AK Steel posts smaller 2Q loss

Staff Writer
Columbus CEO

WEST CHESTER, Ohio (AP) — AK Steel Holding Corp. (AKS) on Tuesday reported a smaller loss in its second quarter, and topped analysts' expectations.

The West Chester, Ohio-based company posted a loss of $17.1 million, or 13 cents per share, compared with a loss of $40.4 million, or 30 cents per share, in the same quarter a year earlier.

Earnings, adjusted for non-recurring costs, were 2 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

The steel producer said revenue climbed 9 percent to $1.53 billion from $1.4 billion in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $1.5 billion, according to Zacks.

AK Steel shares have increased 57 cents, or 7 percent, to $8.77 since the beginning of the year. The stock has risen $5.25, or more than doubled, in the last 12 months.


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Keywords:AK Steel,Earnings Report