Equity Research on Lear Corp. and American Axle & Manufacturing Holdings Inc. - Auto Parts Beat Expectations but Decline Vers...
10 Agosto 2012 - 2:20PM
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Companies in the auto parts industry seem to have faced
considerable headwinds in the most recent quarter as weak
production in Europe weighed on results. Nevertheless, many
industry players were successful in beating Wall Street's
expectations despite dropping below last year's results. U.S. auto
sales seem to be a bright spot for the industry as in 2012 they are
now expected to reach 14.2 million, their highest level since 2007.
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American Axle & Manufacturing Holdings
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Producer of automotive seats and other components Lear
Corporation announced a 19 percent year-over-year dip in its second
quarter net income to $145 million. During the quarter, the
company's sales rose 15 percent in North America and 10 percent in
Asia, but declined 16 percent in Europe. Lear
Corporation report is accessible for free by registering today
at
http://www.ShinesRooms.com/LearCorporation100812.pdf
Elsewhere in the industry, American Axle and Manufacturing Inc.
posted a second quarter profit of $41.2 million, down 16 percent as
compared to the same period a year ago. However, the company
succeeded in growing sales by 8 percent in the quarter and has also
made progress in diversifying its customer base, with non-GM sales
increasing 8.5%. American Axle & Manufacturing
Holdings Inc. report is accessible for free by registering
today at
http://www.ShinesRooms.com/AmericanAxleandManufacturingHoldingsInc100812.pdf
The two Auto Parts stocks research reports
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Grafico Azioni American Axle and Manufa... (NYSE:AXL)
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