American Axle: Q1 Earnings Snapshot

DETROIT (AP) _ American Axle & Manufacturing Holdings Inc. (AXL) on Friday reported first-quarter net income of $1 million.

On a per-share basis, the Detroit-based company said it had net income of 1 cent. Earnings, adjusted for one-time gains and costs, were 19 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.

The maker of auto parts posted revenue of $1.44 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $1.33 billion.

American Axle expects full-year revenue in the range of $5.6 billion to $5.8 billion.

American Axle shares have declined 24% since the beginning of the year. The stock has decreased 27% 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

Categories: Business News