Steel Mills
August 3, 2019
U.S. Steel Shipments Rise in Q2 Despite Challenges
Written by Sandy Williams
U.S. Steel reported sales of $3.5 billion in the second quarter, down from $3.6 billion a year ago due to lower steel prices. Net earnings totaled $68 million, down from the $214 million in the second quarter of 2018.
The company’s flat rolled segment posted earnings of $134 million despite significant weather-related logistics problems during the quarter. Average selling price was $779 per ton for the segment, down from $798 per ton in Q1 2019 and $819 per ton the previous year. Flat rolled shipments defied guidance expectations and improved to 2.8 million tons, up from 2.6 million tons in the second quarter of 2018.
