US Steel Earns $22M Profit on Higher Prices

NEW YORK (AP) - U.S. Steel (X) says it earned a profit of $22 million in the third-quarter as most of its steel sold for higher prices. The company lost $51 million in the year-ago quarter.

The nation's largest steelmaker says income amounted to 15 cents per share for the three-month period ended Sept. 30. That compares with a loss 35 cents per share for the same period in 2010. Revenue increased 13 percent to $5.08 billion.

Excluding net foreign currency losses and other charges, U.S. Steel Corp. says it earned $118 million, or 72 cents per share.

Analysts, who typically exclude special charges, had expected earnings of 55 cents per share on revenue of $5.08 billion, according to FactSet.

Increase your money and finance knowledge from home

How Financial Planners go Grocery Shopping

Learn to shop smart and save.

View Course »

Getting out of debt

Everyone hates debt. Get out of it.

View Course »

Add a Comment

*0 / 3000 Character Maximum