What happened Shares of American Axle & Manufacturing Holdings (NYSE: AXL), or AAM, a Detroit-based global automotive supplier of driveline and other automotive products, jumped over 24% early Friday morning after the company released third-quarter results. So what Revenue declined 7.7% to $1.68 billion during the third quarter, falling short of analysts' estimates. Despite the top-line miss, AAM's adjusted earnings per share checked in at $0.58, easily beating estimates calling for $0.47 per share. General Motors (NYSE: GM) is AAM's largest customer, and the worker strike and production halt caused an unfavorable financial impact. AAM estimates the GM work stoppage cost the company roughly $57 million in sales during the third quarter and that the full impact will be around $250 million. Image source: Getty Images. Those negative strike-related impacts caused management to lower full-year sales guidance from a range of $6.9 billion to $7 billion down to roughly $6.6 billion. Management also expects full-year adjusted EBITDA in the range of $950 million to $975 million, compared to analysts' consensus estimates of $1.03 billion. "The strong free cash flow generated during the quarter, along with the announced sale of our U.S. iron casting operations, position us to continue to deliver on our commitment to reduce debt and strengthen our financial profile," said AAM's chairman and chief executive officer, David C. Dauch, in a press release. Now what Today's pop in AAM's share price could have come about simply because results weren't as bad as anticipated. Shares traded roughly 5% lower during the trading session prior to the earnings release, and multiple analysts had lowered estimates during the quarter, so when AAM managed to beat bottom-line estimates, it was enough to power the stock higher. However, investors should take today's price jump with a grain of salt, as the auto supplier has shed nearly 30% of its value over the past year -- taking Friday's gains into account -- and the supplier will face challenges as North America light-vehicle sales plateau. 10 stocks we like better than American Axle & ManufacturingWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and American Axle & Manufacturing wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 1, 2019 Daniel Miller owns shares of General Motors. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source