Bethlehem Steel Corp. reported that its second-quarter...
- Share via
Bethlehem Steel Corp. reported that its second-quarter loss widened from a year earlier and that it will lose more money in the third quarter, partly due to rising steel imports.
For the quarter, the Bethlehem, Pa.-based steelmaker said it lost $64 million, equal to 92 cents a share, contrasted with a smaller loss of $29 million, or 46 cents a share, a year earlier. It reported sales of $1 billion, down from $1.12 billion in the second quarter of 1991.
Bethlehem said its steel shipments in the second quarter were 2% higher than a year ago, but said the increase would have been larger except for what it called “unfairly traded” imported steel. It said its results were also hurt by higher labor costs.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.