United States Steel Corp. Q3 Profit Decreases, but beats estimates

(RTTNews) - United States Steel Corp. (X) released a profit for third quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $490 million, or $1.85 per share. This compares with $2.00 billion, or $6.97 per share, in last year's third quarter.

Excluding items, United States Steel Corp. reported adjusted earnings of $516 million or $1.95 per share for the period.

Analysts on average had expected the company to earn $1.93 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 12.8% to $5.20 billion from $5.96 billion last year.

United States Steel Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $490 Mln. vs. $2.00 Bln. last year. -EPS (Q3): $1.85 vs. $6.97 last year. -Analyst Estimates: $1.93 -Revenue (Q3): $5.20 Bln vs. $5.96 Bln last year.