Summary Box: US Steel posts 1Q loss on plant sale

AP News
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Posted: Apr 24, 2012 5:30 PM
Summary Box: US Steel posts 1Q loss on plant sale

BY THE NUMBERS: United States Steel Corp. reported a net loss of $219 million, or $1.52 per share, for the first quarter, which included a $399 million loss on the sale of its plant in Serbia. Revenue rose 6.3 percent to $5.17 billion.

WHERE'S THE GROWTH? Demand was solid from oil drillers and manufacturers that produce cars, industrial equipment and other products. Shipments from its European operations fell nearly 28 percent.

WHAT'S AHEAD: The company expects second-quarter results to be similar to the first quarter. It predicted higher steel prices in Europe and overall demand to be stable.