This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

U. S. Steel Finalizes 2013 Earnings To Reflect Additional Tax Benefits

PITTSBURGH, Feb. 25, 2014 /PRNewswire/ -- United States Steel Corporation (NYSE: X) today announced that it has finalized its fourth quarter and full-year 2013 earnings, preliminarily reported on Jan. 28, 2014, to reflect additional after-tax benefits of $392 million.  As a result, U. S. Steel results for full-year 2013 improved $392 million to a net loss of $1.672 billion, or $11.56 per share, as compared to a net loss of $2.064 billion, or $14.27 per share, as reported.  The company expects the additional tax benefits will generate more than $300 million of incremental after-tax cash flow in 2014.

The tax benefits result from liquidating, for tax purposes, a non-U.S. entity that is a holding company for most of U. S. Steel's non-U.S. operations.  Additional information on these tax benefits is in the 2013 Form 10-K which was filed today.

U. S. Steel intends to use its increased cash position to accelerate The Carnegie Way transformation by investing in core business processes, including commercial, manufacturing, supply chain, procurement and innovation.

Mario Longhi, president and chief executive officer, said, "We are transforming our business with The Carnegie Way, which extends to every aspect of U. S. Steel including our operations, our balance sheet and our global structure. While we still face many challenges, we are moving forward with purpose and beginning to see the results of our actions, allowing us to accelerate investment in innovation and the company's future success."

Additional information, including forward-looking statements and risk factors, can be found in the Form 10-K on U. S. Steel's website at

SOURCE United States Steel Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs