AK Steel Holding Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported net sales of $1,542.7 million against $1,997.6 million a year ago. Operating loss was $34.6 million against operating profit of $74.5 million a year ago. Loss before income taxes was $106.5 million against income before income taxes of $29.9 a year ago. Net loss was $131.9 million against net income of $29.7 million a year ago. Net loss attributable to company was $147.1 million against net income attributable to company of $13.5 million a year ago. Net loss per share diluted attributable to company was $0.83 against net income per share diluted attributable to company of $0.07 per share a year ago. LBITDA was $14.1 million against EBITDA of $130.4 million a year ago. Adjusted EBITDA was $168.1 million against $117.0 million a year ago. Adjusted net income attributable to company was $53.8 million or $0.30 per share diluted against $26.1 million or $0.14 per share diluted a year ago. The decrease in sales was driven by a reduction in shipments to the carbon steel spot market as well as lower spot market pricing resulting from continued high levels of what believe are unfairly traded imports. The sharp reduction in spot market pricing also resulted in sales that were 23% lower in the fourth quarter a year ago. The EBITDA increase in the recent fourth quarter compared to the third quarter of 2015 and the fourth quarter a year ago was due in part to the effect of lower raw material costs, combined with strong demand from automotive customers.

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.