PITTSBURGH, January 28, 2021 – United States Steel Corporation (NYSE: X) reported fourth quarter 2020 net earnings of $49 million. This compares to fourth quarter 2019 net loss of $668 million. Full-year 2020 net loss was $1,165 million. This compares to full-year 2019 net loss of $630 million.
Segment U. S. Steel Europe reported fourth quarter 2020 earnings before interest and income of $36 million, and full-year 2020 earnings of $9 million. This compares to fourth quarter 2019 loss before interest and income of $30 million, and a full-year 2019 loss of $57 million. Segment U. S. Steel Europe reported fourth quarter 2020 capital expenditures of $15 million, and full-year capital expenditures of $79 million. Raw steel capability utilization was 77% in the fourth quarter and 67% in the full year 2020.
“We finished 2020 strong and are optimistic about the opportunity to deliver incremental value for our stakeholders in 2021,” said U. S. Steel President and CEO David B. Burritt. “Our fourth quarter adjusted EBITDA of $87 million is only just beginning to show the potential of our earnings growth as we begin to realize the benefits of higher prices, adaptive operations, and our continued focus on cost management. Our performance continues to strengthen as we enter 2021 and we are bullish that the market will continue to be fueled by robust demand, low inventories, and supportive raw material prices.”
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