United States Steel Corp. on Tuesday reported fourth-quarter results that topped Wall Street expectations.
The Pittsburgh steelmaker's shares gained 8.6 percent in aftermarket trading.
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U.S. Steel said it had net income of $275 million, or $1.83 per share, down from $297 million, or $1.93 per share, in the same period in 2013.
Earnings excluding one-time items were $1.82 per share, topping the average analyst estimate of 89 cents per share, according to Zacks Investment Research.
Revenue dropped 4.6 percent, to $4.07 billion. Analysts expected a deeper decline, to $3.96 billion, according to Zacks.
The company said it has improved its balance sheet and is confident that it can handle challenges in 2015. U.S. Steel has been restructuring its business, including job cuts.
"We face significant challenges from dramatically lower oil prices, lower steel prices, and the impact of the stronger U.S. dollar and global overcapacity on imports and our operations," said CEO Mario Longhi.
It expects adjusted income from operations of $550 million to $850 million this year.
For 2014, the company reported net income of $102 million, or 69 cents per share, swinging to a profit in the period. Revenue was $17.51 billion.
U.S. Steel shares have dropped 16 percent over the past 12 months, closing at $21.27 Tuesday.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on X at http://www.zacks.com/ap/X
Keywords: United States Steel, Earnings Report