AK Steel: 2Q Earnings Snapshot
WEST CHESTER, Ohio (AP) _ AK Steel Holding Corp. (AKS) on Monday reported second-quarter net income of $66.8 million.
On a per-share basis, the West Chester, Ohio-based company said it had profit of 21 cents.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The steel producer posted revenue of $1.68 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.77 billion.
AK Steel expects full-year earnings in the range of 37 cents to 44 cents per share.
In the final minutes of trading on Monday, the company’s shares hit $2.54. A year ago, they were trading at $5.25.