U.S. Steel posts $1.79B net loss in 3d qtr.

Oct 29, 2013 | 03:47 PM | Thorsten Schier

Tags  U.S. Steel, flat-rolled, tubular, third quarter 2013, Mario Longhi, Thorsten Schier

NEW YORK — U.S. Steel Corp. swung to a $1.79-billion net loss in the third quarter vs. year-earlier net income of $44 million, driven by a recently announced $1.8-billion write-down.

Excluding the impairment charges, which were primarily related to the Pittsburgh-based steel producer’s North American flat-rolled operations and Texas tubular operations (amm.com, Oct. 21), the company posted a quarterly net loss of $20 million on sales that fell 11.2 percent year on year to $4.13 billion.....

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