NEW YORK (TheStreet) -- Shares of AK Steel Holding Corp. (AKS) are up 2.22% to $8.97 to hit a two-and-a-half year high today following an unexpected second quarter profit and an upbeat full year outlook, helped by higher steel shipments than the first quarter of 2014.
The company reported adjusted earnings for the second quarter of 2 cents per share, reversing from a 30 cent loss in the second quarter a year ago, and topping analyst estimates of a 4 cent loss.
Second quarter revenue climbed 9.3% to $1.53 billion, better than the $1.4 billion in the same quarter of 2013, and beating the $1.51 billion consensus estimate.
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