Steel Mills
October 30, 2013
US Steel Reports $1.79 Billion Loss from Impairment Charge
Written by Sandy Williams
US Steel reported a net loss of $1.79 billion for the third quarter due primarily to a non-cash goodwill impairment charge of $1.8 billion. Net loss for the quarter excluding the impairment charge totaled $20 million, compared to a net loss of$78 million the previous quarter, and profit of $44 million in Q3 2012.
The company shipped 4.7 million tons of steel for net sales of $4.1 billion.
