American Axle's (AXL) Q4 Earnings Trump Estimates, Down Y/Y
Zacks Investment Research | Feb 17, 2020 08:04PM ET
American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) reported mixed results for fourth-quarter 2019, wherein earnings topped the Zacks Consensus Estimate but revenues lagged the same. While the UAW-General Motors (NYSE:GM) strike affected the company’s performance, better-than-expected EBITDA in the Driveline and Metal Forming segments led to the outperformance.
The Detroit-based global automotive parts supplier posted adjusted earnings of 13 cents per share, topping the Zacks Consensus Estimate of 1 cent. The bottom-line figure, however, slumped 71.1%, year on year. The company reported revenues of $1,430 million, missing the Zacks Consensus Estimate of $1,492 million. The revenue number also came in lower than the year-ago figure of $1,694 million.
American Axle & Manufacturing Holdings, Inc. Price, Consensus and EPS Surprise
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