AK Steel (AKS) Tops Q4 EPS by 16c

AK Steel (NYSE: AKS) reported Q4 EPS of $0.25, $0.16 better than the analyst estimate of $0.09. Revenue for the quarter came in at $1.42 billion versus the consensus estimate of $1.41 billion.

"The strategy that we introduced at the beginning of 2016 generated improved results and a stronger AK Steel," said Roger K. Newport, AK Steel's Chief Executive Officer. Mr. Newport continued, "Our work to optimize our footprint, relentlessly focus on costs, and reduce exposure to commodity spot markets generated improved margins. By successfully completing several capital market transactions, we were able to significantly strengthen our balance sheet. These actions position us well for the future."

4th Quarter 2016 Highlights

• Sales of $1.42 billion with an average selling price of $998 per ton
• Net loss of $62.4 million, or $0.22 per diluted share, includes benefit plan and other charges
• Adjusted net income of $75.2 million, or $0.25 per diluted share
• Adjusted EBITDA of $164.9 million, or 11.6% of net sales, including unrealized mark-to-market gains on iron ore derivatives
• Liquidity of $1.35 billion

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

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