The BusinessWeek 50 Ranking
37
United States Steel
A century after it came to epitomize Big Steel, Pittsburgh's U.S. Steel is back. Thanks largely to China's enormous appetite for steel, which boosted prices around the globe, U.S. Steel swung from a loss in 2003 to a $1.1 billion profit last year. U.S. Steel didn't just reap the benefits of the economic cycle — it also helped itself by picking up bankrupt National Steel and crafting a cost-cutting labor deal with steelworkers. The new contract not only eliminated jobs but erased retiree obligations at its acquired mills. U.S. Steel also boosted its low-cost operations in Central Europe. After doubling in 2004, prices for U.S. Steel's high-end products have now leveled off. But orders are keeping its mills running flat out. And with $1 billion in cash, U.S. Steel is shopping for more overseas assets, notably in China. U.S. Steel's stronger numbers may not be enough to keep it independent, however. Some analysts say the company could get acquired by even larger foreign steelmakers eager for a U.S. base.
Company Info
| 2004 Rank | 259 |
| STOCK INFO | X |
| Market Value | $7.1 BILLION |
| Total Return | (1-yr.) 70.6%
(3-yr.) 262.0% |
| 2004 sales | $14 BILLION |
| Sales Growth | (1-yr.) 50%
(3-yr.) 30.2% |
| Net income | $1.1 BILLION |
| Net Income Growth | (1-yr.) NM
(3-yr.) NC |
| Net Margin* | 7.7% |
| Return on Equity* | 26.7% |
| Industry | MATERIALS |
| CORPORATE WEB SITE | |
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*Trailing 12 months
Company data as of 2/28/05 provided by Standard & Poor's Compustat
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Company Snapshot
United States Steel Corporation manufactures integrated steel products. It operates through four segments: Flat-rolled Products, U. S. Steel Europe, Tubular Products, and Real Estate. Flat-rolled Products segment produces sheet, tin mill products, and strip mill plate, as well as domestic coke. It primarily serves customers in the service centers, conversion, transportation, containers, construction, and appliance markets located in the United States. U. S. Steel Europe segment manufactures and sells sheet, strip mill plate, tin mill, tubular, precision tube, and specialty steel products. It primarily serves customers in the central and western European construction, conversion, service centers, appliance, containers, transportation, and oil, gas, and petrochemicals markets. Tubular Products segment produces and sells electric resistance weld tubular products and primarily serves customers in the oil, gas, and petrochemicals markets. Real Estate segment manages and develops residential, commercial, and industrial real estate properties. In addition, the company involves in the production and sale of iron ore pellets; provision of transportation services, and engineering and consulting services; and mining, processing, and sale of coal. United States Steel Corporation was founded in 1901 by Andrew Carnegie, J.P. Morgan, Charles Schwab, and Elbert H. Gary. The company is headquartered in Pittsburgh, Pennsylvania.
No. of Employees
48,000
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