DETROIT (AP) — DETROIT (AP) — American Axle & Manufacturing Holdings Inc. (AXL) on Friday reported a first-quarter loss of $5.1 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Detroit-based company said it had a loss of 4 cents. Losses, adjusted for restructuring costs, were 1 cent per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The maker of auto parts posted revenue of $1.49 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $1.52 billion.
American Axle expects full-year revenue in the range of $5.95 billion to $6.25 billion.
American Axle shares have declined 14% since the beginning of the year. The stock has decreased 6% 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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