Skip to site menu Skip to page content

Daily Newsletter

Daily Newsletter

AAM ups forecast after good Q2

Net income was $18.2m, or $0.15 per share

Graeme Roberts August 09 2024

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.

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.

Uncover your next opportunity with expert reports

Steer your business strategy with key data and insights from our latest market research reports and company profiles. Not ready to buy? Start small by downloading a sample report first.

Browse reports

Newsletters by sectors

Sportcal open-new-tab

Motor Finance open-new-tab

Just Style open-new-tab

View more newsletters

Sign up to the newsletter

 

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.
close

Sign up to the newsletter: In Brief

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.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.

close