Shares of X are down more than 8% to new all-time lows. The stock was $19 during the lowest point of hell in 2009. They lost $6.83 for the quarter, like fucking morons.
CEO Mario Longhi said in a statement the company hopes to trim costs this year, saying it is “facing significant headwinds and uncertainty in many of the markets we serve.” The company forecast the year to be break-even on an adjusted basis.
For 2015, the company reported a loss of $1.51 billion, or $10.32 per share, swinging to a loss in the period. Revenue fell to $11.57 billion, down 34 percent from $17.51 billion the previous year.
Via Briefing.com, here are some notes from their conference call, which is ongoing.
In light of the ‘industrial recession’ that U.S. steel cites as the reason for reporting such monstrous numbers, I wonder how many times Janet Yellen will punch them in the face with interest rate hikes? Maybe 16?
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