Welcome to our dedicated page for American Axle & Mfg Hldgs news (Ticker: AXL), a resource for investors and traders seeking the latest updates and insights on American Axle & Mfg Hldgs stock.
American Axle & Manufacturing Holdings Inc (AXL) generates news primarily through quarterly earnings announcements, new business awards from automotive OEMs, manufacturing facility expansions or consolidations, and strategic developments related to electric vehicle components. As a Tier 1 automotive supplier dependent on vehicle production volumes, the company's financial performance reflects broader automotive industry trends including light truck and SUV demand, electrification adoption rates, and supply chain conditions affecting both AXL and its automaker customers.
Tracking AXL news provides insight into the automotive supply chain's health and the transition from internal combustion engines to electric powertrains. The company's business wins signal which automakers are launching new vehicle platforms and which driveline configurations those platforms will use. Quarterly results reveal how automotive production schedules, commodity costs, and operational efficiency initiatives impact supplier profitability. AXL's strategic announcements regarding electric drive unit development, facility investments, or restructuring actions indicate how the company is positioning itself for long-term industry changes.
Investors monitoring AXL benefit from understanding the automotive production cycle, supplier-OEM relationship dynamics, and the financial challenges facing traditional automotive suppliers during the industry's electrification transition. News about contract awards typically precedes revenue recognition by several years, as automotive programs move from design through validation to production. Manufacturing footprint changes reflect the company's response to shifting production geography and cost pressures. Financing activities, including debt offerings or refinancing transactions, provide context on the company's capital structure and liquidity management during a capital-intensive industry transformation.
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.
American Axle & Manufacturing Holdings (AXL) received $5 million from the U.S. Department of Energy to enhance its Electric Drive Technology. The funding will support the development of a 3-in-1 electric drive unit that integrates power electronics, the electric motor, and gearbox for improved performance and cost-effectiveness. AAM aims to lead in sustainable propulsion systems for battery electric and hybrid vehicles, emphasizing the growing demand in various market segments.
American Axle & Manufacturing (AAM) and REE Automotive have partnered to develop an electric propulsion system for e-Mobility. This collaboration includes leveraging AAM's lightweight electric drive units and advanced integration capabilities into REE's innovative REEcorner technology, which offers a fully flat EV chassis for multiple commercial applications. Prototypes are expected by the end of 2021. The merger of REE with 10X Capital Venture Acquisition Corp (VCVC) is also underway, aiming for public listing.
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