American Axle & Manufacturing Beats On Q2 Earnings, Plans Strong Technological Base Of Electric Product Portfolio
Portfolio Pulse from Nabaparna Bhattacharya
American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) reported Q2 FY23 sales growth of 9.2% YoY to $1.571 billion, slightly beating the consensus of $1.565 billion. Adjusted EPS of $0.12 beat the analyst consensus of $0.08. The company reiterated its FY23 sales guidance of $5.95 billion - $6.25 billion. Despite the positive earnings report, AXL shares are trading lower by 8.8% at $8.37.
August 04, 2023 | 3:51 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Despite beating Q2 FY23 earnings estimates, American Axle & Manufacturing's stock is trading lower.
Even though American Axle & Manufacturing reported better than expected Q2 FY23 earnings, the stock price is down. This could be due to other market factors or investor sentiment not reflected in the earnings report.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100