US Steel reports 2Q profit, offers optimistic outlook

This Monday, April 24, 2017, photo, shows a sign at the headquarters of US Steel in downtown Pittsburgh. United States Steel Corp. reports financial results, Tuesday, July 25, 2017. (AP Photo/Keith Srakocic) This Monday, April 24, 2017, photo, shows a sign at the headquarters of US Steel in downtown Pittsburgh. United States Steel Corp. reports financial results, Tuesday, July 25, 2017. (AP Photo/Keith Srakocic)

By Associated Press July 25, 2017 2 min read

PITTSBURGH (AP) – United States Steel Corp. shares jumped more than 9 percent after the steel maker said its second-quarter earnings rebounded from a loss and improved more than $300 million.

The Pittsburgh-based company said it earned $261 million, or $1.48 per share. That compares with a loss of $46 million, or 32 cents per share, a year ago.

Without one-time gains, the company said it would have earned $1.07 per share. That’s more than double the 40 cents per share that the eight analysts surveyed by Zacks Investment Research predicted on average.

The company’s shares gained more than 9 percent, or $2.28, to sell for $26.72 in after-hours trading Tuesday.

U.S. Steel President and CEO Dave Burritt said the company expects to earn $300 million, or $1.70 per share, this year if market conditions remain similar to today.