United States Steel Corp. Posts Q2 Loss On Charges - Quick Facts

(RTTNews) - United States Steel Corporation (X) reported a second-quarter net loss of $18 million, or $0.12 per share, compared to a loss of $78 million, or $0.54 per share, prior year. Adjusted net income for the second quarter of 2014 was $25 million, or $0.17 per share.

On average, 17 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.29 for the quarter. Analysts' estimates typically exclude special items.

Net sales decreased to $4.40 billion from $4.43 billion, previous year. Analysts expected revenue of $4.21 billion for the quarter. U. S. Steel President and CEO Mario Longhi said, "The Carnegie Way journey continues to drive improvements as we reported operating income for each of our reportable segments and Other Businesses despite significant operating inefficiencies and logistical issues in our Flat-rolled segment."

Commenting on U. S. Steel's outlook for the third quarter, Longhi said, "We expect operating income for our reportable segments and Other Businesses to increase significantly over the second quarter, as we return to normal operating levels. We continue to earn the right to grow as the Carnegie Way transformation allows us to better meet our customers' needs and improves our earnings power."