AK Steel Holding Earnings: Here’s Why Investors Like These Results

AK Steel Holding Corporation (NYSE:AKS) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 3.77%.

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AK Steel Holding Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $-0.07 in the quarter versus EPS of $-0.11 in the year-earlier quarter.

Revenue: Decreased 9.21% to $1.37 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: AK Steel Holding Corporation reported adjusted EPS loss of $0.07 per share. By that measure, the company beat the mean analyst estimate of $-0.11. It missed the average revenue estimate of $1.39 billion.

Quoting Management: “AK Steel’s results reflect significant progress for the company during the first quarter,” said James L. Wainscott, Chairman, President and CEO. “We experienced increased shipments to the automotive market, a higher-priced product mix, and lower costs, primarily for raw materials.”

Key Stats (on next page)…

Revenue decreased 3.75% from $1.42 billion in the previous quarter. EPS increased to $-0.07 in the quarter versus EPS of $-0.30 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.05 to a profit $0.02. For the current year, the average estimate has moved down from a profit of $0.12 to a loss of $0.05 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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