AK Steel Holding (NYSE: AKS ) reported earnings on Oct. 23. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), AK Steel Holding met expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP loss per share expanded.
Margins contracted across the board.
AK Steel Holding logged revenue of $1.46 billion. The 14 analysts polled by S&P Capital IQ hoped for revenue of $1.47 billion on the same basis. GAAP reported sales were 7.7% lower than the prior-year quarter's $1.59 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.25. The 11 earnings estimates compiled by S&P Capital IQ forecast -$0.37 per share. GAAP EPS were -$0.55 for Q3 versus -$0.03 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 5.4%, 170 basis points worse than the prior-year quarter. Operating margin was -0.8%, 150 basis points worse than the prior-year quarter. Net margin was -4.2%, 400 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.45 billion. On the bottom line, the average EPS estimate is -$0.08.
Next year's average estimate for revenue is $6.01 billion. The average EPS estimate is -$0.42.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 842 members out of 931 rating the stock outperform, and 89 members rating it underperform. Among 187 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 164 give AK Steel Holding a green thumbs-up, and 23 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on AK Steel Holding is hold, with an average price target of $6.44.
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