Once upon a time, there was an old-line Pittsburgh-based company that became a bottle rocket. The result was U.S. Steel's
Clearly, the United States' largest steel producer blew away anyone who had even tried to forecast its results. Income rocketed to $668 million, or $5.65 a share, compared to $302 million, or $2.54 a share, a year ago. The per-share expectation had been closer to $3.91, while income growth was more than double the 60% net sales increase. Each of the company's segments chipped in to propel second-quarter results, increasing price realizations across all units.
The company's report follows solid performances from the likes of Steel Dynamics
Nevertheless, U.S. Steel clearly is off to the races. Given its size and increasing product prices, I'd keep both eyes focused on this bottle rocket. Nearly a thousand Motley Fool CAPS players believe U.S. Steel will outperform the market. Why not weigh in with your opinion?