AK Steel Beats Challenging Market to Post Robust Results

West Chester, Ohio-based AK Steel reported robust operations despite challenging market conditions. This is evident from its financial results for the fourth quarter and full-year 2019.

In Q4 ’19, the company posted net loss of $53.9 million, or $0.17 per diluted share. The adjusted net loss for the quarter totalled $35.1 million, or $0.11 per diluted share. AK Steel reported adjusted EBITDA of $47.2 million on sales of $1.4 billion. The company completed closure of its Ashland Works coating line, as planned.

For the full year 2019, the company reported net income of $11.2 million, or $0.04 per diluted share. This compares with net income of $186.0 million, or $0.59 per diluted share, for 2018. The adjusted net income registered notable decline from $200.5 million, or $0.64 per diluted share, for 2018 to $107.4 million, or $0.34 per diluted share, for 2019. The adjusted EBITDA for 2019 stood at $446.5 million.

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