AK Steel: 2Q Earnings Snapshot
WEST CHESTER, Ohio (AP) _ AK Steel Holding Corp. (AKS) on Monday reported second-quarter earnings of $56.6 million.
On a per-share basis, the West Chester, Ohio-based company said it had net income of 18 cents. Earnings, adjusted for non-recurring costs, were 22 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The steel producer posted revenue of $1.75 billion in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $1.74 billion.
AK Steel shares have fallen slightly more than 5 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $5.36, a drop of 2 percent in the last 12 months.