US Steel and AK Steel announced Q3 2009 financial results this morning. US Steel’s press release can be found here and AK’s release can be found here.
US Steel’s shipments rose sharply, from 2.9 million tons in Q2 to 4.2 millin tons in Q3. However, the company’s high fixed costs resulted in a negative gross margin and an EBITDA loss of $59 per ton for Q3.
AK performed a little better. Shipments rose from 740 thousand tons in Q2 to 1.05 million tons in Q3, and EBITDA per ton was positive $63 in Q3, up from a loss of $24 in Q2.
Check out our Nerds of Steel earnings spreadsheet to see how various steel companies’ operating income and EBITDA per ton compare.