AK Steel posts fifth straight quarterly loss
Oct 23, 2012 | 11:14 AM
| Anne Riley
NEW YORK AK Steel Corp. reported its fifth consecutive quarterly loss in the third quarter, and said it anticipates logging a sixth quarter in the red during the final months of 2012.
The West Chester, Ohio-based steelmaker, which last reported a quarterly profit during the second quarter of 2011, said elevated input costs and lower sales prices were partially behind the loss.
"Challenging domestic and global economic conditions continue to weigh on shipping volumes and prices," chairman, president and chief executive officer James L. Wainscott said in a statement. "Additionally, while we expect to enjoy lower raw material costs in the future, we are still working through some higher-cost raw material inventories."....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.