U.S. Steel Posted Robust Earnings

SEATTLE (Scrap Monster): Pittsburgh-based steelmaker United States Steel Corporation (U.S. Steel) announced financial results for Q4 and full-year 2021.

The company reported Q4 2021 net earnings of $1.069 billion, or $3.75 per diluted share. This is in comparison with Q4 2020 net earnings of $49 million, or $0.22 per diluted share. The adjusted net earnings during Q4 last year was $1.038 billion, or $3.64 per diluted share, compared with adjusted net loss of $60 million, or $0.27 per diluted share during the prior year quarter.

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For the full year 2021, the company reported net earnings of $4.174 billion, or $14.88 per diluted share and adjusted net earnings of $3.780 billion, or $13.48 per diluted share. U.S. Steel had recorded full-year 2020 net loss of $1.165 billion, or $5.92 per diluted share and adjusted net loss of $920 million, or $4.67 per diluted share.

Commenting on the results, David B. Burritt, U. S. Steel President and CEO said that the company delivered record earnings and free cash flow and record safety, environmental, quality, and reliability performance in 2021. It looks forward to yet another year of progress for investors, customers, employees, and the communities, he added.

The company will conduct a conference call on the Q4 and full-year 2021 earnings on Friday, January 28, 2022, at 8:30 a.m. Eastern Standard.