American Axle & Manufacturing Holdings (AAM) said sales in the second quarter of 2024 were US$1.63bn compared to $1.57bn in Q2 2023, favourably impacted by volume and mix.
Net income was $18.2m, or $0.15 per share and 1.1% of sales, versus $8m, $0.07 and 0.5% respectively a year ago.
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Adjusted earnings per share in Q2 2024 was $0.19 compared to $0.12.
Adjusted EBITDA was $208.4m, or 12.8% of sales, compared with $191.6m and 12.2%.
Updated full year 2024 targets are: sales in the range of $6.1-$6.3bn vs $6.05-$6.35bn prior, adjusted EBITDA $705-$755mm ($685-$750m) based on North American light vehicle production of approximately 15.8m units.
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