AXL, QFIN, and DKL made it to the Zacks Rank #1 (Strong Buy) income stocks list on August 22, 2024.
American Axle (AXL) reports better-than-expected Q2 results and expects full-year 2024 revenues in the range of $6.10-$6.30 billion compared with the previous estimate of $6.05-$6.35 billion.
Evaluate American Axle's (AXL) reliance on international revenue to better understand the company's financial stability, growth prospects and potential stock price performance.
American Axle & Manufacturing Holdings, Inc. (NYSE:AXL ) Q2 2024 Earnings Call August 9, 2024 10:00 AM ET Company Participants David Lim - Head, Investor Relations David Dauch - Chairman and Chief Executive Officer Chris May - Executive Vice President and Chief Financial Officer Conference Call Participants Joe Spak - UBS Tom Narayan - RBC Dan Levy - Barclays Itay Michaeli - Citi Jake Scholl - BNP John Murphy - Bank of America Operator Good morning. My name is Gary, and I will be your conference facilitator today.
It was the specialty auto components manufacturer's turn to bat this earnings season. With its second-quarter performance, it convincingly beat on both the top and bottom lines.
American Axle & Manufacturing (AXL) came out with quarterly earnings of $0.19 per share, beating the Zacks Consensus Estimate of $0.10 per share. This compares to earnings of $0.12 per share a year ago.
American Axle & Manufacturing Holdings Inc.'s stock AXL, +2.31% soared 8% early Friday, after the maker of auto driveline systems and components swept past estimates for the second quarter. Detroit-based American Axle had net income of $18.2 million, or 15 cents a share, for the quarter, up from $8.0 million, or 7 cents a share, in the year-earlier period.
The Zacks Consensus Estimate for American Axle's (AXL) second-quarter earnings and revenues is pegged at 10 cents per share and $1.56 billion, respectively.
American Axle & Manufacturing is a value investing opportunity with potential for growth and cheap shares. Despite a recent decline in the price of shares, the company's financial results show positive revenue and profitability trends. High debt levels are a concern, but management's focus on debt reduction and positive cash flows make the company an attractive buy.
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) told investors that its second Ubaque horizontal well, CNB HZ-3, is now on production. Moreover, the well is performing above expectations - currently flowing at 1,519 barrels of oil per day (BOPD) net to Arrow, with less than 6.5% water cut.
American Axle (AXL) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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