American Axle & Manufacturing (AAM) reported a solid start to 2024 with first-quarter sales of $1.61 billion, a net income of $20.5 million, and adjusted EBITDA of $205.6 million. The company's performance was driven by better-than-expected volume and mix.
Sales reached $1.61 billion.
Net income was $20.5 million, representing 1.3% of sales.
Adjusted EBITDA totaled $205.6 million, or 12.8% of sales.
Diluted earnings per share (EPS) stood at $0.17; adjusted EPS at $0.18.
AAM's full year 2024 financial targets remain unchanged. AAM is targeting sales in the range of $6.05 - $6.35 billion, Adjusted EBITDA in the range of $685 - $750 million, and Adjusted free cash flow in the range of $200 - $240 million.
Visualization of income flow from segment revenue to net income
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