Steel Mills
October 27, 2015
Cost Savings Lead to Profitability for AK Steel
Written by Sandy Williams
“Cost is the enemy of profitability,” said AK Steel CEO James Wainscott in the company’s third quarter earnings call. AK Steel proved it can cut costs, trimming $58 million at Dearborn Works and $60 million for the company as a whole for 2015, and delivering a positive net income of $6.7 million in third quarter.
Net sales were $1.71 billion on shipments of 1,871,200 tons, up from net sales of $1.69 billion on shipments of 1,811,700 tons for the second quarter of 2015. Average selling price of $912 per ton was 2 percent lower than Q2.
