Stock Track | American Axle & Mfg Jumps 6% Pre-Market on Q3 Profit Beat

Stock Track11-08

Shares of American Axle & Manufacturing Holdings Inc. (AXL) soared 6.43% in pre-market trading on Thursday, after the auto parts supplier reported better-than-expected third quarter earnings results.

For the quarter ended September 30, American Axle posted adjusted earnings of $0.20 per share, significantly beating analysts' consensus estimate of a $0.05 loss per share. Revenue came in at $1.505 billion, narrowly exceeding expectations of $1.504 billion but down 3% year-over-year.

The Detroit-based company, which manufactures driveline and metal forming products for light trucks, SUVs, and passenger cars, has faced headwinds from rising material costs and supply chain constraints. However, the surprise profit in Q3 provided a positive signal that American Axle is navigating these challenges effectively through cost controls and operational improvements.

"American Axle's better-than-feared results reflect the success of their streamlining initiatives and strong demand for trucks and SUVs," said Jefferies analyst David Kelley. "While challenges remain, the company appears poised for a return to sustained profitability as the sector recovers." Kelley has a Buy rating and $12 price target on AXL shares.

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(AXL) soared 6.43% in pre-market trading on Thursday, after the auto parts supplier reported better-than-expected third quarter earnings results.\n...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AXL","symbol_name":"美国车桥","start_time":0,"source_url":"","article_id":"1160701474","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1160701474","pubTimestamp":1731071069,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of American Axle & Manufacturing Holdings Inc.  soared 6.43% in pre-market trading on Thursday, after the auto parts supplier reported better-than-expected third quarter earnings results.For the quarter ended September 30, American Axle posted adjusted earnings of $0.20 per share, significantly beating analysts' consensus estimate of a $0.05 loss per share. 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