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AK Steel: Will Its Q3 Earnings Turn Things Around?

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Oct. 22 2018, Published 7:03 a.m. ET

AK Steel

The third-quarter earnings season is in full swing. Steel Dynamics and Nucor (NUE) have already released their third-quarter earnings. While Steel Dynamics managed to beat its consensus earnings estimates, Nucor’s third-quarter earnings fell short of the expectations. AK Steel (AKS) is scheduled to release its third-quarter earnings on October 25. U.S. Steel Corporation (X) and ArcelorMittal (MT) are scheduled to release their third-quarter earnings on November 1.

In this series, we’ll discuss analysts’ projections for AK Steel’s third-quarter earnings. We’ll also look at the key updates that markets might watch in the company’s third-quarter earnings call.

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Price action

AK Steel stock is having a dismal run in 2018. The stock has lost 21.6% of its market capitalization based the closing prices on October 19. The broader steel space has been out of favor with markets. Cleveland-Cliffs (CLF) has been an exception. The stock is trading with a year-to-date gain of 53.3%. AK Steel has seen a selling spree after its earnings release for the past three quarters. After the company’s second-quarter earnings release, AK Steel fell sharply. The company missed the consensus earnings estimates and gave a subdued third-quarter guidance.

The third-quarter earnings would be an opportunity for AK Steel to calm investors’ nerves. Next, we’ll discuss analysts’ projections for AK Steel’s third-quarter earnings.

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