AK Steel (AKS) Stock Lower Today After Third Quarter Earnings Results

NEW YORK (TheStreet) -- Shares of AK Steel Holding Corp. (AKS) are down 11.17% to $6.60 after reporting a 2014 third quarter net loss of $7.2 million, or 5 cents per share, compared to a net loss of $31.7 million, or 23 cents per share a year ago.

The Ohio-based steel company reported net sales for the third quarter of $1.59 billion on shipments of 1,462,900 tons, compared to net sales of $1.33 billion on shipments of 1,242,400 tons for the year-ago third quarter.

Analysts forecast 9 cents of earnings per share and revenue of $1.49 billion, according to the average of analyst estimates compiled by Yahoo Finance.

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The third quarter results reflect one-time costs associated with the acquisition of Severstal Dearborn, LLC ("Dearborn"), which the company completed on September 16. Acquisition-related expenses totaled $23.6 million.

The company said that its average selling price for the third quarter was $1,089 per ton, down slightly from the second quarter. The minor decrease from the second quarter was due to a change in product mix related to the addition of Dearborn.

Separately, 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 few notable 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 weak operating cash flow and poor profit margins."

You can view the full analysis from the report here: AKS Ratings Report

AKS Chart AKS data by YCharts

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