US Steel reported first quarter 2023 net earnings of $199 million on net sales of $4.47 billion, compared to first quarter 2022 net earnings of $882 million on net sales of $5.23 billion.
Total steel shipments in Q1 totaled 3,951,000 nt, compared to 3,692,000 nt in Q1 2022. Raw steel production in the quarter totaled 2,393,000 nt for flat rolled (compared to 2,205,000 nt in Q1 2022; 171,000 nt for tubular (against 156,000 nt in Q1 2022), and 759,000 nt for mini mill operations (compared to 601,000 nt in Q1 2022).
Steel capability utilization in Q1 2023 was 74 percent for flat rolled (compared to 68 percent in Q1 2022); 77 percent for tubular (against 70 percent in Q1 2022), and 93 percent for mini mill operations (compared to 74 percent in Q1 2022).