AK Steel gains on Q2 earnings beat

The company’s adjusted EBITDA was $151.5 million, or 9.0% of net sales.

READ: Nucor reports a drop in Q2 earnings and sales

Looking ahead into fiscal 2019, the company now expects net income to be in the range of $41 to $61 million, or $0.13 to $0.20 per diluted share. 

Excluding the impact of the Ashland Works closure, adjusted net income is expected to be in the range of $118 to $138 million, or $0.37 to $0.44 per diluted share, and adjusted EBITDA to be in the range of $470 to $490 million..

The stock is down 54% so far this year, though the stock
movement has been pretty much sideways since the beginning of this year.
Meanwhile, people who have stayed invested in over 5 years will feel the pinch,
with the stock losing almost 73% of its value.

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