United States Steel reported unaudited consolidated earnings results for the fourth quarter and full year ended Dec. 31, 2014. For the quarter, the company reported net sales of $4,072,000 compared to $4,269,000 for the last year. Operating income was $397,000, compared to loss of $229,000 for the last year. Income before income taxes and non controlling interests was $347,000, compared to loss of $304,000 for the last year. Net income attributable to the company was $275,000, compared to $297,000 for the last year. Net income per diluted share was $1.83, compared to $1.93 for the last year. Adjusted EBITDA was $534,000, compared to $260,000 for the last year. Adjusted net income was $274,000 or $1.82 per diluted share, compared to $38,000 or $0.27 per diluted share for the last year. The company reported another quarter of strong operating results, which continue to reflect the significant and sustainable improvement in earnings power from the Carnegie Way transformation efforts.

For the year, the company reported net sales of $17,507,000 compared to $17,424,000 for the last year. Operating income was $413,000, compared to loss of $1,900,000 for the last year. Income before income taxes and non controlling interests was $170,000, compared to loss of $2,232,000 for the last year. Net income attributable to the company was $102,000, compared to loss of $1,645,000 for the last year. Net income per diluted share was $0.69, compared to loss per share of $11.37 for the last year. Net cash provided by operating activities was $1,492,000, compared to $414,000 for the last year. Capital expenditure was $419,000, compared to $477,000 for the last year. Adjusted EBITDA was $1,698,000, compared to $863,000 for the last year. Adjusted net income was $676,000 or $4.47 per diluted share, compared to loss of $110,000 or $0.76 per diluted share for the last year. The company reduced net debt from $3.3 billion at December 31, 2013, to $2.1 billion at December 31, 2014, the lowest level since 2006, primarily due to improved cash position during 2014. Full-year Tubular segment results for 2014 increased as compared to 2013 primarily due to the benefits provided by Carnegie Way efforts.

For 2015, the company expects adjusted income from operations to be between $550 million and $850 million, or adjusted EBITDA of between $1.1 billion and $1.4 billion.