AK Steel’s CEO on Q2 2016 results
USA, Butler County, OH: Roger K. Newport, AK Steel’s CEO and Director said that Q2 results showed significant improvement from a year ago.
“We have completed the first half of 2016, and it has been an exciting year so far for AK Steel, as we continue to execute our strategy. We reported our second quarter results that showed significant improvement from a year ago. The improvement in our performance led to net income of $17.3 million or $0.08 per share. This compares with a net loss of $64 million or a loss of $0.36 per share for the year-ago quarter. And we achieved adjusted EBITDA of $99.3 million, more than double for the same year-ago quarter.
Overall, I am very pleased with our continued progress in 2016. Our improved financial performance was a result of better market conditions and our margin enhancement activities, which encompasses what we buy, what we make, how we make it, where we make it, what we sell, and where we sell it.”, said the CEO.
Source: Seeking Alpha