AK Steel Holding Corp. (AKS) Tops Q2 EPS by 4c

July 23, 2013 8:31 AM EDT
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AK Steel Holding Corp. (NYSE: AKS) reported Q2 EPS of ($0.30), $0.04 better than the analyst estimate of ($0.34). Revenue for the quarter came in at $1.4 billion versus the consensus estimate of $1.42 billion.

The company said its average selling price for the second quarter of 2013 was $1,061 per ton, an 8% decrease from the second quarter of 2012 and flat with the first quarter of 2013.

Third Quarter 2013 Outlook:
Consistent with its current practice, the company said that it will provide detailed guidance for its third quarter results in September. However, the company noted that it expects to incur additional expenses related to the unplanned Middletown blast furnace outage in the third quarter. Further, the timing and amount of any insurance recovery cannot be accurately predicted at this time and could occur after the third quarter, thus resulting in a mismatch of expenses and insurance recovery.

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

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