Chesterton Tribune

 

 

USS posts earnings of $1.115B in 2018

Back To Front Page

 

By KEVIN NEVERS

U.S. Steel Corporation (USS) is reporting a net earnings in 2018 of $1.115 billion or $6.24 per diluted share, compared to $387 million or $2.19 in 2017.

In the fourth quarter of 2018, USS is reporting net earnings of $592 million or $3.34 per diluted share, compared to $159 million or 90 cents in the year-ago period.

“We are pleased with both the strong earnings we reported in 2018 and the important progress we made on our strategic objectives,” USS President and CE) David Burritt said in a statement released on Wednesday. “We are encouraged by the effectiveness of the investments we are making and remain focused on improving our operating and commercial performance to drive long-term value creation for our stockholders.”

USS expects 1Q EBITDA (earnings before interest, taxes, depreciation, and amortization) to be approximately $225, excluding the anticipated 1Q impacts of the Dec. 24 at its Clairton coke-making facility.

USS expects 1Q EBITDA for flat-rolled to be higher than the year-ago, “primarily due to higher average realized selling prices, partially offset by higher raw materials costs.”

2018 Numbers

* Average realized per net ton of flat-rolled: $811 ($726 in 2017).

* Total USS and U.S. Steel Europe shipments: 25.74 million net tons (15.16 million in 2017).

* Flat-rolled steel capability at U.S. facilities: 70 percent (64 percent in 2017).

* Raw flat-rolled steel production at U.S. facilities: 11.89 million net tons (10.82 million in 2017).

* Flat-rolled capital expenditures: $820 million ($388 million in 2017).

* Intersegment shipments of flat-rolled to tubular: 224,000 net tons (158,000 in 2017).

* Net sales: $14.17 billion ($12.25 billion in 2017).

* Flat-rolled segment earnings: $883 million ($385 million in 2017).

* U.S. Steel Europe segment earnings: $359 million ($327 million in 2017).

* Tubular segment loss: $58 million (loss of $99 million in 2017).

* Other business segment earnings: $55 million ($44 million in 2017).

4Q Numbers

* Average realized per net ton of flat-rolled: $823 ($717 in year-ago).

* Total USS and U.S. Steel Europe shipments: 4.02 million net tons (3.87 million in year-ago).

* Flat-rolled steel capability at U.S. facilities: 78 percent (60 percent in year-ago).

* Raw flat-rolled steel production at U.S. facilities: 3.33 million net tons (2.57 million in year-ago).

* Flat-rolled capital expenditures: $289 million ($182 million in year-ago).

* Intersegment shipments of flat-rolled to tubular: 66,000 net tons (21,000 in year-ago).

* Net sales: $3.69 billion ($3.13 billion in year-ago).

* Flat-rolled segment earnings: $328 million ($82 million in year-ago).

* U.S. Steel Europe segment earnings: $62 million ($112 million in year-ago).

* Tubular segment loss: $3 million (loss of $6 million in year-ago).

* Other business segment earnings: $11 million ($10 million in year-ago).

 

 

Posted 1/31/2019

 
 
 
 

 

 

Search This Site:

Custom Search