AK Steel (AKS) Tops Q2 EPS by 1c, Offers Outlook

AK Steel (NYSE: AKS) reported Q2 EPS of ($0.36), $0.01 better than the analyst estimate of ($0.37). Revenue for the quarter came in at $1.69 billion versus the consensus estimate of $1.71 billion.

Third Quarter 2015 Outlook

Consistent with its current practice, the company said that it will provide detailed guidance for its third quarter 2015 financial results in September. However, at this time, the company believes it is appropriate to provide the following qualitative guidance.

For a variety of reasons, the company expects to generate improved results for the third quarter and for the second-half of 2015 as compared to the second quarter and first-half of 2015. Chief among these reasons are anticipated higher shipments, improving carbon steel spot market prices, increased production levels resulting in lower per ton operating costs, and the continuing benefit of lower raw materials costs, in particular, iron ore. The company expects shipments to customers in its largest market, automotive, to remain strong.

In addition, the company expects the level of what the company believes are unfairly traded imports of carbon steel products will continue to decline in the second-half of the year, principally because of the pending and anticipated future steel industry trade cases, resulting in increased domestic steel shipments and a continuing improving trend in selling prices.

For earnings history and earnings-related data on AK Steel (AKS) click here.

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