![United States Steel Corp [X] reports quarterly net loss of $171 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FX.png&w=1200&q=75)
UNITED STATES STEEL CORP [X] has reported a net loss of $171 million for quarter ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the quarter was $4.2 billion
Based in Pittsburgh, Pennsylvania, UNITED STATES STEEL CORP operates in the MANUFACTURING sector.
In the consolidated statement of operations for the 3 months ended March 31, 2024, compared to the same period in 2023, the following key financial metrics were observed:
- Net sales decreased from $4.470 billion in March 2023 to $4.160 billion in March 2024.
- Cost of sales (excluding items shown below) decreased from $3.953 billion in March 2023 to $3.665 billion in March 2024.
- Operating income decreased from $189 million in March 2023 to $154 million in March 2024.
- Earnings before income taxes decreased from $250 million in March 2023 to $209 million in March 2024.
- Net earnings decreased from $199 million in March 2023 to $171 million in March 2024.
- Earnings per share for basic amounts decreased from $0.87 in March 2023 to $0.76 in March 2024.
- Earnings per share for diluted amounts decreased from $0.78 in March 2023 to $0.68 in March 2024.
In the nonrelated party segment:
- Net sales decreased from $3.912 billion in March 2023 to $3.500 billion in March 2024.
In the related party segment:
- Net sales increased from $558 million in March 2023 to $660 million in March 2024.
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