AK Steel Holding Corp Earnings Cheat Sheet: Narrower Loss

S&P 500 (NYSE:SPY) component AK Steel Holding Corp (NYSE:AKS) reported its results for the third quarter. AK Steel Holding is a holding company of AK Steel Corporation. The steelmaker makes such products as flat-rolled carbon, stainless and electrical steels, and aluminum-coated stainless steel. .

Investing Insights: Amazon.com has a Stock Chart Technical Analysts Dream About.

AK Steel Earnings Cheat Sheet for the Third Quarter

Results: Loss narrowed to $3.5 million (loss of 3 cents per diluted share) from $59.2 million (loss of 54 cents per share) in the same quarter a year earlier.

Revenue: Rose 0.6% to $1.59 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: AKS reported adjusted net income of 2 cents a share. It was above the mean analyst estimate was breaking even. It fell short of the average revenue estimate of $1.66 billion.

Quoting Management: “Despite the challenges of a sputtering economy and extraordinarily high raw material costs, AK Steel reported operating income for the quarter,” said James L. Wainscott, Chairman, President and Chief Executive Officer of AK Steel. “While challenging global economic conditions have created strong headwinds for our company and our country, AK Steel employees have again demonstrated their mettle with unwavering focus on our core values of safety, quality and productivity.”

Key Stats:

Revenue has risen the past four quarters. Revenue increased 12.3% to $1.79 billion in the second quarter. The figure rose 12.5% in the first quarter from the year earlier and climbed 5.4% in the fourth quarter of the last fiscal year from the year-ago quarter.

The company’s loss in the latest quarter follows profits in the previous two quarters. The company reported a profit of $33.1 million in the second quarter and a profit of $8.7 million in the first quarter.

Looking Forward: Over the past ninety days, the average estimate for the fourth quarter has fallen from 26 cents per share to 4 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. For the fiscal year, the average estimate has moved down from $1.19 a share to 42 cents over the last ninety days.

Competitors to Watch: Steel Dynamics, Inc. (NASDAQ:STLD), United States Steel Corp. (NYSE:X), Nucor Corporation (NYSE:NUE), Ternium S.A. (NYSE:TX), Commercial Metals Company (NYSE:CMC), Universal Stainless & Alloy Products (NASDAQ:USAP), Allegheny Tech. Inc. (NYSE:ATI), Ampco-Pittsburgh Corp. (NYSE:AP), ArcelorMittal (NYSE:MT), and Schnitzer Steel Industries, Inc. (NASDAQ:SCHN).

Investing Insights: Amazon.com has a Stock Chart Technical Analysts Dream About.

(Source: Xignite Financials)