AK Steel: 3Q Earnings Snapshot
WEST CHESTER, Ohio (AP) _ AK Steel Holding Corp. (AKS) on Wednesday reported third-quarter earnings of $2.8 million.
The West Chester, Ohio-based company said it had net income of 1 cent per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The steel producer posted revenue of $1.54 billion in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $1.66 billion.
AK Steel expects full-year earnings in the range of 32 cents to 37 cents per share.
In the final minutes of trading on Wednesday, the company’s shares hit $2.67. A year ago, they were trading at $3.50.