U.S. Steel Posts Strong Fourth Quarter

U.S. Steel today reported a fourth quarter profit of $275 million, capping its first profitable year since 2008.

The earnings, which amounted to $1.83 per share, topped Wall Street estimates. Sales fell 5 percent to $4.07 billion but also topped estimates.

The news sent U.S. Steel shares higher in after-hours trading.

For all of 2014, the Pittsburgh steel producer reported net income of $102 million, or 69 cents per share, vs. a 2013 loss of $1.65 billion, or $11.37 per share. Sales rose less than 1 percent to $17.51 billion.

Read more: http://www.post-gazette.com/local/city/2015/01/27/U-S-Steel-posts-strong-fourth-quarter/stories/201501270204