AK Steel Reports Best Annual Performance Since 2008

AK Steel claimed its best quarter in three and a half years and its best annual performance since 2008. AK Steel reported shipments of 2,010,200 tons in fourth quarter 2014 compared to 1.42 million tons in Q4 2013. The increase exceeded analyst expectations and was due primarily to strong demand from automotive and the addition of shipments from Dearborn Works. Sales totaled $2 billion with an average selling price of $987 per ton.

Net income was $13.5 million compared to $35.2 million in fourth quarter 2013. Income in Q4 was negatively impacted by $7.1 million in expenses related to acquisition of Severstal Dearborn and $5.5 million associated with pension and post retirement charges. The planned outage at the Ashland Works blast furnace incurred $31 million in costs and capital investments of $18 million.