Steel Mills
July 26, 2016
AK Steel Says Lower Imports and Inventories Helping Pricing and Demand
Written by Sandy Williams
AK Steel reported net income of $17.3 million for second quarter 2016 compared to a net loss of $64.0 million a year ago.
Net sales were 1.49 billion a decrease from $1.69 billion in in Q2 2015 as a result of lower automotive contract pricing as well as a decrease in shipments. Shipments totaled 1,555,500 tons, a decline of 14 percent year-over-year. Despite lower shipments, adjusted EIBTDA more than doubled and adjusted EBITDA margin increased to 6.7 percent from 2.8 percent.
