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Automotive Strength To Aid AK Steel Q3 Results?

(RTTNews.com) – AK Steel Holding Corp. ( AKS ) is set to recover a third-quarter numbers before a bell on Tuesday, Oct 27, with analysts estimating a detriment of $0.08 per share on income of $1.70 billion. In a before year period, a association reported a detriment of $7.2 million or $0.05 per share and net sales of $1.59 billion. Adjusted net income was $16.4 million or $0.12 per share final year.

For a third entertain of 2015, a association expects to catch a detriment of $0.02 – $0.07 per share, reflecting an alleviation from a net detriment of $0.36 per share in a second entertain of 2015.

AK Steel pronounced it expects a certain financial effects of aloft shipments, revoke tender element costs, cost rebate efforts and aloft handling rates to partly equivalent slow low CO steel mark marketplace prices.

For a third quarter, AK Steel expects shipments of about 1,860,000 tons, an boost of about 3% from a consecutive second quarter, driven by some-more shipments to a automotive market.

AK Steel expects an normal offered cost of about $910 per ton for a third quarter, about 2% revoke than a before quarter, due to revoke CO steel mark marketplace pricing, that a association believes is driven by foul traded unfamiliar steel imports.

Lower costs for tender materials – predominantly iron ore pellets and CO throw – and energy, along with a formula of continued efforts opposite a association to revoke costs, partially equivalent a effects of revoke steel offered prices.

In a final quarter, a association reported a net detriment of $64.0 million or $0.36 per share, wider than a prior year’s detriment of $17.1 million or $0.13 per share.

On average, 17 analysts polled by Thomson Reuters approaching a association to news detriment of $0.37 per share for a quarter. Analysts’ estimates typically bar special items.

Net sales for second entertain of 2015 were $1.69 billion compared to $1.53 billion in a same duration of final year. Analysts approaching quarterly sales of $1.70 billion.

Shipments rose to 1,811,700 tons from 1,397,500 tons in a second entertain of 2014.

The association attributed a boost in sales and shipments mostly to a further of shipments from Dearborn Works, acquired in Sep of 2014, and continued clever shipments of CO and immaculate products to a automotive market.

Most recently, AK Steel released a notice to hourly and salaried employees during a Ashland, Kentucky Works that it intends to temporarily idle a blast furnace and associated steelmaking operations during a trickery as a outcome of severe domestic marketplace conditions. AK Steel pronounced it does not intend to idle a hot-dip galvanizing line during Ashland Works that essentially services automotive customers.

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Article source: http://www.nasdaq.com/article/automotive-strength-to-aid-ak-steel-q3-results-20151023-00457

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