Last $93.00 MXN
Change Today +5.50 / 6.29%
Volume 17.0K
AKS* On Other Exchanges
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ak steel holding corp (AKS*) Snapshot

Open
$93.90
Previous Close
$87.50
Day High
$93.90
Day Low
$93.00
52 Week High
08/26/14 - $148.00
52 Week Low
10/22/13 - $51.00
Market Cap
16.0B
Average Volume 10 Days
10.6K
EPS TTM
--
Shares Outstanding
171.8M
EX-Date
08/11/12
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for AK STEEL HOLDING CORP (AKS*)

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ak steel holding corp (AKS*) 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.

6,400 Employees
Last Reported Date: 02/21/14
Founded in 1993

ak steel holding corp (AKS*) Top Compensated Officers

Chairman, Chief Executive Officer, President ...
Total Annual Compensation: $1.2M
Chief Financial Officer, Senior Vice Presiden...
Total Annual Compensation: $360.0K
Vice President of Operations
Total Annual Compensation: $320.0K
Chief Legal & Administrative Officer, Executi...
Total Annual Compensation: $637.5K
Compensation as of Fiscal Year 2013.

ak steel holding corp (AKS*) Key Developments

AK Steel Introduces New Stainless Steel Product

AK Steel announced that the company has introduced CHROMESHIELD(TM) 22, a new nickel-free stainless steel product with enhanced benefits and stable pricing for customers. CHROMESHIELD 22 was developed by AK Steel at its Research Center in Middletown, Ohio, principally for manufacturers of appliance and food service equipment, tubing, cookware, automotive exhaust components and heat exchangers. After rigorous testing and customer trials, CHROMESHIELD 22 has proven itself to be an attractive, lower-cost material solution with numerous manufacturing benefits across several of the most demanding applications. Similar to nickel-bearing stainless steels, CHROMESHIELD 22 is rust and stain resistant with excellent corrosion properties. In numerous applications, the corrosion resistance of CHROMESHIELD 22 will meet or exceed the performance of conventional nickel-bearing stainless steels. This breakthrough in technology will better maintain both the integrity and appearance of the product versus many higher priced stainless steels. In addition, CHROMESHIELD 22 withstands extreme changes in temperature better than nickel-bearing grades of stainless steel used for comparable applications. This is particularly important to manufacturers of automotive exhaust components, cookware and heat exchangers, as CHROMESHIELD 22 offers enhanced protection against both oxidation and temperature-related stress and fatigue fractures. AK Steel's CHROMESHIELD 22 also has been approved by NSF International as safe for food contact. This is a critical benefit for the food service equipment market. AK Steel's CHROMESHIELD 22 is produced in America, allowing customers to secure domestic sourcing for their U.S. manufacturing operations. Since CHROMESHIELD 22 does not contain nickel, pricing is more predictable than the extremely volatile fluctuations of nickel-bearing steels, whose costs are driven by nickel trading on the London Metal Exchange.

AK Steel Holding Corporation Provides Earnings and Operating Guidance for the Third Quarter of 2014

AK Steel Holding Corporation provided earnings and operating guidance for the third quarter of 2014. For the quarter, the company expected to report net income of $0.05 to $0.10 per diluted share of common stock, representing a substantial improvement over its second quarter results. For the third quarter of 2014, the company expects shipments of approximately 1,350,000 tons, a decrease of approximately 3% from the 1,398,000 tons shipped in the second quarter of 2014. Shipments for the third quarter reflect the effects of reduced production at the company's Ashland Works blast furnace due to a recent unplanned maintenance outage and subsequent production shortfall, partly offset by continued strong demand from the automotive market. The company expects its average selling price for the third quarter of 2014 will be approximately $1,100 per ton, similar to the second quarter average selling price of $1,095 per ton. The small anticipated increase in the company's overall average selling price is primarily due to a lower percentage of product shipments to the carbon spot market in the third quarter compared to the second quarter. The company will benefit from substantially lower iron ore and energy costs in the third quarter compared to the prior quarter.

AK Steel Holding Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter of 2014; Provides Depreciation and Amortization Expense Outlook for the Year 2014

AK Steel reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net sales of $1,530.8 million compared to $1,404.5 million a year ago. Operating profit was $36.5 million compared to $13.7 million a year ago. Income before income taxes was $0.3 million compared to loss before income taxes of $15.8 million a year ago. Net loss attributable to the company was $17.1 million or $0.13 per basic and diluted share compared to $40.4 million or $0.30 per basic and diluted share a year ago. EBITDA was $83.6 million compared to $65.9 million a year ago. Adjusted EBITDA was $64.5 million or $46 per ton compared to $47.5 million or $36 per ton a year ago. Second quarter financial results were also negatively impacted by the lingering effect of the severe winter weather, which reduced iron ore deliveries, slowed blast furnace production and caused an increase in transportation costs. The weather-related costs impact in second quarter results totaled approximately $15 million or $0.11 per diluted share. Capital investments were $13.5 million. Adjusted net income was $2.9 million or a profit of $0.02 per diluted share for the second quarter of 2014, which exceeded its guidance of an adjusted net loss ranging from $0.02 to $0.06 per share. For the six months, the company reported net sales of $2,914.3 million compared to $2,774.3 million a year ago. Operating profit was $1.2 million compared to $46.9 million a year ago. Loss before income taxes was $69.1 million compared to $11.8 million a year ago. Net loss attributable to the company was $103.2 million or $0.76 per basic and diluted share compared to $50.3 million or $0.37 per basic and diluted share a year ago. Net cash outflows from operating activities were $331.1 million compared to $104.5 million a year ago. Capital investments were $27.3 million compared to $31 million a year ago. Capital investments--SunCoke Middletown were $0.3 million compared to $1.4 million a year ago. EBITDA was $99.3 million compared to $152.9 million a year ago. Adjusted EBITDA was $61.7 million or $23 per ton compared to $114.3 million or $44 per ton a year ago. The company expects results in the third quarter of 2014 to be much better than the second quarter. Among the reasons for this improvement is that they expect to benefit in a meaningful way from declining iron ore costs. The company expects depreciation expense to be much lower for AK Steel than was the case for Severstal. Upon completion of the acquisition, the company estimates that annual depreciation and amortization expense will be in a range of $30 million to $40 million.

 

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