American Axle: 4Q Earnings Snapshot
DETROIT (AP) _ American Axle & Manufacturing Holdings Inc. (AXL) on Friday reported a fourth-quarter loss of $361.8 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Detroit-based company said it had a loss of $3.24. Earnings, adjusted for one-time gains and costs, were 45 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The maker of auto parts posted revenue of $1.69 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $1.68 billion.
For the year, the company reported a loss of $57.5 million, or 51 cents per share, swinging to a loss in the period. Revenue was reported as $7.27 billion.
American Axle expects full-year revenue in the range of $7.3 billion to $7.4 billion.
American Axle shares have risen 32 percent since the beginning of the year. The stock has decreased nearly 7 percent in the last 12 months.