trending Market Intelligence /marketintelligence/en/news-insights/trending/yCdHvY-ieMLDqbsnVuauxg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

U.S. Steel's Q2'19 profit plummets 68.2% YOY

Mining Exploration Insights December

Mining Exploration Insights: Dip in gold drilling weighs on results

Mining Exploration Insights: Is the exploration sector back on recovery?

State of the Market: Mining Q2-2019

U.S. Steel's Q2'19 profit plummets 68.2% YOY

U.S. Steel Corp. said Aug. 1 that net profit plummeted 68.2% year over year in the second quarter to US$68.0 million, or 39 cents per share, from US$214.0 million, or US$1.20 per share.

CEO David Burritt said operations during the period were affected by challenging market conditions. Severe weather in the quarter also posed logistics headwinds for the steelmaker.

Adjusted net earnings, excluding the impact of a December 2018 fire at the Clairton coke making facility in Pennsylvania, totaled US$78 million, or 45 cents per diluted share.

The Pittsburgh-headquartered steelmaker declared a dividend of 5 cents per share, the same as the dividend declared a year earlier.

Revenues during the quarter amounted to US$3.55 billion, a 1.8% decrease from US$3.61 billion.

Adjusted EBITDA stood at US$278.0 million during the quarter, falling 38.4% from US$451.0 million. CapEx for the quarter was up 88.4% at US$326.0 million.

Steel shipments during the quarter totaled 4.0 million tonnes, up 1.6% from 3.9 Mt. This included flat rolled steel shipments of 2.6 Mt, an increase from 2.58 Mt, with shipments from its European segment declining to 1.00 Mt from 1.2 Mt.

Meanwhile, U.S. Steel completed upgrades to its operations, including the Mon Valley steelworks in Pennsylvania, on time and within budget.