Steel Mills
November 4, 2018
U.S. Steel Meets Expectations in Q3
Written by Sandy Williams
U.S. Steel earnings were in line with expectations for the third quarter. U.S. Steel reported net earnings of $291 million compared to $214 million in the second quarter and earnings of $147 million in Q3 2017. Net sales rose 14.8 percent year-over-year to $3.7 billion. Adjusted EBITDA of $526 million improved by $169 million compared to the third quarter of 2017.
Total steel shipments in Q3 2018 were 5.5 percent lower at 20.5 million tons as compared with 21.8 million tons for Q2 2018 primarily due to normal seasonal patterns, as well as operational disruptions in Europe, required inventory replenishment in ACIS, and temporary market weakness in the U.S.
