United States Steel Corporation (NYSE: X ) has released its earnings report for the fourth quarter of 2016.
- United States Steel Corporation reported earnings per share of 27 cents during the quarter.
- The company reported losses per share of 23 cents during the same period of the year prior.
- Wall Street was expecting the company to report earnings per share of one penny in the fourth quarter.
- Revenue reported by X during the fourth quarter of 2016 was $2.65 billion.
- The company reported revenue of $2.57 billion during the fourth quarter of 2016.
- Analysts were expecting the company to report revenue of $2.67 billion in the fourth quarter of 2016.
- United States Steel Corporation reported a net loss of $105 million during the fourth quarter of 2016.
- The integrated steel company reported a net loss of $1.13 billion during the same time last year.
Mario Longhi, President and CEO of United States Steel Corporation, said that the company is starting 2017 better than it did 2016 . He notes that efforts with its Carnegie Way transformation have made progress that gives it more earnings power. He also says that improved market conditions will help the company in 2017.
United States Steel Corporation also gave guidance for 2017 in its most recent earnings report. The company says that it expects earnings per share for the year to be $3.08. It's earnings per share for the full year of 2016 was $2.81. Wall Street is expecting the company to report earnings per share of $1.86 for 2017.
X stock was up at the start of trading today, but is now down 2% as of Wednesday morning.
More From InvestorPlace
- The Top 10 Dow Dividend Stocks for February
- The 5 Best Stocks to Buy for Big Emerging Markets Profits
- 10 Stocks to Buy That Already Make America Great
The post United States Steel Corporation (X) Q4 Earnings: 8 Things to Know appeared first on InvestorPlace .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.