- U.S. Steel (X) expects to book $1.8B in goodwill impairment charges in Q3 on its North American flat-rolled and Texas operations.
- However, the company said the action will not affect its liquidity or compliance with debt covenants.
- U.S. Steel is writing down the flat-rolled unit by $1B, mainly due to the slow economic recovery and excess global capacity.
- The company is taking an $800M hit on the Texas operations because of price and volume pressures "from an increased supply of welded tubular products." (PR)
U.S. Steel to take $1.8B in writedowns in Q3
From other sites
at Nasdaq.com (Feb 13, 2015)
at Nasdaq.com (Feb 9, 2015)
at Nasdaq.com (Feb 6, 2015)
at Nasdaq.com (Feb 5, 2015)
at Benzinga.com (Jan 13, 2015)
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