NEW YORK (TheStreet) -- AK Steel (AKS) - Get Report shares are up 11.11% to $2.80 in early market trading after the steel manufacturer released its second quarter financial results today.

The company reported a second quarter net loss of $64 million during the period, or a loss of 36 cents per share on revenue of $1.69 billion.

The net loss can be attributed to steel prices that have fallen significantly as Chinese exports have increased recently.

The company's totals still managed to top analysts' expectations of a 37 cent per share loss on revenue of $1.67 billion.

"Continued strength in the automotive market contributed to an overall increase in automotive market and total shipments quarter-over-quarter for the company. Unfortunately, however, continued high levels of what we believe are unfairly traded imports significantly impacted selling prices in the carbon steel spot market, which negatively impacted the company's results," said CEO James L. Wainscott.

TheStreet Ratings team rates AK STEEL HOLDING CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate AK STEEL HOLDING CORP (AKS) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, poor profit margins and generally disappointing historical performance in the stock itself."

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