American Axle & Manufacturing Q2 Profit Rises - Quick Facts

(RTTNews) - American Axle & Manufacturing Holdings, Inc. (AAM) Friday said second-quarter net income increased to $52.2 million, or $0.67 per share from $25.8 million, or $0.34 per share in the second quarter of 2013.

On average, 10 analysts polled by Thomson Reuters expected earnings of $0.72 per share for the quarter. Analysts' estimates typically exclude special items.

Sales climbed 18.4 percent to $946.9 million from $799.6 million in the prior year. Analysts expected revenues of $995.45 million.

American Axle makes driveline and drivetrain systems, as well as related components and chassis modules for trucks.

AAM's Chairman, President and CEO, David Dauch said, "AAM's financial results in the second quarter of 2014 reflect strong sales growth and profitability driven by the favorable impact of increased production volumes across many of our major product programs supporting the North American light vehicle segment."