AK Steel misses by $0.06, misses on revs
- Reports Q3 (Sep) loss of $0.02 per share, $0.06 worse than the Capital IQ Consensus of $0.04; revenues rose 2.8% year/year to $1.49 bln vs the $1.53 bln Capital IQ Consensus.
- 3Q17 flat-rolled steel shipments declined 2% to 1,368,600 tons from 1,397,900 tons in the third quarter a year ago, primarily as a result of softer automotive market demand.
- Average selling price per flat-rolled steel ton increased 2% to $1,021 from $1,001 in the same quarter a year ago, primarily as a result of a higher average selling price on both contract and spot market sales and higher surcharges on specialty steels
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