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

U.S. Steel Reports 3Q Loss Of $207M On Special Charges

U.S. Steel Tower in downtown Pittsburgh, Pennsylvania. (Photo credit: Wikipedia)

Losses from U.S. Steel Corp.’s restructuring continued despite revenue and operating results that beat analyst’s expectations.

The loss was an improvement from a year ago and was helped by the company’s flat-rolled steel operation and other segments, which did their best since 2008. Operating profit from flat-rolled, tubular, U.S. Steel Europe and other units totaled $479 million, or $94 per ton of steel produced, the company said. That compared to $113 million, or $24 per ton a year ago.

“Steel market conditions in the United States have remained stable, and our operations have performed well, particularly our flat-rolled segment, where we returned to more normal operating levels and income from operations increased by over $300 million from the second quarter,” CEO Mario Longhi said. “Our results reflect the significant improvement in our earnings power from our Carnegie Way transformation efforts.”

Read more: http://triblive.com/business/headlines/7045925-74/million-steel-loss#ixzz3HUbOs7JH
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With $30.7 Million In State Grants, U.S. Steel Promises To Stay In Pennsylvania

English: The U.S. Steel Tower, located in Pittsburgh, Pennsylvania, USA, with the new corporate logo of the University of Pittsburgh Medical Center. (Photo credit: Wikipedia)

United States Steel Corp. is committed to keeping its headquarters in Pennsylvania, Gov. Tom Corbett said Friday as he announced the state was providing $30.7 million in grants for the Fortune 500 company to help rehabilitate some of its plants.

The company has not said publicly that it was looking to relocate from Pennsylvania, but there has been speculation about whether it would move to another site in the region when its lease at U.S. Steel Tower, Downtown, expires in 2017.

Corbett and administration officials acknowledged that they acted to secure a commitment from the company to stay in Pennsylvania based on fears — and not any knowledge — that it would exit the state.

“I think they were considering it,” said Corbett. The governor cited Chicago and Indiana, where U.S. Steel has its largest mill, as places where he thought it might relocate.

Read more: http://triblive.com/news/adminpage/6905730-74/pennsylvania-steel-company#ixzz3FBvNnlfJ
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