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 Reorganizes Operating Units

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

U.S. Steel Corp. is reorganizing its three operating units to focus on industries the company serves, the latest phase in the Downtown-based company’s Carnegie Way program to cut costs, boost revenue and return to profitability.

As part of the new management structure, U.S. Steel is realigning its North American Flat-Rolled division to focus on five markets: automotive, consumer, industrial, service centers and mining.

“These commercial entities will put our company in a stronger position to be best-in-class in product innovation, customer service and solutions, as well as steel manufacturing,” CEO Mario Longhi said.

The company is renaming its Tubular Products unit Energy Solutions, reflecting its focus on providing steel pipe to the booming oil and gas industry. And its operations in Europe were renamed U.S. Steel European Solutions.

Read more: http://triblive.com/business/headlines/7174309-74/solutions-steel-company#ixzz3JSeCmrZ7
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