Planned Expansions, Price Hikes, Financial Results, and Offer Closing Details - Analyst Notes on ArcelorMittal, AK Steel, Worthington, SSI and Compass Minerals
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NEW YORK, July 1, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding ArcelorMittal SA (NYSE: MT), AK Steel Holding Corporation (NYSE: AKS), Worthington Industries, Inc. (NYSE: WOR), Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) and Compass Minerals International, Inc. (NYSE: CMP). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/4312-100free.
ArcelorMittal SA Analyst Notes
On June 26, 2014, ArcelorMittal SA (ArcelorMittal) announced that a Company plant in Trévoux in Rhone-Alpes, France, will install two innovative production tools to produce customized heat exchangers for the heating, ventilation, and air conditioning (HVAC) industry. The investment of €450,000 is expected to help expand and strengthen the plant's activities by supplying added-value solutions to its customers. "This investment, which is critical for the steel sheet market, further strengthens our plant's activities. Thanks to the investment, we are evolving from being a metal parts supplier to a solutions provider. The Trévoux site will now become a specialist in producing and assembling heat exchangers to meet our customers' needs, thanks to the innovative production processes now in place," said Frederic Mann, Trévoux Plant Director. The full analyst notes on ArcelorMittal are available to download free of charge at:
http://www.analystsreview.com/Jul-01-2014/MT/report.pdf
AK Steel Holding Corporation Analyst Notes
On June 24, 2014, AK Steel Holding Corporation (AK Steel) announced that it will increase base prices for all of the Company's stainless steel products, effective with shipments on July 6, 2014. According to AK Steel, all automotive grades will be increased by $40 per ton, and all non-automotive grades will be increased by $200 to $300 per ton, depending on the product. The full analyst notes on AK Steel are available to download free of charge at:
http://www.analystsreview.com/Jul-01-2014/AKS/report.pdf
Worthington Industries, Inc. Analyst Notes
On June 26, 2014, Worthington Industries, Inc. (Worthington) reported financial results for Q4 FY 2014 and full-year FY 2014 (period ended May 31, 2014). During the quarter, the Company's net sales were up 26.6% YoY to $891.0 million; while full-year FY 2014 net sales were up 19.7% YoY to $3.1 billion. Quarterly net earnings stood at $33.2 million, or $0.47 per diluted share, compared to $33.5 million, or $0.46 per share, in Q4 FY 2013. Full-year net earnings came in at $151.3 million, or $2.11 per diluted share, compared to $136.4 million, or $1.91 per diluted share, in full-year FY 2013. "We had a great fiscal 2014 with the highest annual earnings per share in our Company's history," said John McConnell, Chairman and CEO of Worthington. "The fourth quarter results showed improvement over the prior year period with Steel Processing leading the way. Our transformation efforts continue to help that business deliver strong results as it nears the peak volumes we saw prior to the downturn." The full analyst notes on Worthington are available to download free of charge at:
http://www.analystsreview.com/Jul-01-2014/WOR/report.pdf
Schnitzer Steel Industries, Inc. Analyst Notes
On June 26, 2014, Schnitzer Steel Industries, Inc. (SSI) reported financial results for Q3 FY 2014 (period ended May 31, 2014). During the quarter, the Company's revenues came in at $637.8 million, a drop of 10.2% from the comparable year ago quarter. Providing further details on segment wise performance,Tamara Lundgren, President and CEO of SSI said, "In our Steel Manufacturing Business, our utilization rate was the highest it has been since 2008, reflecting strengthening demand. In our Auto Parts Business, retail sales rebounded after a harsh winter and car purchase volumes reached record levels. In our Metals Recycling Business, results reflected a significant adverse impact from average inventory accounting. However, overall sales volumes in MRB were steady with an increase in both export sales off the East Coast and to the domestic market versus the second quarter." Adjusted net income attributable to SSI for the reported quarter stood at $4 million, or $0.16 per diluted share, compared to $2 million, or $0.09 per diluted share, in Q3 FY 2013. The full analyst notes on SSI are available to download free of charge at:
http://www.analystsreview.com/Jul-01-2014/SCHN/report.pdf
Compass Minerals International, Inc. Analyst Notes
On June 23, 2014, Compass Minerals International, Inc. (Compass Minerals) announced the closing of its private placement offering of $250.0 million in aggregate principal amount of senior notes due 2024, bearing interest at a rate of 4.875% per year. The Company informed that the notes were sold at a price equal to 100% of their face value. Compass Minerals intends to use the net proceeds of the offering to fund the conditional notice of redemption issued on May 23, 2014, to purchase all of the Company's outstanding $100.0 million in aggregate principal amount 8% senior notes due 2019; and for general corporate purposes. The full analyst notes on Compass Minerals are available to download free of charge at:
http://www.analystsreview.com/Jul-01-2014/CMP/report.pdf
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