AK Steel Holding Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Provides Earnings Guidance for the Fiscal Year 2016
For the year, the company reported net sales of $6,692.9 against $6,505.7 a year ago. Income from operations was $361,429,000 against $544,208,000 a year ago. Operating profit was $86.5 million against $139.4 million a year ago. Loss before income taxes was $383.0 million against $26.4 million a year ago. Net loss was $447.9 million against $34.1 million a year ago. Net loss attributable to company was $510.7 million against $96.9 million a year ago. Net loss per share diluted attributable to company was $2.87 against $0.65 per share a year ago. Net cash flows from operating activities were $200.3 million against net cash outflows from operating activities of $322.8 million a year ago. Capital investments were $97.3 million against $79.7 million a year ago. EBITDA was $13.1 million against $328.6 million a year ago. Adjusted EBITDA was $393.2 million against $280.2 million a year ago. Adjusted net loss attributable to company was $53.5 million or $0.30 per share diluted against $59.7 million or $0.40 per share diluted a year ago.
For 2016, the company anticipates capital expenditures to be in the range of $120 million to $140 million, including approximately $40 million of related growth investments.