AK Steel expects bigger quarterly loss

Jun 17, 2013 | 04:54 PM | Catherine Ngai

Tags  AK Steel, earnings guidance, blast furnace, automotive, steel, Catherine Ngai

NEW YORK — AK Steel Corp. expects to post a bigger second-quarter net loss due to a planned blast furnace outage at one of its facilities, lower selling prices for carbon flat-rolled products and several tax expenses. However, the company expects pricing to improve in coming months.

The steelmaker anticipates a net loss of 33 to 38 cents per diluted share for the three months ending June 30, according to a guidance released June 17, compared with a first-quarter net loss of 7 cents per share, or $9.9 million (amm.com, April 23). If results come in as expected, it would be the company’s eighth consecutive quarterly loss. ....

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