Jan 30 (Reuters) - U.S. Steel reported
fourth-quarter loss and revenue that matched Wall Street
estimates on Thursday, dented by price declines and a bumpy
demand environment.
The industry has been struggling, as distributors have
refrained from purchasing material in excess of their inventory
amid a supply glut fueled by domestic production and imports.
U.S. Steel is attempting to salvage an about $15 billion
sale to Nippon Steel ( NISTF ) and navigate rivals
Cleveland-Cliffs ( CLF ) and Nucor ( NUE ) vying for a shot at a
takeover.
Activist investor Ancora has nominated nine candidates to
U.S. Steel's board of directors, as it looks to oust its CEO
David Burritt and push the company to pull the deal with Nippon
.
On an adjusted basis, the company lost 13 cents per share
during the quarter ended Dec. 31, in line with analysts'
estimates, according to data compiled by LSEG.
The company's overall quarterly revenue fell 15% to $3.5
billion from a year ago, but met estimates.
(Reporting by Nathan Gomes in Bengaluru; Editing by Sriraj
Kalluvila)