Shares of AK Steel Corp. ran up 2.3% in premarket trade Monday, after the steelmaker reported first-quarter earnings and sales that beat expectations, and provided an upbeat outlook. Net income fell to $28.7 million, or 9 cents a share, from $84.4 million, or 26 cents a share, in the same period a year ago. The FactSet consensus for earnings per share was 1 cent. Revenue rose to $1.66 billion from $1.53 billion, above the FactSet consensus of $1.57 billion. Chief Executive Roger Newport attributed the results to a “favorable pricing environment” and “solid demand” across most of its end markets, including automotive. The company said it expects market conditions will strengthen in the second quarter, as carbon, stainless steel and tubular and stamping products should continue to benefit from the strength in the automotive market. “The high level of imports, particularly the ongoing surge of foreign electrical steel, remains a challenge and we will continue to work proactively with the Trump Administration to ensure fair and appropriate trade policies,” Newport said. The stock has tumbled 16.1% year to date through Friday, while the S&P 500 has eased 0.1%.