U.S. Steel Q4 Net Falls But Beats Views

United States Steel Corporation X gained in Tuesday's extended session after the company beat fourth-quarter expectations despite declining steel prices.

Shares of the company jumped more than 8 percent, trading recently at $23.15.

Fourth quarter net income dropped 7 percent to $275 million, or $1.83 per diluted share, compared with $297 million, or $1.93 per diluted share a year earlier.

Revenue fell 4.6 percent to $4.07 billion, from $4.27 billion a year earlier.

Wall Street expected $0.87 a share on revenue of $3.96 billion.

The company forecast a 26 percent decline in 2015 adjusted earnings before interest, taxes, depreciation and amortization to between 1.1 billion and $1.4 billion, compared with $1.7 billion posted for 2014.

Full-year 2015 adjusted income from operations will be between $550 million and $850 million, the company said.

Income from operations in 2014 was $397 million, excluding post retirement benefits and other items.

Dr. Thomas K. Carr, founder of DrStoxx, noted that shares of U.S. Steel are down sharply from from a 52-week high of $46.55.

Mario Longhi Filho, named chief executive of U.S. Steel in September 2013, "has been aggressively cutting costs." to increase cash flow, Carr told Benzinga.

"This will be the story at earnings: has Mario Longhi found new ways to cut costs?" Carr said.