DETROIT (AP) — DETROIT (AP) — American Axle & Manufacturing Holdings Inc. (AXL) on Friday reported third-quarter net income of $9.2 million.
On a per-share basis, the Detroit-based company said it had net income of 7 cents. Earnings, adjusted for one-time gains and costs, were 16 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The maker of auto parts posted revenue of $1.51 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $1.49 billion.
American Axle expects full-year revenue in the range of $5.8 billion to $5.9 billion.
American Axle shares have risen roughly 6% since the beginning of the year. The stock has declined slightly in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXL at https://www.zacks.com/ap/AXL
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