Shares of ASTL are down 2.00% to $6.86 a share after-hours on Thursday.
The company expressed satisfaction with its operations in Q2 as they aligned with their expectations, CEO Michael Garcia said in a statement.
“We are closely monitoring the evolving United Auto Workers union’s work stoppages at certain North American auto manufacturing facilities and the impact they are having on steel markets, including lower-than-expected realized pricing for recent steel shipments. In the meantime, we expect to perform our normal annual steel vessel reline, along with other planned seasonal maintenance, during the fiscal third quarter,” he added.
