US Steel Corp. reported full-year 2017 net earnings of $387 million, compared to a full-year 2016 net loss of $440 million. Net sales for the 2017 totaled $12.25 billion, compared to $10.26 billion in 2016.
Fourth quarter 2017 net earnings were $159 million, compared to a fourth quarter 2016 net loss of $105 million. Net sales in Q4 totaled $3.13 billion, compared to $2.65 billion for Q4 2016.
Steel shipments for the full-year 2017 totaled 15.16 million tons, compared to 14.99 million tons in 2016. Steel shipments in Q4 2017 totaled 3.87 million tons, compared to 3.77 million tons in Q4 2016
As for an outlook for 2018, the company said in a statement that it expects 2018 net earnings of approximately $685 million “if market conditions remain at their January 24, 2018 levels.”
“We believe market conditions, which include spot prices, raw material costs, customer demand, import volumes, supply chain inventories, rig counts and energy prices, will change,” the company said, “and as changes occur during the balance of 2018, we expect these changes to be reflected in our net earnings.”