United States Steel’s Revenue Breakdown (2018-2022)

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This chart shows United States Steel’s Revenue Breakdown, across Hot-rolled sheets, Coated sheets, Cold-rolled sheets, Tubular products and Semi-finished products.
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This chart shows United States Steel’s Revenue Breakdown, across Hot-rolled sheets, Coated sheets, Cold-rolled sheets, Tubular products and Semi-finished products.

United States Steel’s Revenue Breakdown

Revenue Breakdown Q3 2020 Q2 2021 Q3 2021 Contribution in Q3 2021
Hot-rolled sheets 432.00 1665.00 2115.00 35.00%
Coated sheets 1011.00 1533.00 1791.00 30.00%
Cold-rolled sheets 598.00 1118.00 1341.00 22%
Tubular products 102.00 192.00 238.00 4.0%
Semi-finished 5.00 46.00 35.00 1.0%
Other 192.00 471.00 444.00 7.0%
Total 2340.00 5025.00 5964.00 100.00%

(All values are in millions, apart from percentages)

The company’s total revenue dramatically increased from $2,340 million in Q3 2020 to $5,964 million in Q3 2021, marking a huge growth of 155% on a yearly basis. The increase in the revenue was primarily associated to the growth in the net sales of Hot-rolled sheets by 390% from the previous year quarter. Total revenue also increased by 18.5% on a quarterly basis, as compared to $5,025 million in Q2 2021.

U.S. Steel’s results in Q3 2021, compared to the same period in 2020 benefited from the Big River Steel acquisition as well as significantly improved business conditions as certain challenges presented by the COVID-19 pandemic began to subside. Hot-rolled sheets, Cold-rolled sheets, and Coated sheets results improved due to higher steel demand across most consumer and manufacturing industries, pushing both spot and contract prices higher. Tubular results boosted as a result of realized advantages from rounds being in-sourced from the electric arc furnace and from drilling activity gradually increasing during Q3 2021.

United States Steel’s Revenue can be classified into the following product categories:

Hot-rolled sheets

The hot rolls sheets category generated $2,115 million in Q3 2021. This was a huge incline of 390% on a yearly basis as compared to $432 million in Q3 2021. In addition to this, the total revenue grew by 27% on a quarterly basis as compared to $1,665 million in Q2 2021. Hot-rolled sheets constitute the maximum share in revenue, accounting for 35% of the total revenue in Q3 2021.

Coated sheets

Revenue generated from the Coated sheets category stood at $1,791 million in Q3 2021, which was a growth of 77% as compared to $1,011 million in Q3 2020, on a yearly basis. Further, it increased from $1,533 million in Q2 2021 to $1,791 million in Q3 2021. This was an incline of 17% on a quarterly basis. The Coated sheets’ product category constitutes 30% of the total revenue in Q3 2021.

Cold-rolled sheets

United States Steel’s revenue from the Cold-rolled sheets’ category increased by 125% on a year-on-year basis, from $598 million in Q3 2020 to $1,341 million in Q3 2021. It also grew by 20% as compared to $1,118 million in Q2 2021, on a quarterly basis. This category contributes 22% to the total revenue in Q3 2021.

Tubular products

The Tubular products’ category marked an increase from $102 million in Q3 2020 to $238 million in Q3 2021, indicating a growth of 134% on a yearly basis. It also increased by 24% as compared to $192 million in Q2 2021, on a quarterly basis. Tubular products accounts for 4% of the company’s total revenue in Q3 2021.

Semi-finished products

Revenue generated from the Semi-finished products stood at $35 million in Q3 2021, which was a huge incline of 600% on a yearly basis when compared to $5 million in Q3 2020. Besides, it fell by 24% on a quarterly basis, as compared to $46 million in Q2 2021. The contribution of Semi-finished products in the total revenue for Q3 2021 stood at 1%.

Other products

Revenue from the Other products increased from $192 million in Q3 2020 to $444 million in Q3 2021, marking a growth of 131% on a yearly basis. However, it decreased from $471 million in Q2 2021 to $444 million in Q3 2021. This was a decline of 6% on a quarterly basis. The Other products constitute 7% of the total revenue in Q3 2021.

About United States Steel Corporation

Founded on March 2, 1901 by J.P. Morgan, United States Steel Corporation (U. S. Steel) is headquartered in Pittsburgh, Pennsylvania. The company is an integrated steel manufacturer that operates in the U.S. and Central Europe. It is transforming itself into a customer-centric, world-competitive, Best of Both steelmaker. U. S. Steel will deliver unmatched process and product innovation for their customers, by combining the best of the integrated and mini mill steelmaking models.

By 2018, the company was the world’s 38th-largest producer and the second-largest in the U.S. On January 15, 2021, the company acquired Big River Steel. The successful completion of the acquisition marked a major milestone in the Best of Both strategy. The common stock of the company is listed on the NYSE under the ticker “X”.

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