United States Steel Corp. (NYSE:X)

Net sales by product exhibited a significant contraction between 2018 and 2020, reaching a period low of 9,741 million US dollars. This decline was followed by an aggressive recovery in 2021 and 2022, with total net sales increasing by approximately 116% from the 2020 trough to the 2022 peak of 21,065 million US dollars.

Coated Sheets Performance

This segment represents the most consistent revenue stream and the largest contributor to total sales by the end of the period. From 4,254 million US dollars in 2018, revenues grew to 6,828 million US dollars by 2022, demonstrating greater resilience during the 2020 downturn compared to other product lines.

Hot-Rolled and Cold-Rolled Sheets

Both segments experienced sharp declines in 2020, with hot-rolled sheets dropping to 2,066 million US dollars and cold-rolled sheets to 2,266 million US dollars. A rapid expansion occurred in 2021, with hot-rolled sheets peaking at 6,485 million US dollars, although both categories saw a slight reduction in revenue in 2022.

Tubular Products and Diversified Revenue

Tubular products showed a marked recovery in 2022, reaching 1,662 million US dollars, which surpassed 2018 levels. Similarly, the "All other" category demonstrated a steady upward trajectory following the 2020 low, rising from 758 million US dollars to 1,813 million US dollars by 2022.

Semi-Finished Products

Semi-finished revenues remained the smallest component of the product mix throughout the period. This segment experienced a steep decline in 2020 to 96 million US dollars before recovering to 296 million US dollars by the end of 2022.