American Axle & Manufacturing reported sales of $1.50 billion and net income of $10.0 million for the third quarter of 2024. Adjusted EBITDA was $174.4 million, and diluted earnings per share was $0.08.
Sales of $1.50 billion
Net income of $10.0 million, or 0.7% of sales
Adjusted EBITDA of $174.4 million, or 11.6% of sales
Diluted earnings per share of $0.08; Adjusted earnings per share of $0.20
AAM's full year 2024 financial targets are as follows: AAM is targeting sales in the range of $6.1 - $6.15 billion vs. $6.1 - $6.3 billion prior. AAM is targeting Adjusted EBITDA in the range of $715 - $745 million vs. $705 - $755 million prior. AAM is targeting Adjusted free cash flow in the range of $200 - $220 million vs. $200 - $240 million prior; this target assumes capital spending of approximately 4% of sales.
Visualization of income flow from segment revenue to net income
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