US Steel Reports USD 4.2 Billion Net Eraning for 2021
Strategic Research Institute
Published on :
28 Jan, 2022, 5:32 am
Pittsburgh-US headquartered United States Steel Corporation has reported that 2021 net earnings was USD 4.174 billion as compared to net loss of USD 1.165 billion in 2020. US Steel President & CEO Mr David B Burritt said “2021 was a year of records and we delivered with record earnings and free cash flow and record safety, environmental, quality, and reliability performance. We enter 2022 from a position of strength and are relentlessly focused on continuing our disciplined approach to creating stockholder value. Our balance sheet has been transformed, record cash significantly de-risks strategy execution, and our capital allocation priorities have enhanced direct stockholder returns. We are a fundamentally different company from a year ago and expect 2022 to be another strong year.”
Financial Performance 2021
Net Sales – USD 20,275 million
Net earnings- USD 4,174 million
EBITDA – USD 5,592 million
Raw Steel Production 2021
Flat-Rolled – 9.381 million net ton, up 1% YoY
Mini Mill – 2.683 million net ton
US Steel Europe – 4.931 million net ton, up 46% YoY
Tubular- 0.464 million net ton, up 2800% YoY
Raw Steel Capability Utilization 2021
Flat-Rolled - 53% (55% 2020)
Mini Mill - 81%
US Steel Europe - 99% (67% 2020)
Tubular - 52% (7% 2020)
Steel Shipments 2021
Flat-Rolled – 9.018 million net ton, up 143% YoY
Mini Mill - 2.230 million net ton
US Steel Europe – 4.302 million net ton, up 41% YoY
Tubular - 0.444 million net ton, down 4% YoY
Total Steel Shipments – 15.994 million net ton, up 31% YoY
Average Realized Price 2021
Flat-Rolled – USD 1,172 per net ton, up 63% YoY
Mini Mill– USD 1,314
US Steel Europe– USD 966 per net ton, up 54% YoY
U.S Steel Europe – EUR 816 per net ton, up 49% YoY
Tubular– USD 1,696 per net ton, up 33% YoY