“PITTSBURGH (AP) — United States Steel Corp. saw its fourth-quarter loss shrink to $50 million as the tough economy continues to produce volatile results in the steel industry.
The Pittsburgh-based steelmaker says it lost 35 cents per share for the most recent quarter. A year ago it lost $211 million, or $1.46 per share.
The loss would have been 41 cents per share if not for a favorable settlement of a contract dispute. Still, that was better than the loss of 70 cents per share expected by analysts surveyed by FactSet.
Revenue fell 6.9 percent to $4.49 billion. Analysts had been expecting revenue of $4.33 billion.
The company says it is still facing uncertain economic and steel market conditions. U.S. Steel expects shipments to rise in the first quarter compared with fourth quarter.”
If you enjoy the content at iBankCoin, please follow us on Twitter
