The consensus EPS trend allows the investor to understand the recent direction of earnings estimates. The company had revenue of $1519.00 million for the quarter, compared to analysts expectations of $1508.29 million.
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Constitution Pipeline Company, LLC declared recently that it remains steadfastly committed to pursuing the federally-approved energy infrastructure project, despite the recent decision by the New York State Department of Environmental Conservation (NYSDEC) to deny the Section 401 Water Quality Certification for the Constitution Pipeline Project.
(NYSE:CVA)’s current price is trading higher+4.17% to its SMA200 of $15.58 and down-2.25% to its SMA50 of $16.60.
The steel producer posted revenue of $1.52 billion in the period, which also topped Street forecasts.
Flat-rolled steel capability: 66 percent (57 percent in 4Q, 60 percent in year-ago). The low volume of shipments was partly offset by a 7% increase in higher value coated products sold to the auto sector.
First quarter results for our Flat-Rolled segment declined as contrast to the fourth quarter mainly because of decreases in average realized prices for our contract business and slightly lower average spot prices contrast to the fourth quarter.
Shipments of 1,658,200 tons in the first quarter of 2016 were 5 percent lower than past year, reflecting the company’s strategic decision to reduce exposure to commodity products. Total debt was essentially flat at $3,121 million. Lastly, the Commonwealth of Independent States (CIS) produced 25 million tons of crude steel in the first three months of 2016, a 0.4% dip over the same period of 2015. The first quarter of 2016 included a LIFO credit of $12.3 million, compared to a LIFO credit of $17.1 million in the first quarter of 2015. A decrease in average realized euro-based prices and higher fix and maintenance costs, as some outage work was completed, were offset by lower raw materials, energy and operating costs. For the quarter ended 2015-12-31, this number was $359 millions. On March 31, 2015, the company had cash and cash equivalents of $1.266 billion. “These rulings have been one of the catalysts for improving conditions domestically, and the recent increases in prices for flat-rolled products will begin to be reflected in our results in the second quarter”.
The crude steel capacity utilization ratio was 70.5% during March 2016, as reported by these 66 countries. Considering the last day close, the stock’s price is $-6.01 off 52-week high of $22.85 and $4.36 away 52-week low of $12.48.
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AK Steel continues to be affected by global overcapacity in steel and cheap products from China. In this regard, AK Steel also announced the price increment on April 18, 2016. The company’s market cap is $2.71 billion.
