AK Steel: 4Q Earnings Snapshot
WEST CHESTER, Ohio (AP) _ AK Steel Holding Corp. (AKS) on Monday reported fourth-quarter net income of $33.5 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the West Chester, Ohio-based company said it had net income of 11 cents. Earnings, adjusted for non-recurring costs, came to 16 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The steel producer posted revenue of $1.68 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $1.7 billion.
For the year, the company reported profit of $186 million, or 59 cents per share. Revenue was reported as $6.82 billion.
AK Steel expects full-year earnings to be 51 cents to 57 cents per share.
In the final minutes of trading on Monday, the company’s shares hit $2.70. A year ago, they were trading at $6.34.