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The latest announcement is out from American Axle ( (AXL) ).
American Axle & Manufacturing Holdings, Inc. (AAM) reported improved financial performance in the third quarter of 2024, with sales reaching $1.50 billion and a net income of $10.0 million, reversing a loss from the previous year. The company achieved an adjusted EBITDA of $174.4 million, reflecting enhanced productivity and operational efficiencies. Despite a slight dip in sales due to lower platform volumes, AAM remains focused on adapting to changing propulsion trends and anticipates 2024 sales between $6.1 billion and $6.15 billion. The company continues to leverage its comprehensive product portfolio to remain competitive in the evolving automotive landscape.
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