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Jun 30, 2024
American Axle Q2 2024 Earnings Report
Reported solid second quarter results driven by volume, mix, and operational performance.
Key Takeaways
American Axle & Manufacturing Holdings, Inc. reported sales of $1.63 billion and net income of $18.2 million for the second quarter of 2024. Adjusted EPS was $0.19, and Adjusted EBITDA reached $208.4 million.
Sales reached $1.63 billion.
Net income was $18.2 million, or 1.1% of sales.
Adjusted EBITDA was $208.4 million, or 12.8% of sales.
Diluted earnings per share were $0.15; Adjusted earnings per share was $0.19.
Revenue by Segment
Forward Guidance
AAM is targeting sales in the range of $6.1 - $6.3 billion and Adjusted EBITDA in the range of $705 - $755 million.
Positive Outlook
- AAM is targeting sales in the range of $6.1 - $6.3 billion vs. $6.05 - $6.35 billion prior.
- AAM is targeting Adjusted EBITDA in the range of $705 - $755 million vs. $685 - $750 million prior.
- AAM is targeting Adjusted free cash flow in the range of $200 - $240 million.
- Targets are based on North American light vehicle production of approximately 15.8 million units.
- Targets are based on AAM's production estimates of key programs that we support.
Challenges Ahead
- Guidance is based on current customer launch schedules.
- Guidance is based on the current operating environment.
- Capital spending of approximately 4.0% of sales is assumed.
- Guidance is subject to risks related to global economic conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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