AK Steel beats by $0.03, misses on revs
Reports Q1 (Mar) loss of $0.40 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of ($0.43); revenues rose 1.0% year/year to $1.38 bln vs the $1.40 bln consensus.
- Average selling price was $1,096 per ton, a 3% YoY increase. The increase in average selling price was principally due to a richer shipment mix of value-added products.
- "Our first quarter results were negatively impacted by extreme cold weather in the U.S., as well as planned and unplanned outages at our Ashland Works. Having worked through those challenges, we believe that AK Steel is well-positioned for a much improved second quarter."