Categories AlphaGraphs, Earnings, Other Industries

AK Steel gains on Q2 earnings beat

AK Steel (NASDAQ: AKS) reported 17% growth in second-quarter earnings to 21 cents per share, compared to 5 cents per share projected by the street. The better-than-expected earnings sent AKS stock up 2.3%.

Revenues came in at $1.68 billion, down 4% year-over-year and lower than the street view of $1.74 billion. The decrease was primarily due to lower shipments to the automotive market, as expected, and lower spot market selling prices.

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

ak steel 2Q19

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.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Lyft (LYFT) expects average ride volumes to improve through Q1 2021

Shares of Lyft Inc. (NASDAQ: LYFT) were up 8% in afternoon hours on Wednesday. The stock has gained 53% over the past 12 months and 25% since the beginning of

With new strategy in place, Target looks poised to tap growing online demand

Department store chain Target Corp. (NYSE: TGT), which has been thriving on the pandemic-driven shopping boom since early last year, maintained its strong performance during the holiday season and entered

Infographic: Dollar Tree’s (DLTR) performance in Q4

Dollar Tree (NYSE: DLTR) reported fourth-quarter financial results before the opening bell on Wednesday. The discount store reported a 7% increase in Q4 net sales to $6.7 billion. The company

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top