AAM sales in the third quarter of 2022 were up to US$1.54bn versus $1.21bn in Q3 2021.

Q3 sales were “favourably impacted” by the recent Tekfor acquisition and volume and mix, the supplier said in a statement.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Net income rose to $26.5m, or $0.22 per share, an improvement from the year ago net loss of $2.4m or $(0.02) per share.

Adjusted EBITDA was $198.4m, or 12.9% of sales, versus $183.2m (15.1%).

Updated outlook

See Also:

The supplier is now targeting sales in the range of $5.75bn-$5.85bn versus $5.75bn-$5.95bn previously. Adjusted EBITDA is pegged lower at $745m-$765m versus the previous $790m-$830m.

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
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

AAM said in a statement: “In addition to normal production seasonality, we expect the fourth quarter operating environment to be similar to that experienced in the third quarter, including the continuation of higher than previously anticipated volatility in truck production.”

Separately, the commercial vehicle driveline specialist earlier dismissed media reports it was in sale talks.

“While our long-standing policy is to not publicly comment on market rumors and media speculation, we feel it is important to state that we are not engaged in any discussions to sell the company and that we are not otherwise for sale,” it said in a statement.

“In the ordinary course of executing on our strategic plan, we continuously monitor market conditions and assess industry developments and we regularly consider strategic opportunities that serve the best interests of the company (including our customers and associates) and its shareholders.”

No further comment would be forthcoming.