For the quarter, which ended 30 June, the integrated steelmaker posted net earnings of US$261 million, or US$1.48 per diluted share, on sales of US$3.1 billion. 

In the same quarter last year, the company recorded a loss of US$46 million on sales of US$2.6 billion. 

The company said average prices for its flat-rolled and tubular products, as well as for steel made at its plant in Slovakia, all were up between 16% and 28% on a quarter-over-quarter basis.  

"We are seeing a more bullish sentiment in the markets served by our flat-rolled and European segments right now, as prices have been increasing and overall demand has been stable,” president and chief executive David Burritt said in a statement. 

“Our tubular segment continues to benefit from operational and cost improvements we have made, as well as from stronger market conditions. Our investment in our facilities and our people continues to increase. These strategic investments, combined with our focus on achieving operational excellence, will deliver continuous improvements in safety, quality, delivery and costs that will position us to succeed through business cycles, and support future growth initiatives."  

On another front, U. S. Steel has named Kevin P. Bradley as executive vice president and chief financial officer.

Bradley has more than 20 years of financial services experience and previously served as senior vice president and chief financial officer at Terex Corp., a manufacturer of lifting and materials processing equipment. 

"Kevin possesses the vast financial knowledge and strong leadership skills necessary to strengthen our balance sheet, help improve our operations and realize improvements in safety, quality, delivery and cost," Burritt said. 

“I admire his track record of transformation and history of delivering top-notch results.”