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12 August 2024

Daily Newsletter

12 August 2024

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.

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Overview of Autonomous Driving Systems Market

GlobalData's latest report delivers an in-depth analysis of the global autonomous driving systems market, including actual volumes from 2019 to 2029 and volume growth projections from 2024 to 2029. Per our analysis, the global volume of AV computer system hardware is estimated at 21.6 million units in 2024 and is expected to register a CAGR of 9.7% over the forecast period.​

Buy report

Overview of Autonomous Driving Systems Market

GlobalData's latest report delivers an in-depth analysis of the global autonomous driving systems market, including actual volumes from 2019 to 2029 and volume growth projections from 2024 to 2029. Per our analysis, the global volume of AV computer system hardware is estimated at 21.6 million units in 2024 and is expected to register a CAGR of 9.7% over the forecast period.​

Buy report

Overview of Autonomous Driving Systems Market

GlobalData's latest report delivers an in-depth analysis of the global autonomous driving systems market, including actual volumes from 2019 to 2029 and volume growth projections from 2024 to 2029. Per our analysis, the global volume of AV computer system hardware is estimated at 21.6 million units in 2024 and is expected to register a CAGR of 9.7% over the forecast period.​

Buy report

Overview of Autonomous Driving Systems Market

GlobalData's latest report delivers an in-depth analysis of the global autonomous driving systems market, including actual volumes from 2019 to 2029 and volume growth projections from 2024 to 2029. Per our analysis, the global volume of AV computer system hardware is estimated at 21.6 million units in 2024 and is expected to register a CAGR of 9.7% over the forecast period.​

Buy report

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