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Finally, AK Steel (AKS) managed to come up with decent news in its second-quarter report. The company reported revenue of $1.68 billion and net income of $66.8 million, or $0.21 per share, materially beating earnings estimates and slightly missing on revenue. The key to AK Steel’s success was the absence of special charges – Ashland Works closure hit Q1 2019 report, and nothing of this magnitude happened in Q2 2019. The stock reacted immediately:
The company also updated its annual guidance based on the change in the hot-rolled carbon spot market pricing