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X Preview: Strong Buck Could Cause Some Pain

By Scott Rothbort

About this article:
United States Steel is scheduled to report first-quarter 2009 results before the market opens on Tuesday and follow up with its quarterly conference call at 3:00 p.m. EDT the same day. The company is expected to post a loss of $1.69 per share on revenue of $3.14 billion. In the year-ago period, U.S. Steel earned a profit of $1.77 per share on revenue of $5.2 billion. When the steelmaker last reported, it surprised many skeptics when delivering EPS of $2.00 vs. expectations of 75 cents (after non-recurring items). As I reported in my commentary on that conference call, costs are being controlled, and balance sheets are strong for the industry. The auto business is hurting the steels but is not putting them out of business. I think that it is fair to say that those factors continue to be the status quo for the industry. It appears that...

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