USS results hurt by economic climate

Jan 29, 2013 | 01:32 PM | Catherine Ngai

Tags  U.S. Steel, John Surma, earnings results, flat-rolled, tubular, Catherine Ngai

NEW YORK — U.S. Steel Corp. posted a fourth-quarter net loss of $50 million, citing uncertainty in the global economic climate and high import levels.

"For the third consecutive quarter all three of our reportable segments (flat-rolled, tubular and U.S. Steel Europe) had positive operating results despite the uncertain global economic environment," U.S. Steel chairman and chief executive officer John P. Surma said in a statement Jan. 29. "Lower drilling and project line pipe activity, as well as continued high import levels, significantly reduced our tubular segment’s results. For our flat-rolled segment, our profitability was negatively affected by....

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