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Last €2.24 EUR
Change Today +0.068 / 3.14%
Volume 0.0
AK2 On Other Exchanges
New York
As of 5:26 AM 10/5/15 All times are local (Market data is delayed by at least 15 minutes).

ak steel holding corp (AK2) Snapshot

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52 Week High
10/29/14 - €6.14
52 Week Low
09/28/15 - €1.94
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Current Stock Chart for AK STEEL HOLDING CORP (AK2)

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ak steel holding corp (AK2) Details

AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, stainless and electrical steel, and tubular products in the United States and internationally. It produces flat-rolled value-added carbon steels, including coated, cold-rolled, and hot-rolled carbon steel products; and specialty stainless and electrical steels in sheet and strip forms. The company also produces carbon and stainless steel that is finished into welded steel tubing, which is used in the automotive, large truck, industrial, and construction markets; buys and sells steel and steel products, and other materials; and produces metallurgical coal from reserves in Pennsylvania. It sells its flat-rolled carbon steel products primarily to automotive manufacturers and to customers in the infrastructure and manufacturing markets, including electrical transmission, heating, ventilation and air conditioning equipment, and appliances; and coated, cold-rolled, and hot-rolled carbon steel products to distributors, service centers, and converters. The company sells its stainless steel products to manufacturers and their suppliers in the automotive industry; manufacturers of food handling, chemical processing, pollution control, and medical and health equipment; and distributors and service centers. It also sells electrical steel products to manufacturers of power transmission and distribution transformers, as well as for use in the manufacture of electrical motors and generators. AK Steel Holding Corporation was founded in 1993 and is headquartered in West Chester, Ohio.

8,000 Employees
Last Reported Date: 02/20/15
Founded in 1993

ak steel holding corp (AK2) Top Compensated Officers

Chairman, Chief Executive Officer, President ...
Total Annual Compensation: $1.2M
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $501.9K
Executive Vice President of Manufacturing
Total Annual Compensation: $393.2K
Compensation as of Fiscal Year 2014.

ak steel holding corp (AK2) Key Developments

AK Steel Provides Earnings and Production Guidance for the Third Quarter 2015

AK Steel provided earnings and production guidance for the third quarter 2015. The company expects to report a net loss of $0.02 to $0.07 per diluted share of common stock for the third quarter of 2015, reflecting an improvement from the net loss of $0.36 per diluted share in the second quarter of 2015. The company expects the positive financial effects of higher shipments, lower raw material costs, cost reduction efforts and higher operating rates will partially offset lingering low carbon steel spot market prices. For the third quarter of 2015, the company expects shipments of approximately 1,860,000 tons, an increase of approximately 3% compared to the second quarter of 2015. The increase in shipments quarter over quarter is primarily related to increased shipments to the automotive market.

AK Steel Holding Considering Multiple Strategic Alternatives

AK Steel Holding Corporation (NYSE:AKS) is considering multiple strategic alternatives. James Wainscott, Chairman, President and Chief Executive Officer of AK Steel Holding, said, “"So we have a wide range of opportunities to look at, and we are looking at them. Depending on the outcome of our analysis, we may very well change the structure of our business, as well as the products we produce and the markets we serve. But AK Steel Holding will try to avoid catching current-event syndrome and making knee-jerk decisions that could hurt its long-term prospects.” AK Steel has undertaken a strategic reassessment following a collapse in its share price, company executives said this week.

AK Steel Holding Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter and Second-Half of 2015

AK Steel Holding reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net loss of $64 million, or $0.36 per share; compared to a net loss of $17.1 million, or $0.13 per share. Net sales were $1.69 billion, up from $1.53 billion reported for the same period last year. Adjusted EBITDA for the second quarter of 2015 was $47.6 million or $26 per ton. This compares to EBITDA of $57.5 million or $33 per ton in the first quarter of 2015. The primary driver of this decline was lower carbon steel spot market prices, partially offset by lower raw material cost. Loss before income taxes was $34.9 million against income before income taxes of $0.3 million a year ago. Operating profit was $7.1 million against $36.5 million a year ago. EBITDA was $65.7 million against $83.6 million a year ago. The company's shipments in the second quarter of 2015 were higher than the first quarter of 2015, primarily as a result of increased shipments to the carbon spot market and continued strength in the automotive market. The increase in shipments and sales for the second quarter of 2015 compared to the year-ago period was due principally to the addition of shipments from Dearborn Works (acquired in September of 2014) and continued strong shipments of carbon and stainless products to the automotive market. For the six months, revenues were more than $3.4 billion, an increase of approximately $526 million or 18% compared to the first half of 2014, and this was primarily due to the acquisition of Dearborn Works. Net loss was $370.3 million or $2.08 per share compared to a net loss $103.2 million or $0.76 per share for the first half of 2014. Loss before income taxes was $318 million against $69.1 million a year ago. Operating profit was $40.9 million against $1.2 million a year ago. Net cash flows from operating activities was $83.9 million against net cash flows used in operating activities of $331.1 million a year ago. Capital investments was $48.9 million against $27.3 million a year ago. Adjusted EBITDA was $105.1 million against $61.7 million a year ago. LBITDA was $114 million against EBITDA of $99.3 million a year ago. The increase in shipments is primarily the result of the acquisition of Dearborn Works, as well as continued strength in the automotive market. The company expects to generate improved results for the third quarter and for the second-half of 2015 as compared to the second quarter and first-half of 2015. Chief among these reasons are anticipated higher shipments, improving carbon steel spot market prices, increased production levels resulting in lower per ton operating costs, and the continuing benefit of lower raw materials costs, in particular, iron ore. The company expects shipments to customers in its large market, automotive, to remain strong.


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