U.S. Steel (X) Q4 Earnings Crush Estimates, Sales Miss

U.S. Steel (X – Free Report) recorded net loss of $105 million or 61 cents per share in the fourth quarter of 2016, narrower than a net loss of $1.1 billion or $7.74 per share a year ago. The results in the reported quarter include unfavorable adjustments of $152 million.

Barring one-time items, earnings were 27 cents per share for the reported quarter that outstripped the Zacks Consensus Estimate of a penny per share.

Revenues rose roughly 3% year over year to $2,650 million in the fourth quarter, but trailed the Zacks Consensus Estimate of $2,666 million.

For full-year 2016, the company registered a net loss of $440 million or $2.81 per share, lower than a net loss of $1.6 billion or $11.24 per share a year ago. The results improved as the company gained from its efforts to improve its cost structure through its ‘Carnegie Way’ initiatives amid a challenging operating environment.

Sales for the full year slipped roughly 11% year over year to $10,261 million.

United States Steel Corporation Price, Consensus and EPS Surprise