AK Steel posts smaller 2Q loss
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.
This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full AKS report: http://www.zacks.com/ap/AKS
Keywords:AK Steel,Earnings Report