Steel Mills
August 2, 2018
U.S. Steel CEO: President Won’t Blink on Tariffs
Written by Sandy Williams
“We’ve earned the right to grow,” said U.S. Steel Corp. CEO David Burritt during the company’s second-quarter 2018 earnings call. U.S. Steel showed its strength in the second quarter with net sales of $3.6 billion and net earnings of $214 million. Adjusted EBITDA rose from $376 million to $451 million year-over-year.
U.S. Steel said its $2 billion asset revitalization program is progressing well. The Granite City B furnace was restarted ahead of schedule in the second quarter and produced 30,000 tons in June. Production for July is expected to ramp up to 100,000 tons. The A furnace is expected to be operational in October. A 52-day blast furnace outage is scheduled for August at Great Lakes Works.
