RTTNews | Oct 29, 2021 10:10AM EDT

10:10 Friday, October 29, 2021 (RTTNews.com) - United States Steel Corp. (X) shares are gaining on Friday morning trade after the company reported a swing to profit for the third quarter, while adjusted earnings beat analysts' estimates.

Quarterly net earnings were $2.002 billion, or $6.97 per share, compared to net loss of $234 million, or $1.06 per share in the prior year. Adjusted net earnings were $1.543 billion, or $5.36 per share. Analysts were looking for earnings of $4.85 per share. Net sales more than doubled to $5.964 billion from $2.340 billion in the prior year.

Currently, shares are at $26.33, up 12.95 percent from the previous close of $23.38 on a volume of 24,167,340. For the 52-week period, the shares have traded in a range of $8.96-$30.57 on average volume of 21,387,981.

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