AK Steel warns of 3d-quarter net loss

Sep 20, 2013 | 02:32 PM | Catherine Ngai

Tags  AK Steel, steel, Middletown Works, earnings guidance, steel producer, Nucor, Steel Dynamics, Catherine Ngai

NEW YORK — AK Steel Corp. expects to post a third-quarter loss due to costs associated with an unplanned blast furnace outage at its Middletown (Ohio) Works coupled with a seasonal reduction in shipments to the automotive industry.

The West Chester, Ohio-based steelmaker’s third-quarter guidance issued Sept. 19 said it expects to incur a net loss of 22 to 27 cents per diluted share on shipments of 1.24 million to 1.26 million tons, down about 5.3 percent from 1.32 million tons in the second quarter.....

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