AK Steel Holding Corporation
) has provided its outlook for the first quarter of 2013. AK
Steel forecasts net loss to be lower in the quarter compared with
the fourth quarter of 2012 due to lower raw material costs.
AK Steel expects net loss to be in the range of 9 cents to 13
cents per share for the first quarter of 2013, which is narrower
than the loss of 30 cents recorded in the fourth quarter of 2012.
AK Steel expects average selling price to rise about 5% to $1,060
per ton in the first quarter from average selling price per ton
of $1,011 in the fourth quarter of 2012.
Shipments, for the first quarter, are expected to be in the range
of 1,275,000 to 1,300,000 tons compared with 1,406,100 tons in
the fourth quarter of 2012. AK Steel projects shipments to the
spot market to decrease sequentially as the normal cyclical
improvement in spot market shipments has not yet materialized.
However, shipments to the automotive markets are expected to
increase in the first quarter.
AK Steel also expects to record a non-cash tax benefit of
approximately $4 million to $5 million for the first quarter of
AK Steel is making good progress with its coal mine plan and
expects to begin mining activities in the first half of 2013. It
is also making significant progress with its iron ore pellet
project at Magnetation. Both these strategic investments are
expected to improve the company's cost structure and strengthen
its position in the years ahead.
AK Steel currently maintains a Zacks Rank #3 (Hold).
Other companies in the steel industry worth considering are
Gibraltar Industries Inc.
Shiloh Industries Inc.
Companhia Siderurgica Nacional
). While Gibraltar and Shiloh hold a Zacks Rank #1 (Strong Buy)
Companhia Siderurgica carries a Zacks Rank #2 (Buy).
AK STEEL HLDG (AKS): Free Stock Analysis
GIBRALTAR INDUS (ROCK): Free Stock Analysis
SHILOH INDS INC (SHLO): Get Free Report
CIA SIDERUR-ADR (SID): Free Stock Analysis
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