AK Steel beats by $0.06, beats on revs
Reports Q4 (Dec) earnings of $0.14 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus Estimate of $0.08; revenues rose 36.4% year/year to $2.00 bln vs the $1.96 bln consensus.
- "AK Steel's improved financial performance represented its best quarter of the year and quarter-over-quarter reflects strong market demand for our automotive products, lower steelmaking input costs, and the first full quarter of results associated with the Dearborn Works acquisition."
- Average selling price was $987 per ton, a 4% decrease from the $1,031 per ton reported for 4Q13 and a 9% decrease from Q3.