AK expects to log smaller loss in quarter

Mar 22, 2013 | 11:28 AM | Catherine Ngai

Tags  steel, AK Steel, earnings forecast, quarterly earnings, steelmaker, Catherine Ngai

NEW YORK — AK Steel Corp. expects to record a net loss of between 9 and 13 cents per share for the first three months of 2013 as the traditional first-quarter improvement in the spot market has yet to materialize.

If the company’s earnings come in as expected, the first quarter will mark AK Steel’s seventh consecutive quarterly loss. However, the West Chester, Ohio-based steelmaker’s forecast will mark an improvement from the $1.89-per-share loss recorded in the fourth quarter, mainly due to lower costs for raw materials and improved average selling prices in....

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