U.S. Steel Has Profit of $100 Million in Quarter

United States Steel Corp. reported third-quarter profits of $100 million, which Chairman David M. Roderick called an improvement over the 1984 third quarter.

Revenue for the comparable periods climbed 6% to $5 billion from $4.7 billion. The company said it made profits of $153 million in the like 1984 third quarter.

“While net income declined from the third quarter of 1984, third-quarter results actually improved over the same period when non-recurring items are excluded,” Roderick said in a statement.

U.S. Steel’s oil and gas businesses, primarily Marathon Oil, reported operating income before foreign taxes of $344 million on sales of $2.7 billion, compared to $315 million on revenue of $2.5 billion in the previous third quarter.

Steel, mining and related businesses operated at a loss of $4 million on revenue of $1.7 billion in the latest quarter, compared to an operating profit of $81 million on revenue of $1.6 billion a year earlier.

The 1984 figures for those businesses benefited by a $75-million adjustment on first-half pension obligations.

Operating income for other businesses totaled $1 million, down from $15 million in last year’s third quarter.

The quarterly results “reflected a continuation of strong operating results at Marathon and the severe impact of lower steel transaction prices fueled by foreign imports,” Roderick said. “These conditions are expected to continue to be the major influences in near-term profit results.”