Trade with Eva: Analytics in action >>

Monday, July 30, 2018

-=AK Steel (AKS) reported earnings on Mon 30 July 2018 (a/h)

AK Steel beats by $0.01, reports revs in-line; expects Q3 margin improvement 
  • Reports Q2 (Jun) earnings of $0.22 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $0.21; revenues rose 12.2% year/year to $1.75 bln vs the $1.75 bln Capital IQ Consensus.
  • "We expect that the continued strong business environment will result in improved performance in the second half of 2018 compared to the first half and position us well for resetting a majority of our annual contracts later this year."
  • The company anticipates that market conditions will remain strong in the third quarter. Accordingly, the company expects:
    • An increase in flat-rolled shipments in the third quarter of approximately 5% compared to the second quarter of 2018.
    • An average selling price per flat-rolled ton of $1,105.
    • Margins to improve by about 50 basis points from the second quarter of 2018.

No comments:

Post a Comment