Steel Mills
February 1, 2020
U.S. Steel Bullish on 2020 Despite Loss in 2019
Written by Sandy Williams
U.S. Steel reported a net loss of $680 million for the fourth quarter of 2019 and a loss of $642 million for the year, but counts the quarter a success by exceeding its previously lowered Q4 expectations. The steelmaker sees last year as one of notable strategic progress.
Sales for the year totaled $12.9 billion, including net sales for the fourth quarter of $2.8 billion. Adjusted net earnings for the year were $15 million. All three operating segments reported net losses in the fourth quarter and only the flat rolled group posted positive earnings for the full year.
