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American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) reported second-quarter earnings of 55 cents per share, which missed the analyst consensus estimate of 58 cents by 5.17%. This is a 55.28% decrease over earnings of $1.23 per share from the same period last year.
The company reported quarterly sales of $1.704 billion, which missed the analyst consensus estimate of $1.78 billion by 4.27%. This is a 10.36% decrease over sales of $1.901 billion the same period last year.
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"In the second-quarter of 2019, AAM continued to improve its operational performance with sequential quarterly margin increases and strong free cash flow generation,” said American Axle & Manufacturing CEO David Dauch. “However, we exited the second-quarter with softer sales than anticipated and we expect this to continue to impact us in the second half of 2019."
American Axle & Manufacturing shares were trading down 4.26% at $10.55 in Friday’s pre-market session. The stock has a 52-week high of $19.34 and a 52-week low of $9.96.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.