US: American Axle posts Q3 net income up 54% to US$47m

By Simon Warburton | 3 November 2014

American Axle has unveiled third quarter net income up 54% to US$48.6m, while sales grew 16% to US$951m.

"In the third quarter of 2014, AAM's financial results were highlighted by strong cash flow and solid profitability driven by continued sales growth and improvements in operational stability and productivity," said American Axle chairman, president and CEO, David Dauch.

"Based on our progress through the first three quarters of the year, AAM is on track to deliver more than US$100m of positive free cash flow for the full year 2014.

"AM's improved free cash flow execution is helping to reduce our balance sheet leverage and is strengthening our ability to invest in the continued development of innovative new product, process and systems technologies designed to provide our customers with measurable gains in fuel efficiency and power density, as well as improved safety, ride and handling performance."