AK Steel expects smaller loss on higher selling price, lower costs
March 22 (Reuters) - AK Steel Holding Corp said it expects net loss in the first quarter to fall from the fourth quarter due to higher selling prices and lower raw material costs.
The steelmaker expects the loss in the range of 9 cents to 13 cents per share. It reported a loss of $1.89 per share in the preceding quarter.
Analysts on average were expecting a loss of 9 cents per share in the quarter ending March 31, according to Thomson Reuters I/B/E/S.
The company expects its average selling price to increase by about 5 percent in the current quarter.
AK Steel expects to record a non-cash tax benefit of $4 million to $5 million in the quarter.
- Housing, jobs data weaken, but overall economic picture still upbeat
- Last-minute Obamacare exemption for those with canceled plans
- UPDATE 6-Target cyber breach hits 40 mln payment cards at holiday peak
- New York Mayor-elect's reputation for lateness parodied on Twitter
- Target cyber breach hits 40 million payment cards at holiday peak |