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 Holdings (NYSE: AXL) will discuss its first quarter financial results on May 5, 2023, at 10:00 a.m. ET. A press release with the results will be available before the market opens on the same day on www.aam.com. Investors can participate via phone by dialing (877) 883-0383 in the U.S. or (412) 902-6506 internationally, using access code 5707548. A live audio webcast will also be available on the investor site. A replay can be accessed at (877) 344-7529 in the U.S. or (412) 317-0088 internationally until May 12, with access code 8763803. As a global Tier 1 automotive supplier, AAM specializes in Driveline and Metal Forming technologies for various vehicle types.
On March 30, 2023, American Axle & Manufacturing Holdings, Inc. (NYSE: AXL) was honored with the Overdrive award by General Motors as part of their 31st annual Supplier of the Year awards. AAM was among 16 awardees recognized for their excellence. The Overdrive award highlights key priorities such as sustainability and innovation. David C. Dauch, AAM's CEO, expressed pride in this achievement, marking their third consecutive year receiving the award. GM's Jeff Morrison commended the resilience of their suppliers during challenging times, emphasizing their commitment to sustainable innovation.
American Axle & Manufacturing Holdings (AXL) reported strong financial performance for Q4 and full year 2022. Q4 sales reached $1.39 billion, net income was $13.9 million, and adjusted EBITDA stood at $157.7 million. For the full year, sales totaled $5.80 billion with net income of $64.3 million. AAM's 2023 outlook targets sales between $5.95 billion and $6.25 billion and adjusted EBITDA of $725 million to $800 million. The company also highlights a $725 million new business backlog expected to boost electrification initiatives.
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