United States Steel Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year of 2016; Provides Earnings Guidance for the Year 2017
For the full year, the company reported net sales of $10,261,000 compared to $11,574,000 for the last year. Loss before interest and income taxes was $165,000, compared to $1,202,000 for the last year. . Loss before interest and income taxes was $416,000, compared to $1,459,000 for the last year. Net loss attributable to the company was $440,000, compared to $1,642,000 for the last year. Net income per diluted share was $2.81, compared to $11.24 for the last year. Cash provided by operating activities was $727,000, compared to $359,000 for the last year. Capital expenditures were $306,000, compared to $500,000 for the last year. Adjusted EBITDA was $510,000, compared to $202,000 for the last year. EBITDA was $342,000, compared to LBITDA of $655,000 for the last year. Adjusted net loss attributable to the company was $250,000 or $1.60 per diluted share, compared to $262,000 or $1.79 per diluted share for the last year.
For the year, the company expects net earnings attributable to the company to be $535 million or $3.08 per share, income tax expense to be $60 million, net interest and other financial costs to be $245 million, depreciation, depletion and amortization to be $460 million and annual EBITDA to be $1,300 million. The company expects cash positive for the year, primarily due to improved cash from operations.