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AK Steel Reports 2Q Loss

WEST CHESTER, Ohio (AP) — AK Steel Holding Corp. on Tuesday reported a loss of $64 million in its second quarter.

The West Chester, Ohio-based company said it had a loss of 36 cents per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 37 cents per share.

The steel producer posted revenue of $1.69 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $1.67 billion.

The company’s shares closed at $2.52. A year ago, they were trading at $8.99.

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