AK Steel Holding Corp. Tuesday reported a loss of $13.6 million in its first quarter. The West Chester-based company said it had a loss of eight cents per share.
The results exceeded Wall Street expectations and shares in AK rose as a result.
The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.
The steel producer posted revenues of $1.52 billion in the period, which also topped expectations. Four analysts surveyed by Zacks expected $1.48 billion.
The Fortune 500 company’s shares closed at $4.72, up 18 cents or 4 percent
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