Steel Mills
October 28, 2014
US Steel Reports Best Operating Results Since 2008
Written by Sandy Williams
US Steel reports a third quarter net loss of $207 million compared to a loss of $1.791 billion during the second quarter 2014. Results include non-cash restructuring costs and $45 million in gains from sale of real estate. Adjusted net income was $325 million.
Sales rose 11 percent to $4.59 billion and shipments were up 7.5 percent to 5,107,000 tons. Flat rolled income (profits) increased to $347 million, compared to $30 million in second quarter and $82 million in 3Q 2013. US Steel Europe income totaled $29 million, Tubular steel segment income totaled $69 million and other businesses $34 million.
