United States Steel Swings to Profit
United States Steel Corp., the largest U.S. steelmaker, said it had second-quarter earnings of 28 cents a share as revenue rose.
Net income was $27 million, contrasted with a net loss of $30 million, or 34 cents a share, a year earlier. Sales rose 4% to $1.81 billion.
Pittsburgh-based U.S. Steel has been helped by rising steel prices because tariffs imposed in March have lessened competition from imports. The shutdown of financially troubled rivals also has reduced production and helped bolster prices.
U.S. Steel shares fell 76 cents to $15.29 on the NYSE. The results were announced after U.S. markets closed.
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