American Axle Accelerates Past Forecasts: Sales Surge 5% Amid Optimistic FY24 Outlook

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) reported a fourth-quarter adjusted loss per share of $(0.09), while the street estimated a wider loss of $(0.19).

Quarterly sales of $1.46 billion beat the $1.42 billion estimate. Revenues rose 5% year over year.

Sales for the fourth quarter of 2023 were favorably impacted by volume and mix, partially offset by the UAW work stoppage, the company said in a press release.

Fourth quarter adjusted EBITDA …

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