WEST CHESTER, Ohio — AK Steel Holding Corp. (AKS) on Tuesday reported a loss of $306.3 million in its first quarter.
On a per-share basis, the West Chester, Ohio-based company said it had a loss of $1.72. Losses, adjusted for asset impairment costs, were 28 cents per share.
The results fell short of Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.
The steel producer posted revenue of $1.75 billion in the period, also falling short of Street forecasts. Seven analysts surveyed by Zacks expected $1.79 billion.
The company's shares closed at $4.89. A year ago, they were trading at $6.87.
Keywords: AK Steel, Earnings Report
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