Pittsburgh Steelmaker 2022 Results is the Second-Best in History

SEATTLE (Scrap Monster): Pittsburgh-based United States Steel Corporation (U.S. Steel) reported solid Q4 2022 results. The yearly results were the second best in the company’s history. Also, the company delivered on its strategic commitments.

The company press release said that it posted fourth quarter 2022 net earnings of $174 million, or $0.68 per diluted share and adjusted net earnings of $226 million, or $0.87 per diluted share. This compares with net earnings of $1.07 billion, or $3.75 per diluted share and adjusted net earnings of $1.43 billion, or $5.01 per diluted share in the corresponding quarter a year before.

U.S. Steel reported full-year 2022 net earnings of $2.52 billion, or $9.16 per diluted share and adjusted net earnings of $2.74 billion, or $9.95 per diluted share.

David B. Burritt, U. S. Steel President and Chief Executive Officer noted that 2022 was another exceptional year for the company. All of the company’s operating segments contributed meaningfully to 2022’s success. Also, the company delivered record safety performance during the year, he added.