(Adds earnings from Dura, supplier sector, analyst quotes, stock prices, byline)
By Michael Ellis
DETROIT, July 24 (Reuters) - Automotive suppliers American Axle and Dura Automotive Systems Inc. both reported stronger earnings on Thursday, capping a good second quarter for the sector, analysts said.
Cost-cutting efforts and a shift in U.S. vehicle sales to trucks and luxury vehicles, which have higher margins and more components, helped boost results at many automotive suppliers, analysts said.
"Trucks typically have a higher selling price with more features than cars. Additionally, there are very few 'low end' trucks compared to the compact and sub-compact segments on the car side," analyst David Leiker of Robert W. Baird & Co. said in a research report this week.
American Axle, which makes axles and driveshafts mainly for trucks, reported net earnings of $51.0 million, or a record 97 cents per share, up from $48.6 million or 92 cents per share. The results matched Wall Street forecasts of 97 cents a share, according to Reuters Research, a unit of Reuters Group Plc.
Despite lower production of new cars and trucks at former parent General Motors Corp. , American Axle's revenues grew to $913.6 million from $881.3 million. Sales were boosted by a 6.6 percent rise in the company's content per vehicle to $1,174 for the second quarter.
Both American Axle and Dura set earnings estimates for the year above Wall Street estimates.
American Axle reaffirmed that it expects to earn $3.65 per share this year. That compares to analysts' average estimate of $3.54 per share, according to Reuters Research.
Dura Chief Financial Officer David Bovee said on a conference call that he expects the company to earn $1.70 to $1.75 per share this year, above Wall Street estimates of $1.58 per share, according to Reuters Research.
Dura raised its earnings forecast this year after its net earnings grew to $10.8 million, or 58 cents a share, reversing a loss of $8.0 million, or 45 cents a share, a year ago.
The results beat estimates from three analysts, which averaged 53 cents per share and ranged from 50 cents to 55 cents per share, according to Reuters Research.
Dura's revenues fell 5 percent to $606.4 million from $638.4 million.
While high incentives have battered results at automakers, they have helped shift U.S. consumers toward more expensive trucks and luxury vehicles, which helped suppliers, analysts said.
Earnings at many suppliers, including vehicle seat provider Lear Corp. , BorgWarner Inc. and Tenneco Automotive Inc. also benefited from the stronger euro.
The two largest U.S. automotive suppliers, Delphi Corp. and Visteon Corp. , both reported disappointing results last week. Both suffered from their ties to General Motors Corp. and Ford Motor Co. .
Delphi posted a 60 percent drop in its second quarter net earnings while Visteon lost $167 million in the second quarter.
Wall Street raised its outlook on several suppliers on the expectation that an expected recovery in the U.S. economy would make new vehicle sales grow.
"People are sort of optimistic that the tax cuts and all the other stimulus in the system is going to drive new car demand going forward," said Credit Lyonnais Securities analyst Charles Brady. "We are more skeptical than that."
Shares of American Axle were up 26 cents at $29.12 on the New York Stock Exchange, while Dura was down 1 cent at $11.07 on Nasdaq.