United States Steel Corporation’s (X) subsidiary U. S. Steel Canada announced a number of management appointments effective Feb. 1, 2014. Anton Jura, who is currently serving as president and general manager of U.S. Steel Canada, will take over a position in North American flat-rolled operations in the U.S.
Michael A. McQuade, who is currently the vice president and chief financial officer, will assume the role of president and general manager of U.S. Steel Canada. McQuade has held a number of accounting, finance, sales and operations roles throughout his 33 year career.
Roy S. Collins, the incumbent controller of Hamilton Works, will assume McQuade's responsibilities. Collins, began his 37-year career at Hamilton Works as a member of United Steelworkers Local 1005.
Also, Jodi Koch, presently the director of human resources, will take the position of director of human resources and employee relations along with the responsibility of U.S. Steel Canada and additional responsibility of U.S. Steel's Mon Valley Works based outside Pittsburgh, Pa.
U.S. Steel will release its fourth quarter and full-year 2013 results today after the close of trading. The Zacks Consensus Estimate for the fourth quarter is a loss of 26 cents.
The company recorded adjusted net loss of $20 million or 14 cents per share in the third quarter of 2013 versus net income of $66 million or 41 cents per share posted a year ago. Adjusted loss excludes an after-tax non-cash goodwill impairment charge of $1.8 billion, or $12.24 per share. The results were narrower than the Zacks Consensus Estimate of a loss of 43 cents.
After including the after-tax non-cash goodwill impairment charge, net loss for the reported quarter was $1,791 million, or $12.38 per diluted share compared with net income of $44 million, or 28 cents per share recorded in the year-ago quarter.
Revenues for the third quarter fell roughly 11.2% year over year to $4,131 million, missing the Zacks Consensus Estimate of $4,315 million.
U.S. Steel currently carries a short-term Zacks Rank #1 (Strong Buy).
Other players in the steel industry worth considering are Companhia Siderurgica Nacional (SID) and ArcelorMittal (MT) and AK Steel holding Corporation (AKS). While Companhia Siderurgica Nacional and ArcelorMittal carry a Zacks Rank #1 (Strong Buy), AK Steel retains a Zacks Rank #2 (Buy).
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