U.S. Steel Corp. announced Thursday afternoon that its financial performance will be worse than expected in the fourth quarter, and the company plans to...
U.S. Steel Corp. X, -1.84% announced Thursday afternoon that its financial performance will be worse than expected in the fourth quarter, and the company plans to slash its dividend, suspend stock repurchases, lay off workers and suspend some operations. In two news releases, the steel giant said that it now expects to report an adjusted loss of $1.15 a share in the fourth quarter; analysts had expected U.S. Steel to report an adjusted loss of 62 cents a share, according to FactSet.
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