Automotive Supplier American Axle's Stock Is Gearing Up: Here's Why
Portfolio Pulse from Nabaparna Bhattacharya
American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) reported Q3 sales of $1.552 billion, beating the analyst consensus. However, the company's adjusted loss per share was $(0.11), missing the analyst consensus. The UAW work stoppage impacted sales by approximately $15 million and adjusted EPS by $0.03. The company has narrowed its FY23 sales guidance to $6.0 billion-$6.1 billion and expects Adjusted EBITDA of $660 million-$685 million.
November 03, 2023 | 4:24 pm
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NEUTRAL IMPACT
American Axle's Q3 results were mixed with sales beating expectations but adjusted loss per share missing analyst consensus. The UAW work stoppage had a negative impact on sales and EPS. The company has revised its FY23 guidance.
American Axle's Q3 sales beat analyst expectations, which is positive for the stock. However, the company's adjusted loss per share missed the consensus, which is negative. The UAW work stoppage had a negative impact on the company's sales and EPS. The company has also revised its FY23 guidance, which could lead to uncertainty among investors. Therefore, the overall short-term impact on the stock is neutral.
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