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AK Steel: 3Q Earnings Snapshot

October 30, 2019 GMT

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.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AKS at https://www.zacks.com/ap/AKS