Friday, July 29, 2011

American Axle (NYSE: AXL): Q2 2011 Earnings Roundup

American Axle & Manufacturing Holdings Inc. (NYSE: AXL) reported Friday that its second-quarter profit surged to $49.2 million, or 65 cents a share, up from $25.4 million, or 34 cents a share, in the year-ago quarter. Revenue rose 23% to $686.2 million from $$559.6 million. Analysts, on average, expected the company to report earnings of 44 cents per share on revenue of $631.93 million.

Looking ahead, the company lifted its full-year 2011 sales and earnings outlook, with sales now expected to range from $2.5 billion to $2.6 billion. Nine analysts anticipate revenues of $2.51 billion for 2011. AAM expects to be profitable and generate adjusted EBITDA in the range of 14.5% - 15.0% of sales in 2011.

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