US Steel Corp reported Tuesday a Q3 2014 net loss of $207 million, compared with a loss of $1.79 billion during the comparable quarter last year, and a net loss of $18 million in the second quarter of 2014. Revenue for the quarter rose 11 percent to $4.6 billion year-over-year.
Commenting on results, US Steel President and Chief Executive Officer Mario Longhi said, "We experienced a significant improvement in Total reportable segments and Other Businesses income from operations in the third quarter, the highest level since the market peak in 2008. Steel market conditions in the US have remained stable and our operations have performed well, particularly our Flat-rolled segment, where we returned to more normal operating levels and income from operations increased by over $300 million from the second quarter. Our results reflect the significant improvement in our earnings power from our Carnegie Way transformation efforts."