American Axle & Manufacturing Reports Q2 Earnings Miss

American Axle & Manufacturing Holdings, Inc. 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.

"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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