American Axle & Manufacturing Holdings Earnings: Here’s Why the Stock is Up Now
American Axle & Manufacturing Holdings Inc. (NYSE:AXL) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.16%.
American Axle & Manufacturing Holdings Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 83.61% to $0.10 in the quarter versus EPS of $0.61 in the year-earlier quarter.
Revenue: Rose 0.55% to $755.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: American Axle & Manufacturing Holdings Inc. reported adjusted EPS income of $0.10 per share. By that measure, the company missed the mean analyst estimate of $0.16. It beat the average revenue estimate of $750.01 million.
Quoting Management: “AAM`s financial results in the first quarter of 2013 reflect our commitment to deliver improved profitability and launch performance globally,” said AAM`s President and Chief Executive Officer, David C. Dauch. “While we continue to take actions to improve our operating and financial performance, we remain focused on flawlessly launching several major programs in 2013. These include products supporting GM`s next-generation full-size pickup truck and SUV program, the RAM Heavy Duty pickup truck program, as well as AAM`s EcoTracTM Disconnecting All Wheel Drive system.”
Key Stats (on next page)…
Revenue increased 2.57% from $736.7 million in the previous quarter. EPS increased to $0.10 in the quarter versus EPS of $-0.02 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.50 to a profit $0.32. For the current year, the average estimate has moved down from a profit of $1.92 to a profit of $1.69 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)