American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) shares are trading higher on Friday. The company reported second-quarter adjusted earnings per share of 21 cents, beating the analyst consensus estimate of 15 cents. Quarterly sales of $1.536 billion slightly missed the Street view. Gross profit totaled $200.7 million, down from a year ago.

Adjusted EBITDA stood at $202.2 million, down from $208.4 million a year earlier. The adjusted EBITDA margin improved to 13.2%. CEO David C. Dauch stated the company saw year-over-year adjusted EBITDA margin growth. The company exited the quarter with cash and equivalents worth $586.5 million.

American Axle & Manufacturing Holdings raised its fiscal year 2025 sales guidance and adjusted EBITDA expectations. The company now expects higher sales and adjusted EBITDA. It also forecasts adjusted free cash flow to be higher, with AXL shares trading higher by 13.8% to $5.22 at last check Friday.

Read more at Yahoo Finance: American Axle Lifts Outlook After Margin Gains