real-time news and commentary for investors
Thursday, Sep 19
AK Steel provides below-consensus Q3 guidance
- AK Steel (AKS) -2% AH after saying it expects to incur a net Q3 EPS loss of $0.22-$0.27 vs. consensus expectations of a $0.10 loss.
- Expects shipments of 1.24M-1.26M tons in Q3, down 5%-6% Q/Q, due mostly to the effects of the unplanned outage at the Middletown Works blast furnace and to a seasonal reduction in shipments to the automotive market.
- Sees average Q3 selling price to increase slightly to ~$1,065/ton, due to a more favorable mix of value-added products Q/Q.