American Axle: 2Q Earnings Snapshot
DETROIT (AP) _ American Axle & Manufacturing Holdings Inc. (AXL) on Friday reported second-quarter net income of $151.1 million.
On a per-share basis, the Detroit-based company said it had net income of $1.30. Earnings, adjusted for one-time gains and costs, came to $1.23 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.
The maker of auto parts posted revenue of $1.9 billion in the period.
American Axle expects full-year revenue in the range of $7.2 billion to $7.25 billion.
American Axle shares have decreased almost 6 percent since the beginning of the year. The stock has climbed 11 percent in the last 12 months.