United States Steel Corporation reports a third quarter 2019 net loss of $84 million (or $0.49 per diluted share). Adjusted net loss is $35 million or $0.21 per diluted share. This compares to third quarter 2018 net earnings of $291 million, or $1.62 per diluted share. Adjusted net earnings for third quarter 2018 were $321 million, or $1.79 per diluted share.
On the other hand, the company also recently completed the acquisition of a 49.9% ownership interest in Big River Steel (“Big River”) for approximately $700 million, which implies an enterprise value of $2.325 billion.