Compared to Estimates, American Axle (AXL) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2023, American Axle & Manufacturing (AXL) reported revenue of $1.57 billion, up 9.2% over the same period last year. EPS came in at $0.12, compared to $0.22 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.57 billion, representing a surprise of +0.33%. The company delivered an EPS surprise of +50.00%, with the consensus EPS estimate being $0.08.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how American Axle performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Metal Forming: $634.20 million compared to the $529.16 million average estimate based on two analysts. The reported number represents a change of +23.7% year over year.
Net Sales- Driveline: $1.09 billion versus $1.03 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +4.4% change.
Adjusted EBITDA- Driveline: $152.10 million versus the two-analyst average estimate of $124.62 million.
Adjusted EBITDA- Metal Forming: $39.50 million versus $63.77 million estimated by two analysts on average.
View all Key Company Metrics for American Axle here>>>
Shares of American Axle have returned +16.5% over the past month versus the Zacks S&P 500 composite's +1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Axle & Manufacturing Holdings, Inc. (AXL) : Free Stock Analysis Report
