American Axle (NYSE:AXL) & Manufacturing Holdings Inc. (AXL) stock has hit a 52-week low, dropping to $5.43, as the company faces a tumultuous market environment. This latest price point underscores a significant retreat from better-performing times, with the stock experiencing a -31.8% change over the past year. Investors are closely monitoring the automotive supplier's performance, as the industry grapples with supply chain issues and shifting demand in the wake of global economic pressures. Despite challenges, the company maintains a healthy current ratio of 1.65, and analysts expect net income growth this year. The 52-week low serves as a critical indicator for shareholders and potential investors, reflecting the company's current challenges and the broader sector's headwinds. For deeper insights into AXL's valuation and 10 additional key ProTips, visit InvestingPro.
In other recent news, American Axle & Manufacturing Holdings, Inc. reported significant third quarter earnings, surpassing analyst expectations, despite a slight shortfall in revenue. The auto parts supplier posted adjusted earnings per share of $0.20, a stark contrast to the analyst consensus estimate of -$0.05. Revenue, however, was slightly less than anticipated, coming in at $1.50 billion against the expected $1.51 billion.
American Axle's net income for Q3 was $10.0 million, or $0.08 per share, a significant improvement from a net loss of $17.4 million, or -$0.15 per share, in the same quarter last year. Adjusted EBITDA rose to $174.4 million, or 11.6% of sales, up from $156.8 million, or 10.1% of sales, in Q3 2023.
While sales experienced a slight decline year-over-year from $1.55 billion, the company attributed this to lower volumes on certain platforms. Despite this, the company demonstrated improved profitability metrics, indicating increased efficiency and margins.
American Axle also adjusted its full-year 2024 guidance ranges, now expecting sales of $6.1-$6.15 billion, adjusted EBITDA of $715-$745 million, and adjusted free cash flow of $200-$220 million. These recent developments offer insights into the company's performance and future expectations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.