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U.S. Steel reports 4th straight quarterly loss

Post Time:Jan 27,2010Classify:Industry NewsView:112

United States Steel Corp. on Tuesday [Jan. 26] said it lost money for the fourth consecutive quarter as improving demand in the auto industry was offset by the sluggish construction market.

The Pittsburgh manufacturing giant also said it was cautious about its outlook for the first quarter, noting that improving business conditions won't be reflected in operating results for another few months.

Shares of U.S. Steel fell $4.73, or 8.4 percent, to $51.50.

U.S. Steel's fourth-quarter loss was $267 million, or $1.86 per share, compared with earnings of $290 million, or $2.50 per share, during the same period last year, according to a Jan. 26 article in The New York Times.

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Source: http://www.glassmagazine.com/news-item/commercial/us-steel-reports-4th-straight-quarterly-lossAuthor:

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