AK Steel Holding Corporation (NYSE:AKS) reported that it will make changes in spot market base prices on upside for all carbon flat-rolled steel offerings by at least $30 per ton. The prices will become effective immediately and will be applicable on new orders.
During the Q2 2017 earning conference call, Roger K. Newport of AK Steel Holding reported that they continue to showcase robust performance across the firm during the Q2 2017. On a sequential basis, the performance in the reported quarter more or less like that of first quarter in respect of environmental, operations, financial performance, quality and safety. For Q 2 2017, net income came at $61.2 million, while adjusted EBITDA was $142 million.
AK Steel reported that the second quarter numbers highlight the many benefits of company’s margin enhancement plans. They remain committed to the strategy developed and communication 18 months earlier. The company continue to invest in its facilities to warrant the long-term reliability of their equipment while focusing on the development of new, innovative offerings so as to fulfill the future needs of customers. It is evident that AK Steel customers appreciate the product quality, delivery, and technical service and support that the team delivers to them on regular basis.
As an example of the strong performance, AK Steel was honored by Fiat Chrysler Automotive U.S. by being selected their Raw Material Supplier of the Year. It was the only steel firm in North America to get this distinguished award. The company is extremely delighted to get recognition for their unwavering commitment to product quality, innovation, delivery, cost and FCA’s foundational principles. This recognition highlights the degree to which AK Steel cherish customer associations in the automotive as well as other market which they serve globally.
In the last trading session, the stock price of AK Steel gained more than 2% to close the day at $5.98.