EmailAK Steel (AKS $5.16 -0.16) expected total shipments of approximately 1.35 million tons in the 2012 second quarter, which is slightly higher than the first quarter of 2012. The co said it expects that its average per-ton selling price for the second quarter of 2012 will be about the same as in the first quarter of 2012. The company also said that it expects to benefit from higher operating rates and lower raw material costs in the second quarter of 2012 compared to the first quarter of 2012.
Taking all of these factors into account, and subject to the possibility of recording a valuation allowance for its deferred tax assets, the company issued guidance for the second quarter with EPS of $0.04-0.06, may not be comparable to the $0.15 Capital IQ consensus. Due to increased uncertainty and volatility with respect to near-term economic conditions in the US and in other markets served by the co , including a recent deterioration in spot market pricing, the company cannot provide reliable guidance at this time for the co's results for the remainder of 2012.
