U.S. Steel Results Crush Estimate; Stock Up 9%

(RTTNews) - United States Steel Corp (X) on Tuesday reported fourth-quarter net earnings of $275 million or $1.83 per share. This compares with a profit of $297 million or $1.93 per share last year, when it had tax benefit of $601 million.

Excluding items, adjusted earnings for the quarter were $1.82 per share compared with $0.27 per share a year ago.

Revenues for the quarter were $4.07 billion compared with $4.27 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.87 per share on revenues of $3.96 billion for the quarter. Analysts' estimates typically exclude special items.

Total expenses for the quarter decreased to $3.68 billion from $4.5 billion in the prior year.

For the full year 2015, the company said it expects challenges from lower oil and steel prices, the impact of the stronger U.S. dollar and global overcapacity, but hopes to overcome them.

The company projects 2015 adjusted income from operations to be between $550 million and $850 million, or adjusted EBITDA of between $1.1 billion and $1.4 billion.