United States Steel Corp. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period, the company reported net sales of $4,595 million against $5,172 million a year ago. Income from operations was $38 million against loss from operations of $73 million a year ago. Loss before income taxes and non controlling interests was $66 million against $123 million a year ago. Net loss attributable to company was $73 million or $0.51 per basic and diluted share against $219 million or $1.52 per basic and diluted share a year ago. Cash provided by operating activities was $233 million against $426 million a year ago. Capital expenditures were $116 million against $189 million a year ago. Adjusted net loss was $51 million, or $0.35 per diluted share, excluding an after-tax charge of $22 million, or $0.16 per diluted share. The company provided earnings guidance for the second quarter and full year 2013. For the period, the company expects total reportable segment and other businesses operating results to be near breakeven. Results for Tubular segment are projected to be comparable with the first quarter however the company expects lower results from its Flat-rolled and European segments. While the company project North American flat-rolled market conditions for the second quarter to be comparable to the first quarter, The company expects an operating loss for its Flat-rolled segment primarily due to higher operating costs. Operating costs are projected to increase due primarily to higher repairs and maintenance costs as well as higher natural gas costs offset by lower raw materials costs. Repairs and maintenance costs are projected to be $75 million higher in the second quarter due to maintenance projects already largely completed at Gary Works and Lake Erie Works. Second quarter results for its European segment are projected to decline compared to the first quarter due to higher raw materials costs, primarily iron ore. Operating profit from other businesses is expected to increase approximately $30 million due to a real estate sale expected to occur in the second quarter. The company expects a minimal tax provision/benefit in the second quarter primarily due to the full valuation allowance on deferred tax assets in Canada. As the markets that are currently strongest consume a higher percentage of value-added products, the company expects a favorable trend in product mix in the second quarter. The company estimates the full-year capital spending will be approximately $750 million. The company currently expects depreciation, depletion and amortization to be approximately $685 million for the year.

United States Steel Corp. announced that the Board of Directors declared a dividend of 5 cents per share on U. S. Steel Common Stock. The dividend is payable on June 10, 2013, to stockholders of record at the close of business May 14, 2013.

United States Steel Corp. plans to lock out unionized workers at its mill in Nanticoke, Ontario. The lockout comes after members of the company steelworkers local 8782 at the company's Lake Erie Works rejected what the company called its final offer, which the union announced that it included a three-year wage freeze, elimination of cost of living adjustments unless inflation is higher than 3% annually, co-payments on prescription drugs and reductions in holidays. A bulletin the company handed out to workers at the plant announced that the company was offering a $2,500 signing bonus if the agreement was ratified. The average wage is about $28 an hour. About 70% of the 900 workers at the mill rejected the final offer in a vote held earlier this week. The union offered to continue negotiations after the rejection, but the company issued a 72-hour notification to local 8782 that workers will be locked out.