U.S. Steel: 4Q Earnings Snapshot
PITTSBURGH (AP) _ United States Steel Corp. (X) on Wednesday reported fourth-quarter earnings of $592 million.
The Pittsburgh-based company said it had profit of $3.33 per share. Earnings, adjusted for non-recurring gains, came to $1.82 per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.88 per share.
The steel maker posted revenue of $3.69 billion in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $3.75 billion.
For the year, the company reported profit of $1.12 billion, or $6.25 per share. Revenue was reported as $14.18 billion.
U.S. Steel shares have risen 22 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen almost 7 percent. In the final minutes of trading on Wednesday, shares hit $22.23, a fall of 42 percent in the last 12 months.