Eye Catching Stock: American Axle & Manufacturing Holdings, Inc. (NYSE: AXL)

On Friday, American Axle & Manufacturing Holdings, Inc. stock identified change of 64.88% away from 52-week low price and recently located move of -43.78% off 52-week high price. It has market worth of $1084.2M. AXL stock has been recorded 10.33% away from 50 day moving average and -14.73% away from 200 day moving average. Moving closer, we can see that shares have been trading -2.96% off 20-day moving average.

American Axle & Manufacturing Holdings, Inc (AXL) recently stated its financial results for the third quarter 2019 and updated its full year financial outlook.

Third Quarter 2019 Results

  • Sales of $1.68B
  • Net loss attributable to AAM of $124.2M, or (7.4%) of sales, which includes the impact of a pre-tax impairment charge related the reported sale of our U.S. iron casting operations of $225.0M
  • Adjusted EBITDA of $265.8M, or 15.8% of sales
  • Diluted loss per share of $1.10; Adjusted earnings per share of $0.58
  • Net cash provided by operating activities of $241.7M; Adjusted free cash flow of $160.5M
  • AAM’s third quarter financial results were unfavorably influenced by a work stoppage at our largest consumer (GM work stoppage) that began on September 15, 2019.

AAM’s sales in the third quarter of 2019 were $1.68B as contrast to $1.82B in the third quarter of 2018.  AAM estimates that our sales in the third quarter of 2019 were unfavorably influenced by the GM work stoppage by about $57M.

AAM’s net loss in the third quarter of 2019 was $124.2M, or $1.10 per share, as contrast to net income of $63.8M, or $0.55 per share in the third quarter of 2018.

AAM defines Adjusted earnings per share to be diluted earnings per share not including the impact of restructuring and acquisition-related costs, debt refinancing and redemption costs, gain on sale of business, impairment charges and non-recurring items, including the tax effect thereon.  Adjusted earnings per share in the third quarter of 2019 were $0.58 contrast to $0.63 in the third quarter of 2018.

AAM estimates that our net loss in the third quarter of 2019 was unfavorably influenced by the GM work stoppage by about $14M, or $0.12 per share.

AAM defines EBITDA to be earnings before interest expense, income taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA not including the impact of restructuring and acquisition-related costs, debt refinancing and redemption costs, gain on sale of business, impairment charges and non-recurring items.  In the third quarter of 2019, Adjusted EBITDA was $265.8M, or 15.8% of sales, as contrast to $275.0M, or 15.1% of sales, in the third quarter of 2018.  AAM estimates that our Adjusted EBITDA in the third quarter of 2019 was unfavorably influenced by the GM work stoppage by about $18M.

The Consumer Goods sector company, American Axle & Manufacturing Holdings, Inc. noticed change of 1.90% to $9.67 along volume of 942038 shares in recent session compared to an average volume of 2824.32K. The stock observed return of -2.91% in 5 days trading activity. The stock was at 11.92% over one-month performance. AXL’s shares are at 52.04% for the quarter and driving a -17.21% return over the course of the past year and is now at -12.88% since this point in 2018.   The average volatility for the week at 4.18% and for month was at 5.55%. There are 112.12M shares outstanding and 110.72M shares are floated in market. Right now, the stock beta is 2.19.

 

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