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American Axle (AXL) to Report Q2 Earnings: What's in Store?
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American Axle & Manufacturing Holdings, Inc. (AXL - Free Report) is slated to release second-quarter 2024 results on Aug 9, before market open. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings and revenues is pegged at 10 cents per share and $1.56 billion, respectively.
For the second quarter, the consensus estimate for AXL’s earnings per share has moved up by a penny in the past 30 days. Its bottom-line estimates imply a decline of 16.67% from the year-ago reported number.
The Zacks Consensus Estimate for revenues suggests a year-over-year decline of 0.58%.
AXL surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average surprise being 404.69%. This is depicted in the graph below:
American Axle & Manufacturing Holdings, Inc. Price and EPS Surprise
In first-quarter 2024, American Axle posted adjusted quarterly earnings of 18 cents per share, surpassing the Zacks Consensus Estimate of 1 cent. The company had incurred a loss per share of 1 cent a year ago. AXL posted revenues of $1.61 billion, outpacing the Zacks Consensus Estimate of $1.51 billion and rising 8% from the year-ago quarter.
Things to Note
American Axle remains focused on making considerable progress across the electric drive space. The collaboration with Inovance is likely to have fueled electrification revenues in the second quarter.
American Axle’s efforts to diversify its business, products and customer base are likely to have driven the company’s second-quarter performance. Optimization of the portfolio via buyouts has been enhancing its portfolio. The acquisition of Metaldyne Performance Group is expected to have widened AXL’s operating scale, customer base and end markets.
Discouragingly, the company has been investing more resources in the training and development of its workforce. While this investment in labor development is crucial for maintaining a skilled workforce, it might have negatively impacted production efficiencies in the to-be-reported quarter.
Here's a sneak peek at the firm’s key revenue projections for the to-be-reported quarter.
Our estimate for quarterly revenues from the Driveline segment, which has the highest contribution to the company’s revenues, is pegged at $1.07 billion, suggesting a decline from $1.09 billion recorded in the prior-year quarter. Our estimate for revenues from the Metal Forming segment is pinned at $599.8 million, indicating a decline from $634.2 million recorded in the year-ago quarter.
Our estimate for Adjusted EBITDA for the Driveline segment is pegged at $147 million, indicating a decline from $152.1 million recorded in the year-ago period. Our estimate for Adjusted EBITDA for the Metal Forming segment is pegged at $33.9 million, suggesting a decline from $39.5 million reported in the year-ago quarter.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for American Axle this time around, as it does not have the right combination of the two key ingredients. A positive Earnings ESP, combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), increases the odds of an earnings beat. This is not the case here.
Earnings ESP: AXL has an Earnings ESP of -30.00%. This is because the Most Accurate Estimate is pegged lower than the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: American Axle currently carries a Zacks Rank #3.
Earnings Whispers for Other Auto Stocks
Lucid Group, Inc. (LCID - Free Report) has an Earnings ESP of +1.85% and a Zacks Rank #4 (Sell) at present. It is scheduled to post second-quarter earnings on Aug 5. The Zacks Consensus Estimate is pegged at a loss of 27 cents per share. You can see the complete list of today’s Zacks #1 Rank stocks here.
LCID missed estimates in each of the trailing four quarters, the average negative surprise being 10.39%.
Rivian Automotive, Inc. (RIVN - Free Report) has an Earnings ESP of -10.68% and a Zacks Rank #2 at present. The company is slated to post second-quarter 2024 earnings on Aug 6. The Zacks Consensus Estimate is pegged at a loss of $1.17 per share.
RIVN surpassed earnings estimates in three of the trailing four quarters and missed once, the average surprise being 8.19%.
Blink Charging Co. (BLNK - Free Report) has an Earnings ESP of +4.88% and sports a Zacks Rank #1 at present. The company is scheduled to post second-quarter 2024 earnings on Aug 7. The Zacks Consensus Estimate is pegged at a loss of 14 cents per share.
BLNK surpassed earnings estimates in each of the trailing four quarters, the average surprise being 36.76%.
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American Axle (AXL) to Report Q2 Earnings: What's in Store?
American Axle & Manufacturing Holdings, Inc. (AXL - Free Report) is slated to release second-quarter 2024 results on Aug 9, before market open. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings and revenues is pegged at 10 cents per share and $1.56 billion, respectively.
For the second quarter, the consensus estimate for AXL’s earnings per share has moved up by a penny in the past 30 days. Its bottom-line estimates imply a decline of 16.67% from the year-ago reported number.
The Zacks Consensus Estimate for revenues suggests a year-over-year decline of 0.58%.
AXL surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average surprise being 404.69%. This is depicted in the graph below:
American Axle & Manufacturing Holdings, Inc. Price and EPS Surprise
American Axle & Manufacturing Holdings, Inc. price-eps-surprise | American Axle & Manufacturing Holdings, Inc. Quote
Q1 Highlights
In first-quarter 2024, American Axle posted adjusted quarterly earnings of 18 cents per share, surpassing the Zacks Consensus Estimate of 1 cent. The company had incurred a loss per share of 1 cent a year ago. AXL posted revenues of $1.61 billion, outpacing the Zacks Consensus Estimate of $1.51 billion and rising 8% from the year-ago quarter.
Things to Note
American Axle remains focused on making considerable progress across the electric drive space. The collaboration with Inovance is likely to have fueled electrification revenues in the second quarter.
American Axle’s efforts to diversify its business, products and customer base are likely to have driven the company’s second-quarter performance. Optimization of the portfolio via buyouts has been enhancing its portfolio. The acquisition of Metaldyne Performance Group is expected to have widened AXL’s operating scale, customer base and end markets.
Discouragingly, the company has been investing more resources in the training and development of its workforce. While this investment in labor development is crucial for maintaining a skilled workforce, it might have negatively impacted production efficiencies in the to-be-reported quarter.
Here's a sneak peek at the firm’s key revenue projections for the to-be-reported quarter.
Our estimate for quarterly revenues from the Driveline segment, which has the highest contribution to the company’s revenues, is pegged at $1.07 billion, suggesting a decline from $1.09 billion recorded in the prior-year quarter. Our estimate for revenues from the Metal Forming segment is pinned at $599.8 million, indicating a decline from $634.2 million recorded in the year-ago quarter.
Our estimate for Adjusted EBITDA for the Driveline segment is pegged at $147 million, indicating a decline from $152.1 million recorded in the year-ago period. Our estimate for Adjusted EBITDA for the Metal Forming segment is pegged at $33.9 million, suggesting a decline from $39.5 million reported in the year-ago quarter.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for American Axle this time around, as it does not have the right combination of the two key ingredients. A positive Earnings ESP, combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), increases the odds of an earnings beat. This is not the case here.
Earnings ESP: AXL has an Earnings ESP of -30.00%. This is because the Most Accurate Estimate is pegged lower than the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: American Axle currently carries a Zacks Rank #3.
Earnings Whispers for Other Auto Stocks
Lucid Group, Inc. (LCID - Free Report) has an Earnings ESP of +1.85% and a Zacks Rank #4 (Sell) at present. It is scheduled to post second-quarter earnings on Aug 5. The Zacks Consensus Estimate is pegged at a loss of 27 cents per share. You can see the complete list of today’s Zacks #1 Rank stocks here.
LCID missed estimates in each of the trailing four quarters, the average negative surprise being 10.39%.
Rivian Automotive, Inc. (RIVN - Free Report) has an Earnings ESP of -10.68% and a Zacks Rank #2 at present. The company is slated to post second-quarter 2024 earnings on Aug 6. The Zacks Consensus Estimate is pegged at a loss of $1.17 per share.
RIVN surpassed earnings estimates in three of the trailing four quarters and missed once, the average surprise being 8.19%.
Blink Charging Co. (BLNK - Free Report) has an Earnings ESP of +4.88% and sports a Zacks Rank #1 at present. The company is scheduled to post second-quarter 2024 earnings on Aug 7. The Zacks Consensus Estimate is pegged at a loss of 14 cents per share.
BLNK surpassed earnings estimates in each of the trailing four quarters, the average surprise being 36.76%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.