earlier in 2022. Each of our operating segments contributed meaningfully to 2022’s success, while delivering record safety performance and strong operational excellence, quality, and reliability for our customers.”-------------------Shipments 2022Flat-Rolled - 8,373 million ton, down 7% YoYMini Mill - 2,287 million ton, up 3% YoYUS Steel Europe - 3,759 million ton, down 13% YoYTubular - 523 million ton, up 18% YoYTotal Steel Shipments - 14,942 million ton, down 7% YoY-----------------------------------Average Realized Price 2022Flat-Rolled – USD 1,261 per ton, up 8% YoYMini Mill – USD 1,134 per ton, down 14% YoYUS Steel Europe – EUR 1,029 per ton, up 26% YoYTubular – USD 2,978 per ton, up 76% YoYMr Burritt added “We are well-positioned for 2023. Our record cash and liquidity support a balanced capital allocation approach. We returned approximately $900 million to stockholders in 2022 and plan to continue rewarding stockholders in 2023 while investing in the business. We are already delivering on strategic commitments, including the Gary Works pig iron machine that was commissioned ahead of schedule and on-budget. Later this year, our non-grain oriented electrical steel line at Big River Steel will begin producing advanced steel grades to meet the growing electric vehicle demand. 2023 is a pivotal year in our strategy and we look forward to demonstrating continued progress towards our Best for All future.”
