American Axle (AXL) Q2 Earnings Miss Estimates, Down Y/Y
Zacks Investment Research | Aug 04, 2019 09:33PM ET
American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) posted adjusted earnings of 55 cents per share in the second quarter of 2019, missing the Zacks Consensus Estimate of 59 cents. In second-quarter 2018, adjusted earnings were $1.23.
In the quarter under review, the company reported net income of $52.7 million compared with $151.3 million a year ago.
Sales declined to $1.70 billion from the year-ago figure of $1.91 billion. The top line missed the Zacks Consensus Estimate of $1.8 billion.
American Axle’s SG&A (selling, general & administrative) expenses were $91.3 million for second-quarter 2019 in comparison with $95 million in the prior-year quarter.
Gross profit moved down to $248.3 million in second-quarter 2019 from $331.4 million a year ago. Operating income declined to $119.9 million from $190.3 million.
American Axle & Manufacturing Holdings, Inc. Price, Consensus and EPS Surprise
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