U.S. Steel: 2Q Earnings Snapshot
Aug. 01, 2018
PITTSBURGH (AP) _ United States Steel Corp. (X) on Wednesday reported second-quarter earnings of $214 million.
The Pittsburgh-based company said it had profit of $1.20 per share. Earnings, adjusted to extinguish debt and for non-recurring costs, came to $1.46 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.
The steel maker posted revenue of $3.61 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $3.39 billion.
U.S. Steel shares have risen almost 2 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 5 percent. In the final minutes of trading on Wednesday, shares hit $35.80, a rise of 58 percent in the last 12 months.