Name: United States Steel Corp. (NYSE:X) | Analysis of Revenues
Creator: Stock Analysis on Net

Analysis of Revenues

Revenues as Reported

Revenues as Reported

United States Steel Corp., income statement, revenues

US$ in millions

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Semi-finished	296)	138)	96)	316)	330)
Hot-rolled sheets	5,827)	6,485)	2,066)	3,501)	4,129)
Cold-rolled sheets	4,639)	4,759)	2,266)	2,795)	3,093)
Coated sheets	6,828)	6,516)	3,894)	3,999)	4,254)
Tubular products	1,662)	839)	661)	1,206)	1,243)
All other	1,813)	1,538)	758)	1,120)	1,129)
Net sales by product, excluding intersegment sales	21,065)	20,275)	9,741)	12,937)	14,178)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

The annual revenue data reveals several important trends in the financial performance across different product categories over the five-year period.

Semi-finished products: There was a notable decline from 330 million USD in 2018 to 96 million USD in 2020, followed by a partial recovery to 296 million USD by 2022. This indicates volatility with a significant drop during 2019–2020, possibly reflecting market or operational challenges, before rebounding towards prior levels.
Hot-rolled sheets: This segment experienced a decreasing trend from 4129 million USD in 2018 to 2066 million USD in 2020, marking a substantial reduction. However, a strong recovery is observed thereafter, with revenues peaking at 6485 million USD in 2021 and slightly declining to 5827 million USD in 2022, though remaining well above the initial years.
Cold-rolled sheets: Revenues declined steadily from 3093 million USD in 2018 to 2266 million USD in 2020, followed by a sharp increase to 4759 million USD in 2021 and a minor decrease to 4639 million USD in 2022. The later rebound suggests improved demand or pricing conditions post-2020.
Coated sheets: A slight downward movement is observable between 2018 (4254 million USD) and 2020 (3894 million USD). This was succeeded by a strong upward surge reaching 6516 million USD in 2021 and continuing to 6828 million USD in 2022, indicating robust growth and possibly favorable market dynamics in recent years.
Tubular products: This category shows a consistent decline until 2020 (from 1243 million USD in 2018 to 661 million USD), with a moderate increase in 2021 (839 million USD) and a sharp rise in 2022 (1662 million USD), doubling compared to 2018. This signals a positive turnaround after 2020.
All other products: Revenues in this segment remained relatively flat from 2018 (1129 million USD) to 2019 (1120 million USD) and then dropped to 758 million USD in 2020. Subsequently, a significant increase is noted in 2021 (1538 million USD) and 2022 (1813 million USD), more than doubling the 2020 figure and exceeding the initial years.
Total net sales by product: The aggregate sales mirror the trends in individual categories, showing a decline from 14178 million USD in 2018 to 9741 million USD in 2020. This was followed by a remarkable recovery to 20275 million USD in 2021 and a slight increase to 21065 million USD in 2022. The overall pattern indicates a period of contraction culminating in 2020, likely linked to external or industry-wide factors, succeeded by strong growth and recovery in subsequent years.

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