United States Steel Corporation (NYSE:X) has released its earnings report for the third quarter of 2016.
Here are a few highlights from United States Steel Corporation’s earnings report for the third quarter of the year.
- The company reported revenue of $2.69 billion for the third quarter of 2016.
- This down from the $2.83 billion the company reported in the third quarter of 2015.
- Wall Street was expecting revenue of $2.82 billion for the quarter.
- Earnings per share reported by United States Steel Corporation was 32 cents.
- The company reported losses per share of $1.18 during the same time of the year prior.
- Analysts were expecting the company to report earnings per share of 80 cents for the quarter.
- The steel company reported net income of $51 million for the third quarter of 2016.
- Net loss reported by the company in the third quarter of 2015 was $173 million.
- The company had $1.4 billion of cash and $3.1 billion of total liquidity as of Sept. 30, 2016.
“Our third quarter results improved significantly from the second quarter as each of our segments improved, resulting in our highest quarterly segment income since the fourth quarter of 2014,” Mario Longhi, CEO of United States Steel Corporation, said in a statement.
United States Steel Corporation also released its outlook for the full year of 2016 in its earnings report for the third quarter of the year. The company says it expects to post losses per share of $2.26 for the year. Wall Street is looking for losses per share of $1.07 for the full year of 2016.
X stock was down 3% as of Wednesday afternoon, but is up 128% year-to-date.
