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

American Axle & Manufacturing Holdings, Inc. (AXL) reported its Q2 2021 results with sales of $1.28 billion, a significant increase from $0.52 billion in Q2 2020. The company achieved net income of $16 million or $0.13 per share, reversing a net loss of $(213.2 million) in the prior year. Adjusted EBITDA stood at $222.6 million, representing 17.3% of sales. AAM forecasts full-year sales between $5.3 - $5.5 billion and adjusted EBITDA between $875 - $925 million. Despite challenges like semiconductor shortages affecting sales by $162 million, AAM remains focused on strengthening its balance sheet and investing in electrification technology.

American Axle & Manufacturing Holdings (AXL) will hold a conference call to discuss its second quarter 2021 financial results on July 30, 2021, at 10:00 a.m. ET. Prior to the call, a press release detailing the financial results will be issued before the market opens. Investors can join the call by dialing (877) 883-0383 (U.S.) or (412) 902-6506 (international), using access code 2958235. A replay will be available post-call, and the audio will also be archived on AAM's website.

AAM is a leading global automotive supplier, emphasizing quality and technology in driveline and metal forming.

DETROIT, June 16, 2021 /PRNewswire/ -- American Axle & Manufacturing Holdings (NYSE: AXL) will participate in the Deutsche Bank Global Auto Industry Conference on June 17, starting at 9:45 a.m. ET. David C. Dauch, Chairman and CEO, will discuss recent business developments.

A live audio webcast will be available on AAM's Investor Relations page, with a replay accessible post-event. AAM is a leading global automotive supplier focused on driveline and metal forming technologies. Visit aam.com for more information.

American Axle & Manufacturing (AAM) announced the passing of co-founder Mort Harris on May 7, 2021. AAM Chairman David C. Dauch expressed deep condolences, highlighting Harris's significant influence on the company's foundation. AAM was established in 1994 by Richard E. Dauch and Harris after acquiring the Final Drive and Forge business from GM. Today, AAM operates nearly 80 facilities globally with around 20,000 associates, focusing on quality and technology leadership as a top-tier automotive supplier.

American Axle & Manufacturing Holdings (AXL) reported Q1 2021 sales of $1.43 billion, up from $1.34 billion in Q1 2020. Net income reached $38.6 million or $0.33 per share, a significant turnaround from a net loss of $501.3 million in the previous year. Adjusted EBITDA was $262.9 million (18.4% of sales), despite a $64 million impact from semiconductor shortages. The company maintains its 2021 targets, projecting sales between $5.3 - $5.5 billion and adjusted EBITDA of $850 - $925 million.