Back to Newsroom
Back to Newsroom

Earnings Review and Free Research Report: American Axle & Manufacturing’s Revenue Soared 70.9%; Adjusted EPS Climbed 11.2%

Monday, 14 August 2017 07:40 AM

Pro-Trader Daily

Topic:

Research Desk Line-up: Dorman Products Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 14, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on American Axle & Manufacturing Holdings, Inc. (NYSE: AXL) ("AAM"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=AXL, following the Company's disclosure of its second quarter fiscal 2017 results on July 28, 2017. The maker of auto parts topped earnings expectations and confirmed its full year 2017 financial outlook. AAM's Q2 2017 results reflected the impact of the acquisition of Metaldyne Performance Group Inc. ("MPG") that was completed on April 06, 2017. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

http://protraderdaily.com/register/

Get more of our free earnings reports coverage from other constituents of the Auto Parts industry. Pro-TD has currently selected Dorman Products, Inc. (NASDAQ: DORM) for due-diligence and potential coverage as the Company announced on August 01, 2017, its financial results for Q2. Register for a free membership today, and be among the early birds that get access to our report on Dorman Products when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on AXL; also brushing on DORM. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=AXL

http://protraderdaily.com/optin/?symbol=DORM

Earnings Reviewed

AAM's sales in Q2 2017 increased to $1.76 billion compared to $1.03 billion in Q2 2016. The Company's non-GM sales increased to a record $969.7 million, or 55.2% of sales, in Q2 2017 compared to $333.9 million, or 32.6% of sales, in the prior year's same quarter. The Company's sales figures fell short of analysts' estimates by 0.2%.

During Q2 2017, AAM's net income totaled $66.2 million, or $0.59 per share, compared to net income of $71.0 million, or $0.90 per share, in Q2 2016. The Company's earnings, excluding the impact of restructuring and acquisition-related costs, debt refinancing, and redemption costs, and non-recurring items, totaled $0.99 per share for the reported quarter compared to $0.89 in the prior year's corresponding quarter. AAM's earnings number topped Wall Street's estimates of $0.86 per share.

For Q2 21017, AAM's adjusted earnings before interest expense, income taxes, depreciation and amortization (EBITDA) was $325.7 million, or 18.5% of sales, compared to $164.8 million, or 16.1% of sales, in Q2 2016.

Segment Results

During Q2 2017, AAM's Driveline business revenue totaled $1.02 billion compared to $969.5 million in Q2 2016. The segment's adjusted EBITDA came in at $178.9 million compared to $135.7 million for the prior year's corresponding quarter. For Q2 2017, AAM's Metal Forming unit recorded sales of $369.3 million versus sales of $141.4 million in Q2 2016. The segment posted adjusted EBITDA of $69.4 million in the reported quarter compared to $29.1 million in Q2 2016.

Cash Matters

During Q2 2017, AAM's net cash provided by operating activities was $150.9 million compared to $157.3 million in Q2 2016. AAM's net cash provided by operating activities for H1 2017 was $213.2 million compared to $183.5 million for H1 2016. AAM's adjusted free cash flow was $141.6 million for the reported quarter compared to $105.0 million for the year ago same period. The Company's adjusted free cash flow was $202.1 million for H1 2017 compared to $81.2 million for H1 2016.

Financial Outlook

AAM confirmed its full year 2017 financial outlook which includes the impact of the MPG's acquisition. The Company is forecasting sales of approximately $6.1 billion in 2017, which excludes MPG's sales for the period between January 01, 2017 and April 05, 2017.

The Company is estimating adjusted EBITDA margin in the range of 17% to 18% of sales in 2017. AAM is predicting adjusted free cash flow of approximately 5% of sales in 2017. The Company is targeting full year capital spending of approximately 8% of sales in 2017.

Stock Performance

On Friday, August 11, 2017, American Axle & Manufacturing's stock closed the trading session at $14.35, climbing 1.49% from its previous closing price of $14.14. A total volume of 1.60 million shares were exchanged during the session. Shares of the Company have a PE ratio of 4.85 and currently have a market cap of $1.57 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email [email protected]. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: [email protected]

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

Topic:
Back to newsroom
Back to Newsroom
Share by: