American Axle & Manufacturing Holdings Inc. or AAM (AXL) reported a plunge in first-quarter net income to $7.3 million, or $0.10 per share, from $51.2 million, or $0.68 per share, in the previous year. On average, 12 analysts polled by Thomson Reuters expected earnings per share of $0.16 for the quarter. Analysts' estimates typically exclude one-time items. In the recent quarter, AAM's results reflect the impact of $11.3 million, or $0.13 per share of debt refinancing and redemption costs.
Also, pre-tax income for the period plummeted to $4.9 million, from the year-ago quarter's $52.5 million.
However, three-month net sales were $755.6 million, an increase from $751.5 million a year earlier, and beat consensus estimates of $750.01 million for the quarter. Non-GM sales were $188.1 million in the first quarter of 2013 as compared with $193.6 million in the first quarter of 2012.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.