When is a 27% increase in sales, and a doubling of profits, bad news? It certainly sounds like an exceptional circumstance, but that's where Alcoa finds itself today, having missed earnings estimates and facing a discouraging free cash flow.
United States Steel reported Tuesday that its net loss narrowed significantly in the second quarter to $25 million as net sales more than doubled. The Pittsburgh steel product maker reported net losses of $157 million in the first quarter of 2010, and $392 million in the second quarter of 2009.
Big Steel is finally turning around, and U.S. Steel is one of the leaders. The giant global producer is well positioned to be a key player in promising U.S. and European markets, and is deftly situated in terms of raw materials and financial resources.