American Axle & Manufacturing Holdings (NYSE:AXL) stock identified change of 138.40% away from 52-week low price and recently located move of -54.95% off 52-week high price. It has market worth of $694.58MM. AXL stock has been recorded 45.14% away from 50 day moving average and -23.63% away from 200 day moving average. Moving closer, we can see that shares have been trading 54.81% off 20-day moving average.
On May 08, 2020, American Axle & Manufacturing Holdings (NYSE:AXL) released its financial results for the first quarter 2020 and provided a liquidity update.
First Quarter 2020 Results
- Sales of $1.34 billion
- Net loss attributable to AAM of $501.3 million, or (37.3)% of sales, which includes the impact of a pre-tax goodwill impairment of $510.0 million
- Adjusted EBITDA of $213.3 million, or 15.9% of sales
- Diluted loss per share of $4.45; Adjusted earnings per share of $0.20
- Net cash provided by operating activities of $139.4 million; Adjusted free cash flow of $83.3 million
- AAM’s first quarter financial results were unfavorably impacted by global production reductions due to the coronavirus pandemic (COVID-19)
AAM delivered strong operating performance and free cash flow generation in the first quarter of 2020 despite the unfavorable impact of COVID-19 on global light vehicle production. We expect this unprecedented health crisis and related effect on global light vehicle production and consumer demand to further impact AAM’s financial results in the second quarter of 2020, said AAM’s Chairman and Chief Executive Officer, David C. Dauch. As we begin to resume our global operations, we are focused on securing a safe and healthy workplace for our associates while utilizing our variable cost structure to mitigate the steep decline in global production volumes. In addition, we will continue to work with our supply base to meet customer requirements and structurally adjust our operations to the new market demand.
AAM’s sales in the first quarter of 2020 were $1.34 billion as compared to $1.72 billion in the first quarter of 2019. AAM estimates that our sales for the first quarter of 2020 were unfavorably impacted by COVID-19 by approximately $169 million. In addition, our first quarter of 2019 sales include $182 million related to our U.S. iron casting operations, which were sold in December 2019.
The Consumer Cyclical sector company, American Axle & Manufacturing Holdings noticed change of 39.91% to $5.96 along volume of 12369126 shares in recent session compared to an average volume of 2.64M. The stock observed return of 42.24% in 5 days trading activity. The stock was at 62.84% over one month performance. AXL’s shares are at -38.49% for the quarter and driving a -51.11% return over the course of the past year and is now at -44.61% since this point in 2018.
The average volatility for the week at 14.02% and for month was at 12.46%. There are 116.54M shares outstanding and 111.24M shares are floated in market. Right now the stock beta is 2.54.