American Axle Boosts FY22 Sales Outlook; Q2 Results Top Estimates

RTTNews | 455 dagar sedan
Stocktwits
American Axle Boosts FY22 Sales Outlook; Q2 Results Top Estimates

(RTTNews) - While reporting financial results for the second quarter on Friday, American Axle & Manufacturing Holdings, Inc. or AAM (AXL) raised its sales guidance for the full-year 2022.

For fiscal 2022, the company now projects sales in the range of $5.75 billion to $5.958 billion, up from the prior guidance range of $5.6 billion to $5.8 billion.

On average, eight analysts polled by Thomson Reuters expect the company to report sales of $5.76 billion for the year.

For the second quarter, net income grew to $22.9 million or $0.19 per share from $16.0 million or $0.13 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.22 per share, compared to $0.29 per share in the year-ago quarter.

Net sales for the quarter increased to $1.44 billion from $1.28 billion in the same quarter last year.

The Street was looking for earnings of $0.10 per share on sales of $1.37 billion for the quarter. Analysts' estimates typically exclude special items.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

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New York Manufacturing Index Edges Modestly Lower In May

New York Manufacturing Index Edges Modestly Lower In May

A report released by the Federal Reserve Bank of New York said regional manufacturing activity continued to decline modestly in the month of May. The New York Fed said its general business conditions index edged down to a negative 9.2 in May from a negative 8.1 in April, with a negative reading indicating contraction. Economists had expected the index to dip to a negative 10.0.
RTTNews | 5 minuter sedan
Philly Fed Index Jumps More Than Expected But Remains Negative In May

Philly Fed Index Jumps More Than Expected But Remains Negative In May

Philadelphia-area manufacturing activity remained weak in the month of May, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday. The Philly Fed said its diffusion index for current general activity jumped to a negative 4.0 in May from a negative 26.4 in April, but a negative reading still indicates contraction.
RTTNews | 59 minuter sedan
U.S. Retail Sales Inch Up In Line With Estimates In April

U.S. Retail Sales Inch Up In Line With Estimates In April

A report released by the Commerce Department on Thursday showed a slight increase by U.S. retail sales in the month of April. The Commerce Department said retail sales crept up by 0.1 percent in April after surging by an upwardly revised 1.7 percent in March. Economists had expected retail sales to inch up by 0.1 percent compared to the 1.4 percent jump originally reported for the previous month.
RTTNews | 1h 15minuter sedan
U.S. Producer Prices Unexpectedly Decrease In April

U.S. Producer Prices Unexpectedly Decrease In April

Producer prices in the U.S. unexpectedly decreased in the month of April, according to a report released by the Labor Department on Thursday. The Labor Department said its producer price index for final demand fell by 0.5 percent in April following a revised unchanged reading in March. Economists had expected producer prices to rise by 0.2 percent.
RTTNews | 1h 17minuter sedan
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