AK Steel Plant Honored For Safety - Analyst Blog
04 6월 2012 - 8:30PM
Zacks
AK Steel Holding Corporation (AKS)
recently announced that a recognition has been bestowed on the
Walbridge, Ohio plant of its subsidiary AK Tube LLC by the Ohio
Bureau of Workers' Compensation, Division of Safety and Hygiene.
The plant has been acknowledged for its excellent safety
performance.
Last year, operations at the
Walbridge plant were carried out without any lost time injuries or
illnesses, an achievement which made the plant eminently suitable
for the “100% Award for Safety”. The award was conferred on the
plant for the fourth time and it also received another special
award for safety for operating 808,581 hours without a lost-time
injury between March 17, 2009, and December 31, 2011.
Additionally, leading trade
organization Fabricators and Manufacturers Association,
International (FMA) granted the “Safety Award of Merit” to the
plant this year.
AK Steel, a leading producer of
flat-rolled carbon, stainless, electrical steel and tubular
products, released its first-quarter 2012 results in April 2012.
Net loss of 11 cents a share for the quarter matched the Zacks
Consensus Estimate. Revenues dipped 4.6% year over year to $1,508.7
million, trailing the Zacks Consensus Estimate.
Shipments fell 6.8% year over year
while average selling price moved up 3% in the quarter. Selling
price benefited from a better product mix, higher contract sales
and increased prices for certain products. AK Steel also witnessed
a slow but steady improvement in underlying market conditions
during the quarter.
Moving ahead, the company expects
to post a profit in the second quarter. It remains optimistic that
business conditions will improve in the quarter on the back of
increased strength in the automotive market. The company further
anticipates that shipments will be higher in the second quarter and
expects raw material costs to be lower sequentially.
However, the current economic
scenario is still grim for AK Steel which is affected by weak
construction and housing sectors. The company is also exposed to
macroeconomic uncertainties, stemming from the sovereign debt
crisis in Europe and sluggish growth in Asia. Moreover, electrical
steel prices remain under pressure in overseas markets given the
soft operating backdrop.
AK Steel, which competes with
Nucor Corporation (NUE), U.S. Steel
Corp. (X) and Steel Dynamics Inc. (STLD),
currently holds a short-term Zacks #3 Rank (Hold). We have a
long-term Neutral recommendation on the stock.
AK STEEL HLDG (AKS): Free Stock Analysis Report
NUCOR CORP (NUE): Free Stock Analysis Report
STEEL DYNAMICS (STLD): Free Stock Analysis Report
UTD STATES STL (X): Free Stock Analysis Report
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