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

American Axle & Manufacturing Holdings (AXL) reported third-quarter 2022 sales of $1.54 billion, up from $1.21 billion in Q3 2021, driven by the Tekfor acquisition and improved volume. Net income reached $26.5 million, equating to $0.22 per diluted share, a turnaround from a net loss of $(2.4) million in Q3 2021. Adjusted EBITDA was $198.4 million, or 12.9% of sales, down from 15.1% a year prior. AAM also provided updated 2022 financial targets, projecting sales between $5.75 and $5.85 billion and Adjusted EBITDA between $745 and $765 million.

American Axle & Manufacturing (AXL) addressed recent media speculation about a potential sale, asserting that it is not engaged in discussions to sell the company. The company emphasized its commitment to its strategic plan while continuously assessing market conditions and opportunities that benefit its stakeholders. AAM's focus remains on manufacturing driveline and metal forming technologies for various vehicle types. The company expressed it would not provide further comments unless necessary.

American Axle & Manufacturing (AAM) has been selected as the new axle supplier for General Motors' next generation mid-size pickup trucks, including the Chevrolet Colorado and GMC Canyon, debuting in the 2023 model year. AAM will manufacture the axles at its Three Rivers Manufacturing Facility in Michigan. AAM's CEO, David C. Dauch, expressed enthusiasm about the partnership, highlighting the company's commitment to advancing vehicle technologies.

American Axle & Manufacturing Holdings, Inc. (AAM) (NYSE: AXL) will hold a conference call on November 4, 2022, at 10:00 a.m. ET to discuss its third-quarter financial results. A press release with the results will be issued before the market opens that day. Participants can join the call via telephone or through a live audio webcast available on AAM's investor website. The audio replay will be accessible for one week following the call. AAM designs and manufactures technologies for electric, hybrid, and internal combustion vehicles and operates nearly 85 facilities worldwide.

On September 19, 2022, American Axle & Manufacturing Holdings (NYSE: AXL) received three prestigious Automotive News PACE awards for its innovative electric drive technologies. The awards included a PACE Award for its P3 2-speed Electric Drive Technology, a PACE Innovation Partnership Award with Mercedes-AMG, and a PACEpilot Innovation to Watch accolade for the P4 Integrated 3-In-1 Wheel-End Electric Drive Unit. These honors reinforce AAM's leadership in electrification within the automotive industry, building upon prior recognitions for its electric innovations.

American Axle & Manufacturing Holdings (AXL) will participate in two major conferences: the RBC Capital Markets Global Industrials Conference on September 13 and Morgan Stanley's 10th Annual Laguna Conference on September 14. Management is expected to address significant industry trends, particularly production volatility. AAM will webcast its presentation at the Morgan Stanley conference on September 14 at 11:05 a.m. PT, accessible via the company's Investor Relations page.

American Axle & Manufacturing Holdings (NYSE: AXL) will participate in the J.P. Morgan Auto Conference on August 10, 2022. The company is scheduled to present at 8:00 a.m. ET. A live audio webcast will be accessible through the Investor Relations page on AAM's website, with a replay available after the event.

Headquartered in Detroit, AAM specializes in Driveline and Metal Forming technologies for electric, hybrid, and internal combustion vehicles, operating nearly 85 facilities across 18 countries.

American Axle & Manufacturing (AXL) reported strong second quarter 2022 results with sales of $1.44 billion, an increase from $1.28 billion in Q2 2021. Net income rose to $22.9 million, or $0.19 per share, compared to $16.0 million a year earlier. Adjusted EBITDA was $195.1 million, a 13.6% margin, down from 17.3%. The company anticipates full-year sales between $5.75 - $5.95 billion and adjusted EBITDA of $790 - $830 million. The positive impact of the Tekfor acquisition is expected in 2023.

American Axle & Manufacturing Holdings (AXL) will hold a conference call on August 5, 2022, at 10:00 a.m. ET to discuss its second quarter results. A press release detailing the financial results will be available before market opening on the same day. Participants can join via phone or listen online at www.aam.com. A replay will be available for one week following the call. AAM, a leader in automotive and mobility solutions, operates nearly 80 facilities across 17 countries.