AK Steel’s earnings
The fourth-quarter earnings season is in full swing. Steel Dynamics (STLD) has already released its fourth-quarter earnings results. The company managed to post better-than-expected earnings, but it missed consensus revenue estimates.
Steel Dynamics’ 2018 earnings surged to a record high as the Section 232 tariffs propelled US steel prices last year.
AK Steel (AKS) is scheduled to report its fourth-quarter earnings results on January 28 followed by Nucor’s (NUE) earnings release on January 29. U.S. Steel Corporation (X) is scheduled to release its fourth-quarter earnings results on January 30. ArcelorMittal (MT), the largest steelmaker in the world, is scheduled to release its earnings results on February 7.
In this series, we’ll see what analysts are expecting for AK Steel’s fourth-quarter earnings. AK Steel has seen selling sprees after its earnings releases for the last five consecutive quarters. Last year was particularly depressing for AK Steel. The stock missed its earnings estimates in the second and third quarters. To add to these earnings misses, the company’s guidance on its average selling price spooked investors.
Over the last few quarters, we’ve seen optimism ahead of AK Steel’s earnings releases, which have turned out to be disappointing. The company’s management’s commentary on automotive contracts has investors especially worried.
Could the fourth quarter be any better for AK Steel? We’ll explore this prospect in detail in the coming articles.