Welcome to our dedicated page for American Axle & Manufacturing Holdings news (Ticker: AXL), a resource for investors and traders seeking the latest updates and insights on American Axle & Manufacturing Holdings stock.
American Axle & Manufacturing Holdings, Inc. (NYSE: AXL) is a leading global Tier 1 automotive supplier headquartered in Detroit, specializing in the design, engineering, validation, and manufacturing of driveline and metal forming technologies. The company caters to a diverse range of vehicles, including light trucks, SUVs, crossover vehicles, passenger cars, and commercial vehicles.
Established over two decades ago, AAM has built a trusted reputation for delivering efficient, powerful, and innovative solutions to automotive, commercial, and industrial markets worldwide. The company operates through two primary segments: Driveline and Metal Forming, with the Driveline segment generating the majority of its revenue.
AAM is at the forefront of the automotive industry's shift towards electrification, with technologies supporting electric, hybrid, and internal combustion vehicles. The company's recent achievements include the development of an Electric Beam Axle with High-speed Motor and Integrated Inverter Driveline Technology, which has earned it recognition as a finalist for the 2023 Automotive News PACEpilot Award.
With over 80 facilities in 18 countries, AAM continues to innovate and expand its product offerings to meet evolving industry demands. Its financial results for 2023 show a strong cash flow and a commitment to sustainable mobility solutions.
AAM's strategic initiatives and participation in numerous industry conferences highlight its dedication to staying ahead in the rapidly changing automotive landscape. The company's ongoing projects focus on enhancing performance, reducing emissions, and supporting the transition to electrification, ensuring a safer and more sustainable future.
American Axle & Manufacturing (NYSE: AXL) reported Q3 2024 financial results with sales of $1.50 billion, down from $1.55 billion in Q3 2023. The company posted a net income of $10.0 million ($0.08 per share), compared to a net loss of $(17.4) million in Q3 2023. Adjusted EBITDA improved to $174.4 million (11.6% of sales) from $156.8 million last year. The company updated its 2024 guidance, targeting sales of $6.1-$6.15 billion, Adjusted EBITDA of $715-$745 million, and Adjusted free cash flow of $200-$220 million.
American Axle & Manufacturing Holdings (NYSE: AXL) announced it will host a conference call to discuss third quarter financial results on Friday, November 8, 2024, at 10:00 a.m. ET. The company will release its financial results before market opens on the same day. The call will be accessible via phone and webcast, with replay available until November 15. The earnings release will be available at www.aam.com, and the webcast can be accessed through investor.aam.com.
American Axle & Manufacturing Holdings (AAM) has announced the sale of its commercial vehicle axle business and related assets in India to Bharat Forge (BFL) for $65 million. The business being sold generated approximately $156 million in sales in the last twelve months ending June 30, 2024. The transaction includes AAM's manufacturing facilities in Pune and Chennai, as well as the Pune Engineering and Development Center.
The sale is part of AAM's strategy to focus on ICE, hybrid, and full electric passenger car, pickup truck/SUV, and van applications globally. The deal is expected to close in the fourth quarter of 2024, subject to customary closing conditions and regulatory approvals. This move aims to provide AAM with additional financial flexibility while allowing BFL to expand its product portfolio in the component sector.
American Axle & Manufacturing Holdings (AAM), trading under the ticker AXL on the NYSE, is set to participate in Morgan Stanley's 12th Annual Laguna Conference on September 12, 2024. The company will present a fireside chat at 3:45 p.m. PT, which will be webcast live through AAM's Investor Relations page.
Investors and interested parties can access the live audio webcast on AAM's website (www.aam.com). For those unable to attend the live event, a replay of the webcast will be made available after the conference. This presentation offers an opportunity for stakeholders to gain insights into AAM's current operations and future strategies.
American Axle & Manufacturing Holdings (NYSE: AXL) reported solid Q2 2024 financial results. Sales increased to $1.63 billion from $1.57 billion in Q2 2023, driven by favorable volume and mix. Net income rose to $18.2 million ($0.15 per share), up from $8.0 million ($0.07 per share) in Q2 2023. Adjusted EBITDA improved to $208.4 million (12.8% of sales) compared to $191.6 million (12.2% of sales) in Q2 2023.
AAM updated its 2024 financial outlook, targeting sales of $6.1-$6.3 billion and Adjusted EBITDA of $705-$755 million. The company also aims for Adjusted free cash flow of $200-$240 million, assuming capital spending of approximately 4.0% of sales.
American Axle & Manufacturing Holdings (NYSE: AXL) has announced its plans to release second quarter financial results on August 9, 2024. The company will host a conference call at 10:00 a.m. ET on the same day to discuss the results and other related matters. A press release detailing the results will be issued before the market opens and will be available on AAM's website.
Interested parties can participate in the call by dialing (877) 883-0383 from the United States or (412) 902-6506 from outside the country, using the access code 5418526. A live audio webcast and post-call briefing will be available on the investor relations section of AAM's website. A replay of the call will be accessible until August 16, 2024, via phone and the company's website.
American Axle & Manufacturing Holdings (NYSE: AXL) will present at Deutsche Bank's Global Auto Industry Conference on June 11, 2024, at 12:25 p.m. ET.
The live audio webcast will be accessible through the AAM's Investor Relations page on their website, with a replay available after the event.
This presentation provides a platform for AAM to highlight its recent developments and future outlook to current and potential investors.
American Axle & Manufacturing Holdings, Inc. (AAM) reported solid financial results for the first quarter of 2024, with sales of $1.61 billion, net income of $20.5 million, adjusted EBITDA of $205.6 million, and diluted earnings per share of $0.17. AAM's sales and net income improved compared to the first quarter of 2023, driven by better volume and mix. The company's full-year 2024 financial targets remain unchanged, with sales expected to be in the range of $6.05 - $6.35 billion and Adjusted EBITDA in the range of $685 - $750 million.
FAQ
What is the current stock price of American Axle & Manufacturing Holdings (AXL)?
What is the market cap of American Axle & Manufacturing Holdings (AXL)?
What does American Axle & Manufacturing Holdings, Inc. specialize in?
Where is American Axle & Manufacturing Holdings, Inc. headquartered?
What are the main segments of AAM's business?
What recent achievement has AAM been recognized for?
How many facilities does AAM operate globally?
What types of vehicles does AAM support?
What is the focus of AAM's ongoing projects?
How has AAM performed financially in 2023?
What conferences has AAM recently participated in?
What future trends is AAM addressing?
