Last $22.69 USD
Change Today +0.04 / 0.18%
Volume 258.9K
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As of 8:04 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

american axle & mfg holdings (AXL) Key Developments

American Axle & Manufacturing, Inc. Announces Executive Changes

American Axle & Manufacturing Inc. announced the new officer appointments. Nigel Francis has been appointed as Vice President, Corporate Planning. Francis joins the company having recently served as a Senior Automotive Adviser to the State of Michigan and Senior Vice President, Automotive Industry Office, Michigan Economic Development Corporation. Francis has nearly 30 years of experience in the global automotive sector, encompassing both technical and technology management, having spent the majority of his career in advanced design and engineering product development and in recent years, he has been closely involved with clean technology through hybrid and electric vehicle development. Jon R. Morrison has been appointed President, AAM North America (Vice President, AAM Corporate). Morrison joins AAM from WABCO Holdings Inc., having most recently served as Vice President Vehicle Dynamics and Controls. In Morrison's 30-year career in the automotive industry, he has held responsibilities in Finance, Manufacturing, Sales and Marketing, Engineering and global customer relationship management.

American Axle & Manufacturing Holdings Inc. Presents at Barclays Global Automotive Conference, Nov-19-2014 01:30 PM

American Axle & Manufacturing Holdings Inc. Presents at Barclays Global Automotive Conference, Nov-19-2014 01:30 PM. Venue: Barclays Headquarters, New York, New York, United States. Speakers: Michael K. Simonte, Chief Financial Officer, Chief Accounting Officer and Executive Vice President.

AAM Launches Gear Set Rebate Promotion

AAM launched a new rebate promotion for its 8.6" gear sets. The promotion begins November 1, 2014 and ends March 31, 2015. Qualifying purchases made during that time period will be eligible for a $20 Visa card. The promotion applies only to AAM 8.6" gear sets for axle ratios of 3.73, 3.42 or 4.10. These sets are designed for a variety of GM vehicles with a 10 bolt rear axle. AAM kits are packaged with the replacement parts industry in mind. Each differential gear kit contains authentic side and pinion gears that were included with the axle when the vehicle was built. Each gear set is built to withstand the high level demands in terms of noise, vibration and harshness reductions that OE vehicle manufacturers require. Net shape gears deliver the fit and performance the replacement market demands while providing a low manufacturing cost to keep the repair bill as affordable as possible.

American Axle & Manufacturing Holdings Inc. Announces Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended September 30, 2014

American Axle & Manufacturing Holdings Inc. announced unaudited consolidated earnings results for third quarter and nine months ended September 30, 2014. For the quarter, the company reported net sales of $950.8 million, operating income of $85.1 million, income before income taxes of $59.9 million, net income of $48.6 million, diluted earnings per share of $0. 63, net cash provided by operating activities of $149.2 million, purchases of property, plant & equipment of $52.5 million, EBITDA of $136.1 million compared to the net sales of $820.8 million, operating income of $67.5 million, income before income taxes of $37.7 million, net income of $31.6 million, diluted earnings per share of $0.41, net cash provided by operating activities of $69.1 million, purchases of property, plant & equipment of $56.7 million, EBITDA of $113.4 million for the same quarter a year ago. Adjusted EBITDA was $136.1 million against $119.2 million for the same period in the last year. Free cash flow was $96.9 million against $20.8 million for the same period in the last year. 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. The company reported third quarter 2014 adjusted EPS of $0.63, up from $0.41 a year ago. For the nine months period, the company reported net sales of $2,756.5 million, operating income of $237.4 million, income before income taxes of $164.0 million, net income of $134.4 million, diluted earnings share of $1.74 million, net cash provided by operating activities of $231.6 million, purchases of property, plant & equipment of $156.2 million, EBITDA of $385.3 million compared to the net sales of $2,376.0 million, operating income of $173.9 million, income before income taxes of $73.8 million, net income of $64.7 million, diluted earnings share of $0.84, net cash provided by operating activities of $102.3 million, purchases of property, plant & equipment of $178.2 million, EBITDA of $291.1 million for the same period a year ago. Adjusted EBITDA was $385.3 million against $308.1 million for the same period in the last year. Free cash flow was $83.9 million against negative free cash flow of $46.6 million for the same period in the last year. Net debt as at September 30, 2014 was $1,323.6 million.

American Axle & Manufacturing Holdings Inc. Presents at Credit Suisse 2nd Annual Global Industrials Conference, Dec-04-2014 01:15 PM

American Axle & Manufacturing Holdings Inc. Presents at Credit Suisse 2nd Annual Global Industrials Conference, Dec-04-2014 01:15 PM. Venue: Credit Suisse, One Madison Ave (between 23rd & 24th St.), New York, New York, United States. Speakers: David C. Dauch, Chairman of the Board, Chief Executive Officer, President, Chairman of Executive Committee and Member of Strategy Committee, Michael K. Simonte, Chief Financial Officer, Chief Accounting Officer and Executive Vice President.

 

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