American Axle Boosts FY22 Sales Outlook; Q2 Results Top Estimates

RTTNews | 393 days ago
Stocktwits
American Axle Boosts FY22 Sales Outlook; Q2 Results Top Estimates

(RTTNews) - While reporting financial results for the second quarter on Friday, American Axle & Manufacturing Holdings, Inc. or AAM (AXL) raised its sales guidance for the full-year 2022.

For fiscal 2022, the company now projects sales in the range of $5.75 billion to $5.958 billion, up from the prior guidance range of $5.6 billion to $5.8 billion.

On average, eight analysts polled by Thomson Reuters expect the company to report sales of $5.76 billion for the year.

For the second quarter, net income grew to $22.9 million or $0.19 per share from $16.0 million or $0.13 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.22 per share, compared to $0.29 per share in the year-ago quarter.

Net sales for the quarter increased to $1.44 billion from $1.28 billion in the same quarter last year.

The Street was looking for earnings of $0.10 per share on sales of $1.37 billion for the quarter. Analysts' estimates typically exclude special items.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: AXL
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UK Economy Contracts Unexpectedly On Weaker Production

UK Economy Contracts Unexpectedly On Weaker Production

The UK economy logged an unexpected contraction at the start of the year on a sharp fall in production, official data revealed on Friday. Gross domestic product shrank 0.1 percent on a monthly basis in January, following a growth of 0.4 percent in December, the Office for National Statistics reported. GDP was expected to grow 0.1 percent.
RTTNews | 4h 56min ago
Asian Shares Advance As US Shutdown Worries Ease

Asian Shares Advance As US Shutdown Worries Ease

Asian stocks ended mostly higher on Friday after U.S. Senate Minority Leader Chuck Schumer said he plans to vote for a Republican bill to fund the government through September, helping ease worries about a potential federal government shutdown.
RTTNews | 5h 3min ago
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