AK Steel Holding Corporation (NYSE: AKS) is having an overwhelmingly rough start to the trading session this morning, and for good reason. The company reported its earnings for the third quarter, falling short of analyst expectations. Of course, this led to fear among investors, sending the stock downward and prompting an alert from our partners at Trade Ideas. Below, we’ll talk about what we saw from earnings, how the stock reacted to the news, and what we’ll be watching for with regard to AKS ahead.
What We Saw From AKS Earnings
As mentioned above, AK Steel Holding Corp. is having an incredibly rough start to the trading session this morning after the company reported earnings that fell short of analyst expectations. Here’s what we saw from the report:
- Earnings Per Share – In terms of earnings per share, AKS missed the mark. During the third quarter, analysts expected that the company would generate earnings in the amount of $0.03 per share. However, the company missed expectations by 33.3%, generating earnings for the quarter in the amount of $0.02 per share.
- Revenue – Unfortunately, revenue didn’t prove to be any better for the company, missing expectations yet again. During the quarter, analysts expected that the company would generate revenue in the amount of $1.5 billion. However, the company actually reported revenue in the amount of $1.49 billion, missing expectations once again.
How The Stock Reacted To The News
As you could imagine, AK Steel Holding didn’t have a very positive reaction to earnings. After all, with a miss on the books, investor fears hit hard, sending the stock spiraling downward. Currently (9:35), AKS is trading at $5.22 per share after a loss of $0.63 per share (10.77%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on AKS. In particular, we’re interested in following the company to see how they come back from the earnings miss. We’ll also be following the steel industry as a whole to get an idea of what market-wide benefits or issues the company will be facing in the quarter ahead. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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