Higher oil prices and strong demand for...
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Higher oil prices and strong demand for steel helped USX Corp. more than triple profit in the fourth quarter, the steel and energy company said.
The Pittsburgh-based firm’s net income totaled $128 million, up from $37 million in the fourth quarter of 1993. Figures in both years were altered by one-time gains and expenses. Sales rose nearly 13% to $5.18 billion from $4.6 billion.
For all of 1994, USX’s profit totaled $501 million, up from a loss of $259 million in 1993. USX does not provide per-share results for corporate profit because stock in its three divisions trades separately.
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