Today it became known that one of the largest US Steel Corporation United States Steel Corporation (US Steel, USA) graduated from the second quarter of 2013 with a loss of $ 78 million, after $ 73 million in the first quarter and $ 101 million in the APPG-2012. This is stated in the message by US Steel.
"The results of the activity reflect the consequences of the ongoing Lokaut at our Lake Erie Works factory and the slowdown in global economic growth throughout the quarter," the general director of the company John P. Surma commented on sad statistics.
Sheet steel showed negative profitability due to a reduction in sales and growth in production costs. Operating expenses increased due to an increased amount of repairs, the increased cost of maintenance and a higher cost of natural gas. Losses were partially compensated by the drop in prices for metallurgical raw materials. The average price of the rental and electric welding pipes was comparable to the indicators of the first quarter.
The main operating profit of US Steel arose as a result of the sale of real estate of the company in the second quarter of 2013.
The main results of US Steel for the first and second quarter of 2013
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