AK Steel Holding Corp AKS reported downbeat second-quarter earnings.
AK Steel reported its quarterly earnings at $33.1 million, or $0.30 per share, up from $26.7 million, or $0.24 per share, in the year-earlier period. Its revenue rose 12% y/y to $1.80 billion. Excluding charges related to state law tax changes, AK Steel's net income came in at $0.32 per share. Analysts were expecting earnings of $0.49 per share on revenue of $1.81 billion.
AK Steel shares dropped 6.19% to $14.56 in pre-market trading.
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