American Axle & Manufacturing (AAM) booked a net loss in the first quarter of 2023 of US$5.1m, or $0.04 per share versus net income of $1m, or $0.01 per share in Q1 2022.

Q1 sales were $1.49bn versus $1.44bn, favourably impacted by the Tekfor acquisition.

Adjusted EBITDA was $175.4m, or 11.7% of sales, compared to $196.1m, or 13.7% of sales, in Q1 2022.

“AAM’s financial performance in the first quarter reflects customer production shutdowns and continued supply chain volatility. That stated, we are managing what we can control,” said AAM chairman and CEO, David Dauch.

Outlook

Full year 2023 targets remain unchanged – sales in the range of $5.95bn-$6.25bn and adjusted EBITDA of $725m-$800m.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

This asseumed American light vehicle production of 14.5m-15.1m units.