U.S. Steel Falls Short

U.S. Steel(X Quote) was skidding more than 6% Tuesday after the firm reported worse-than-expected third-quarter earnings.

For the three months ended Sept. 30, U.S. Steel earned $269 million, or $2.27 a share, down from $417 million, or $3.42 a share, in the same period a year earlier.

The results were affected by nonrecurring items in both periods. When excluding unusual charges, the company had a profit of $2.50 a share in the latest third quarter vs. $3.59 a year ago. On average, analysts had been expecting earnings of $2.63 a share this year. ...