U.S. Steel (X) Tops Q4 EPS by 41c

January 28, 2021 5:11 PM EST

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U.S. Steel (NYSE: X) reported Q4 EPS of ($0.27), $0.41 better than the analyst estimate of ($0.68). Revenue for the quarter came in at $2.56 billion versus the consensus estimate of $2.58 billion.

  • Fourth quarter 2020 net earnings of $49 million, or $0.22 per diluted share; full-year 2020 net loss of $1,165 million, or $5.92 per diluted share.
  • Fourth quarter 2020 adjusted net loss of $60 million, or $0.27 per diluted share; full-year 2020 adjusted net loss of $920 million, or $4.67 per diluted share.
  • Fourth quarter 2020 adjusted EBITDA of $87 million; full-year 2020 adjusted EBITDA of $(162) million.
  • Liquidity of $3.153 billion, including cash of $1.985 billion.

“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.”

Commenting on its Best of BothSM strategy execution in 2020, Burritt continued, “The team at U. S. Steel created unprecedented value in the trough by continuing our transformation into a world-competitive, Best of Both steel producer. By keeping the business resilient, we were able to execute our number one strategic priority to acquire the remaining stake in Big River Steel. With Big River Steel now fully part of the U. S. Steel portfolio, we are well positioned to drive significant earnings growth while delivering our customers an unmatched value proposition. Our future starts now and we cannot wait to show the world the value that the only Best of Both steel company can create.”

For earnings history and earnings-related data on U.S. Steel (X) click here.

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