US Steel's 4Q loss widens on charges, shipments

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Associated Press

Posted on January 28, 2014 at 12:00 AM

Updated Tuesday, Jan 28 at 3:02 AM

PITTSBURGH (AP) — US Steel is reporting a wider fourth-quarter loss on lower shipments and charges for restructuring costs and closing a plant.

United States Steel Corp. said Monday that it lost $122 million, or 84 cents per share. That compares with a loss of $50 million, or 35 cents per share, a year ago.

Revenue is down 5 percent, to $4.27 billion.

The company says that excluding items such as restructuring and a tax benefit it would have earned adjusted profit of 27 cents per share.

Analysts, who usually exclude one-time items, were expecting a loss of 25 cents per share on revenue of $4.36 billion.

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