American Axle: Q2 Earnings Snapshot

Associated Press Finance
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DETROIT (AP) — DETROIT (AP) — American Axle & Manufacturing Holdings Inc. (AXL) on Friday reported second-quarter net income of $8 million.

The Detroit-based company said it had profit of 7 cents per share. Earnings, adjusted for restructuring costs, were 12 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The maker of auto parts posted revenue of $1.57 billion in the period, meeting Street forecasts.

American Axle expects full-year revenue in the range of $5.95 billion to $6.25 billion.

American Axle shares have risen 17% since the beginning of the year. The stock has climbed 6% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXL at https://www.zacks.com/ap/AXL

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