American Axle & Manufacturing Holdings, Inc. Common Stock (AXL)
4.5750
-0.1750 (-3.68%)
American Axle & Manufacturing is a leading supplier of driveline and drivetrain technology for the automotive industry
The company specializes in producing a wide range of products, including axles, driveshafts, and chassis components, which are essential for the performance and efficiency of vehicles. With a strong focus on innovation and engineering, American Axle partners with major automotive manufacturers to develop advanced solutions that enhance vehicle functionality and sustainability. Their commitment to quality and operational excellence positions them as a key player in the global automotive supply chain.
With the earnings season now halfway through, the percentage of S&P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages.
American Axle & Manufacturing has agreed to acquire Dowlais Group plc for $1.44 billion. This strategic move expands AAM's product portfolio across internal combustion and electric vehicles.
After a blistering Thursday that saw the S&P 500 close with its best session in nearly two years — up 2.3% — Wall Street’s price action turned sluggish on a Friday lacking market-moving economic events.
AXL stock results show that American Axle & Mfg Hldgs beat analyst estimates for earnings per share and beat on revenue for the second quarter of 2024.
American Axle & Manufacturing Holdings outperforms expectations in Q1 FY24 with sales soaring 7.7% year-on-year to $1.61 billion, driven by volume and mix. Adjusted EPS surpasses estimates at $0.18, while gross profit jumps 23.6% to $198.5 million.
Stocks look set to carry forward the upward momentum on Friday amid some earnings cheer, although a tinge of nervousness is evident ahead of the all-important non-farm payrolls report.
American Axle & Manufacturing Holdings' fourth-quarter results beat expectations. AAM's gross new and incremental business backlog launching from 2024 - 2026 is estimated at approximately $600 million in future annual sales.
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American Axle & Manufacturing Holdings Inc (NYSEAXL) shares were tanking in early trading on Tuesday. There are no visible positive catalysts for the stock “until well into 2024,” according to BofA Securities.
