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American Axle & Manufacturing Q1 profit climbs 53.7% YOY

American Axle & Manufacturing Holdings said its first-quarter normalized net income came to 51 cents per share, compared with the S&P Capital IQ consensus estimate of 57 cents per share.

EPS climbed 52.9% year over year from 34 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $39.0 million, a gain of 53.7% from $25.4 million in the prior-year period.

The normalized profit margin increased to 4.0% from 3.0% in the year-earlier period.

Total revenue increased 12.8% year over year to $969.1 million from $858.8 million, and total operating expenses climbed 11.4% from the prior-year period to $884.8 million from $794.0 million.

Reported net income rose 55.4% from the prior-year period to $51.7 million, or 68 cents per share, from $33.3 million, or 44 cents per share.