American Axle has recorded second-quarter net income down 7% to US$66.2m, although sales soared to US$1.76bn compared to US$1.03bn previously.
“AAM had an outstanding and transformational second quarter,” said AAM chairman and CEO, David Dauch. “Our financial results demonstrate the favourable impact of AAM’s recent strategic acquisitions and our ability to deliver operational excellence, technology leadership and quality on a larger, more diverse scale.
Go deeper with GlobalData
“We are off to a great start on our integration activities and look forward to driving further value through achievement of our synergy and debt reduction targets.”
AAM’s second quarter of 2017 results reflect the impact of the acquisition of Metaldyne Performance Group, completed in April this year.
AAM confirmed its full year 2017 financial outlook which includes the impact of the MPG acquisition.
The supplier is targeting sales of around US$6.1bn in 2017, which excludes MPG sales for the period between 1 January and 5 April, 2017.
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.
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 GlobalDataThe sales projection is based on the anticipated launch schedule of programmes in AAM’s new and incremental business backlog, as well as the assumption the US Seasonally Adjusted Annual Rate of sales (SAAR) will be around 17m light vehicle units in 2017.
