American Axle Trims FY22 Sales Outlook As Q3 Adj. EPS Miss Estimates; Stock Down 16%

RTTNews | hace 970
Stocktwits
American Axle Trims FY22 Sales Outlook As Q3 Adj. EPS Miss Estimates; Stock Down 16%

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

For fiscal 2022, the company now projects sales in the range of $5.75 billion to $5.85 billion, down from the prior guidance range of $5.75 billion to $5.95 billion.

On average, eight analysts polled by Thomson Reuters expect the company to report sales of $5.84 billion for the year.

For the third quarter, the company reported net income of $26.5 million or $0.22 per share, compared to a net loss of $2.4 million or $0.02 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.27 per share, compared to $0.15 per share in the year-ago quarter.

Net sales for the quarter increased to $1.54 billion from $1.21 billion in the same quarter last year.

The Street was looking for earnings of $0.24 per share on sales of $1.47 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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Australian Market Trims Early Gains In Mid-market

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RTTNews | hace 26 minutos
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Sensex, Nifty Seen Flat To Higher At Open

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Indian shares look set to open higher on Wednesday as reports suggest that the India-U.S. trade deal is in its final stages of negotiations.
RTTNews | hace 1h 30min
Japanese Market Significantly Lower

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The Japanese stock market is significantly lower on Wednesday, extending the sharp losses in the previous session, following the mixed cues from Wall Street overnight. The Nikkei 225 is falling well below the 39,650 level, with weakness in technology and financial stocks as well as mixed performance in most other sectors.
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ADVERTENCIA DE ALTO RIESGO: El comercio de divisas implica un alto nivel de riesgo que puede no ser adecuado para todos los inversores. El efecto de apalancamiento crea un riesgo adicional y una exposición a las pérdidas. Antes de decidirse a operar con divisas, considere cuidadosamente sus objetivos de inversión, su nivel de experiencia y su tolerancia al riesgo. Podría perder una parte o la totalidad de su inversión inicial. No invierta dinero que no puede permitirse perder. Infórmese sobre los riesgos asociados al trading de divisas y pida consejo a un asesor financiero o fiscal independiente si tiene alguna duda. Todos los datos y la información se proporcionan "tal cual" con fines informativos únicamente y no están destinados a fines comerciales o de recomendación. Los resultados pasados no son indicativos de los resultados futuros.