AK Steel Holding Corporation (NYSE: AKS) is having an overwhelmingly strong day in the market today, and for good reason. The company announced earnings, proving to have a much better quarter than expected. This led to excitement among investors, causing gains and prompting our partners at Trade Ideas to alert us to the movement. At the moment (9:49), AKS is trading at $6.62 per share after a gain of $0.59 per share or 9.87% thus far today.
AKS Reports Strong Earnings
As mentioned above, AK Steel is having an overwhelmingly strong start to the trading session this morning after reporting earnings for the second quarter. Here’s what we saw from the report…
- Revenue – In terms of revenue, AKS did incredibly well. During the quarter, analysts expected that the company would generate revenue in the amount of $1.46 billion. However, the company actually generated revenue in the amount of $1.56 billion. Not only did that beat estimates by $10 million, but it also proved to be a 4.7% year over year gain.
- Earnings – Earnings was another area where AKS definitely did not disappoint. During the quarter, analysts expected that the company would generate earnings in the amount of $0.12 per share. However, the company actually reported earnings in the amount of $0.19 per share.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on AKS. In particular, we’re interested in watching to see if the growth will continue. While shipments were down, the company was able to leverage pricing and bring the growth. We’re excited to see if this will continue. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!