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U.S. Steel: 3Q Earnings Snapshot

·1 min read

PITTSBURGH (AP) _ United States Steel Corp. (X) on Thursday reported a loss of $234 million in its third quarter.

On a per-share basis, the Pittsburgh-based company said it had a loss of $1.06. Losses, adjusted for non-recurring gains, came to $1.21 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $1.39 per share.

The steel maker posted revenue of $2.34 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $2.21 billion.

U.S. Steel shares have declined 14% since the beginning of the year, while the Standard & Poor's 500 index has climbed 2.5%. In the final minutes of trading on Thursday, shares hit $9.83, a drop of 20% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on X at https://www.zacks.com/ap/X