American Axle: 4Q Earnings Snapshot
DETROIT (AP) _ American Axle & Manufacturing Holdings Inc. (AXL) on Friday reported a loss of $454.4 million in its fourth quarter.
On a per-share basis, the Detroit-based company said it had a loss of $4.04. Earnings, adjusted for asset impairment costs and non-recurring costs, were 13 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The maker of auto parts posted revenue of $1.43 billion in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $1.49 billion.
For the year, the company reported that its loss widened to $484.5 million, or $4.31 per share. Revenue was reported as $6.53 billion.
American Axle expects full-year revenue in the range of $5.8 billion to $6 billion.
American Axle shares have decreased 5% since the beginning of the year. The stock has decreased 29% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXL at https://www.zacks.com/ap/AXL