News

U.S. Steel loses $180 million in the first quarter

U.S. Steel's stock price has been riding high since the presidential election on the expectation of more tariffs, but the Pittsburgh-based steelmaker is still losing money. The steelmaker reported a loss of $180 million, or $1.03 per diluted share, in the first quarter. U.S. Steel Chief Executive Officer Mario Longhi blamed operational programs at flat-rolled facilities. The loss over the last three months also included a $35 million write-down that followed the shutdown of tubular facilities. U.S. Steel's quarterly loss widened from $103 million during the fourth quarter but improved significantly from the $340 million the company lost in the first quarter of 2016. "While our segment result

Featured Posts
Recent Posts
Archive
Search By Tags
Follow Us
  • Facebook Basic Square
  • Twitter Basic Square
  • Google+ Basic Square