American Axle: Q3 Earnings Snapshot

DETROIT (AP) — DETROIT (AP) — American Axle & Manufacturing Holdings Inc. (AXL) on Friday reported a third-quarter loss of $17.4 million, after reporting a profit in the same period a year earlier.

The Detroit-based company said it had a loss of 15 cents per share. Losses, adjusted for one-time gains and costs, were 11 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

The maker of auto parts posted revenue of $1.55 billion in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $1.48 billion.

American Axle expects full-year revenue in the range of $6 billion to $6.1 billion.

American Axle shares have dropped 17% since the beginning of the year. The stock has dropped 29% in the last 12 months.

_____

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