U.S. Steel Grew Stronger

U.S. Steel posted stronger results in Q3.The Pittsburgh manufacturer's net loss of 303 million dollars,or -2.11 a share,was better than Q2's net loss of 392 million,or -2.92 a share.Its shipments of 4.2 million tons were up 41% from Q2,and net sales of 2.8 billion dollars were up 32% from Q2.Year to date cash flow was 118 million from operations,maintaining the company's strong liquidity position of 12.5 billion in cash and 2.7 billion in total liquidity.
U.S. Steel projected another loss in Q4,although still less of one than Q3's.Output will remain the same.CEO John Surma said that although they currently have more of their facilities operating,with more of their people back to work,demand trends remain uncertain as both the U.S. and global economies struggle to recover.Indeed,U.S. Steel is idling plants in Indiana and Illinois to prevent excess production.The company has major production operations in the U.S.,Canada and Central Europe.