BofA/Merrill Lynch Downgrades US Steel (X) to Underperform
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United States Steel Corporation Reports Improved 2016 Second Quarter Results And Stronger Cash And Liquidity Position
July 26, 2016 4:50 PM EDTPITTSBURGH, July 26, 2016 /PRNewswire/ -- United States Steel Corporation (NYSE: X) reported a second quarter 2016 net loss of $46 million, or $0.32 loss per diluted share, which included a favorable adjustment of $23 million, or $0.16 per diluted share, associated with a change in estimate for supplemental unemployment, severance and health care continuation costs and a loss on debt extinguishment of $24 million, or $0.17 loss per diluted share. This compared to a second quarter 2015 net loss of $261 million, or $1.79 loss per diluted share, and a first quarter 2016 net loss of $340 million, or $2.32 loss per diluted share.Â
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