US Steel posts smaller second-quarter loss, tops forecast
United States Steel Corp. (X) on Tuesday reported a smaller loss in its second quarter, and topped analysts' expectations.
The Pittsburgh-based company reported a loss of $18 million, or 12 cents per share, compared with a loss of $78 million, or 54 cents per share, in the same quarter a year ago.
Earnings, adjusted for non-recurring costs, were 17 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for a loss of 33 cents per share.
The company reported revenue of $4.4 billion compared with $4.43 billion in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $4.12 billion, according to Zacks.
United States Steel shares have decreased $1.83, or 6.2 percent, to $27.67 since the beginning of the year, while the Standard & Poor's 500 index has increased 6.6 percent. However, the stock has risen $9.96, or 56 percent, in the last 12 months.
This story was generated automatically by Automated Insights (http://automatedinsights.com/ap ) using data from Zacks Investment Research. Full X report: http://www.zacks.com/ap/X
Keywords:U.S. Steel,Earnings Report