AK Steel, U.S. Steel report better-than-expected Q3 results

Filed under: Earnings reports, U.S. Steel (X)

It was good news bad news for the steel industry Tuesday. AK Steel Holding Corp. (NYSE: AKS) and United States Steel Corp. (NYSE: X) both reported better-than-expected third-quarter results. But for U.S. Steel, it was the third straight quarterly loss as the economic downturn continued to drag down demand.

For the three months that ended in September, U.S. Steel said it lost $303 million, or $2.11 per share. That compares with a profit of $919 million, or $7.79 per share, in the same period of last year. Revenue for the quarter fell 61% to $2.82 billion. Analysts surveyed by Thomson Reuters had expected a loss of $2.87 per share on revenue of $2.72 billion.

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AK Steel, U.S. Steel report better-than-expected Q3 results originally appeared on BloggingStocks on Tue, 27 Oct 2009 17:45:00 EST. Please see our terms for use of feeds.

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