American Axle & Mfg Hldgs Inc Stock Price, News & Analysis

American Axle & Manufacturing (AAM) will present at the Barclays Global Automotive and Mobility Tech Conference on November 18 at 1:15 p.m. ET. This event will be held virtually, and a live audio webcast can be accessed through AAM's Investor Relations page. A replay will also be available post-event. AAM, known for designing and manufacturing driveline and metal forming technologies, employs around 20,000 associates globally. For more details, visit www.aam.com.

American Axle & Manufacturing reported Q3 2021 sales of $1.21 billion, a decline from $1.41 billion in Q3 2020, impacted by a $245 million semiconductor shortage. The company incurred a net loss of $(2.4) million compared to a profit of $117.2 million a year prior. Adjusted EBITDA dropped to $183.2 million (15.1% of sales) from $297.1 million (21.0% of sales). AAM targets $5.15 - $5.25 billion in 2021 sales and $400 million in adjusted free cash flow, amidst ongoing supply chain challenges.

REE Automotive Ltd. (NASDAQ: REE) has nominated American Axle & Manufacturing (NYSE: AXL) to supply high-performance electric drive units (EDUs). AAM's innovative 3-in-1 electric drive technology will be integrated into REE's REEcorner technology, enhancing power density while reducing weight. Prototypes are expected by late 2021, with full production projected for 2024, primarily targeting a U.S.-based delivery van program. This collaboration aims to support REE's growth and commitment to a zero-emissions future through high-quality automotive technology.

On November 5, 2021, American Axle & Manufacturing (NYSE: AXL) announced a pivotal agreement with REE Automotive (NASDAQ: REE) to provide electric drive units (EDU) designed for various customer vehicle programs. These next-generation units feature a 3-in-1 technology that combines the motor, gearbox, and inverter, delivering 3,250 Nm of peak torque while weighing 25% less than competitors. Development will take place at AAM's Detroit facility, with prototypes expected by the end of 2021 and full production by 2024.

American Axle & Manufacturing (NYSE: AXL) announced that its TracRite^® differentials play a crucial role in powering the 2022 GMC HUMMER EV. The AAM TracRite EL Electronic Locking Front Differential enhances traction and performance for this electric supertruck.

The differential can lock both front wheels, allowing for maximum torque distribution, making it highly effective in various terrains. AAM aims to lead in EV technology with its innovative driveline systems, supporting advancements in vehicle performance and passenger experience.

American Axle & Manufacturing (AXL) announced Michael J. Lynch as the new President of its Driveline Business, effective Nov. 1, 2021. Lynch, who has been with AAM since 1996, previously served as Vice President, Finance and Controller. The company's CEO, David C. Dauch, expressed confidence in Lynch's leadership and experience to drive stability and innovation within the global driveline operations, particularly highlighting advancements in Electric Drive technologies. AAM operates nearly 80 facilities globally, employing about 20,000 associates.

American Axle & Manufacturing Holdings (AXL) will report its third quarter financial results on November 5, 2021. A press release will be issued before market opening and available at www.aam.com. The company will host a conference call at 10:00 a.m. ET to discuss the results. Investors can join via phone or listen to a webcast available on the company's investor relations site. A replay will be accessible until November 12, 2021.

AAM is a leading automotive supplier specializing in driveline technologies, with approximately 20,000 associates across 80 facilities in 17 countries.

American Axle & Manufacturing Holdings (NYSE: AXL) will participate in the RBC Capital Markets Global Industrials Conference on September 9, 2021, presenting at 10:40 a.m. ET. The event will be held virtually, and a live audio webcast can be accessed via AAM's Investor Relations page at www.aam.com, with a replay available post-event. AAM, headquartered in Detroit, is a top-tier automotive supplier specializing in driveline and metal forming technologies, operating nearly 80 facilities across 17 countries.

American Axle & Manufacturing Holdings, Inc. (NYSE: AXL) announced a public offering of $600 million in senior notes through its subsidiary, American Axle & Manufacturing, Inc. The offering is subject to market conditions and will be used to redeem its existing 6.25% Senior Notes due 2025. The new notes will be unconditionally guaranteed on a senior unsecured basis by Holdings and certain subsidiaries. This announcement highlights the company's focus on debt management while planning to optimize its financial standing.