UPDATE: AK Steel Down 5% - Q3 Loss Worse Than Expected, Co Warns On Q4


Shutterstock photo

AK Steel ( AKS ) shares are down more than 5% but above a day low $5.10 following the company's pre-bell report that Q3 its net loss was $60.9 million, or $0.55 per diluted share of common stock, compared to a net loss of $3.5 million, or $0.03 per diluted share, for Q3 of 2011. AKS reportedly said it expects to incur a net loss for Q4 2012.

Excluding tax expenses and an inventory accounting credit, the adjusted loss was 25 cents per share, Reuters said. On that basis, it beat Wall Street estimates for a loss of 36 cents per share, according to Thomson Reuters I/B/E/S. Sales dropped to $1.46 billion from $1.58 billion.

The analyst consensus on Capital IQ was a loss of $0.37 per share on revenue

of $1.469 bln.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com