US Steel reports over $1 billion in net earnings for 2018

Friday, 01 February 2019 01:00:15 (GMT+3)   |   San Diego
       

US Steel reported full-year 2018 net earnings of $1.115 billion on $14.18 billion in net sales, compared to a full-year 2017 net earnings of $387 million on net sales of $12.25 billion.

Fourth quarter 2018 net earnings were $592 million on net sales totaling $3.69 billion, compared to fourth quarter 2017 net earnings of $159 million on net sales of $3.13 billion.

Steel shipments for the full year 2018 totaled 15,747,000 net tons, compared to 15,160,000 net tons in 2017. Fourth quarter 2018 steel shipments totaled 4,022,000 net tons, compared to 3,873,000 net tons in Q4 2017.

As for a first quarter 2019 outlook, the company said in a statement that it expects adjusted EBITDA to be approximately $225 million, which excludes the expected first quarter impacts of the December 24, 2018 fire at the company’s Clairton coke making facility.
 


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