In its fourth-quarter earnings report the steel producer posted earnings of 9 cents a share, which beats the Capital Consensus Estimate of 5 cents a share by 4 cents. AK Steel reported revenue that revenue rose 2.9% year-over-year in the quarter to $1.46 billion compared to the $1.45 billion consensus estimate.
AK Steel said the average selling price for its varying steel products in the fourth quarter of 2013 was $1,031 per ton. That's a 2% increase from the $1,011 per ton in the same quarter in 2012. It was a decrease of 4% from the $1,071 per ton in the third quarter of 2013. The lower average price is largely due to carbon steel spot prices, though it was partially offset by lower electrical steel prices.
The steel producer will announce a detailed guidance for it first quarter of 2014 in March.
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 a number of negative factors, 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 weak operating cash flow and poor profit margins."