U.S Steel Claims Asset Revitalization's Improving Results

U.S. Steel Corp. says its asset revitalization program is working as evidenced by net sales of $3.14 billion and net earnings of $18 million for the first quarter of 2018. Earnings before interest and income tax for the flat-rolled segment were $33 million in Q1 compared to a loss of $88 million in first-quarter 2017.

“We are beginning the second year of our asset revitalization program, and we are already seeing benefits from the investments in our assets,” said CEO David Burritt. “It is prudent for us to anticipate the possibility of continued operational volatility for those assets yet to be revitalized.”