Methods of producing high strength continuously cast hot rolled steel sheet products are disclosed. The methods include continuously casting a steel slab and then hot rolling with finish rolling on a hot strip mill, quenching on the hot strip mill to form a predominantly matrensitic microstructure, and performing a thermal cycling step including soaking at an intercritical temperature followed by holding at a lower temperature. The resultant hot rolled steel sheet products have a microstructure comprising ferrite and retained austenite. Steels processed in accordance with the present invention exhibit favorable combined ultimate tensile strength and total elongation (UTS·TE) properties, and may fall into the category of Generation 3 advanced high strength steels, desirable in various industries including automobile manufacturers.