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Last $20.87 USD
Change Today +0.01 / 0.05%
Volume 1.4M
AXL On Other Exchanges
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As of 4:15 PM 08/4/15 All times are local (Market data is delayed by at least 15 minutes).

american axle & mfg holdings (AXL) Key Developments

American Axle & Manufacturing Holdings, Inc. Appoints Michael K. Simonte as President and Christopher J. May as Vice President & Chief Financial Officer, Effective August 1, 2015

American Axle & Manufacturing Holdings Inc. announced the appointment of Michael K. Simonte to President and Christopher J. May to Vice President & Chief Financial Officer effective August 1, 2015. Michael K. Simonte, has been with AAM for nearly 17 years, most recently serving as Executive Vice President & CFO and previously, Treasurer. Christopher J. May, has held positions of increasingly significant responsibility during his 21 years with the company.  He served most recently as Treasurer and previously, Assistant Treasurer.

American Axle & Manufacturing Holdings Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Full Year of 2015

American Axle & Manufacturing Holdings Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, net income was $58.6 million, or $0.75 per diluted share as compared to net income of $52.2 million, or $0.67 per diluted share, in the second quarter of 2014. Sales in the second quarter of 2015 increased approximately 6.0% to $1.0 billion as compared to $946.9 million in the second quarter of 2014. AAM's EBITDA increased over $10 million to $146.9 million, or 14.6% of sales, as compared to $136.7 million, or 14.4% of sales, in the second quarter of 2014. Net cash provided by operating activities for the second quarter of 2015 was $147.9 million. Capital spending, net of proceeds from the sale of property, plant and equipment, for the second quarter of 2015 was $47.8 million. Income before income taxes was $71.5 million against $63.5 million a year ago. Quarter financial performance was highlighted by quarterly records for sale and profit dollars, driven by sales growth that continues to outpace the industry and strong operational performance. Net debt at end of period was $1,229.8 million. For the six months, net income was $111.8 million, or $1.43 per diluted share as compared to $85.8 million, or $1.11 per diluted share in the first half of 2014. Operating income was $178.2 million as compared to $152.3 million in the first half of 2014. Net sales were $1,973.1 million against $1,805.7 million a year ago. Income before income taxes was $133.9 million against $104.1 million a year ago. Net cash provided by operating activities was $154.3 million against $82.4 million a year ago. Capital spending, net of proceeds from the sale of property, plant and equipment was $91.3 million against $95.4 million a year ago. EBITDA was $284.4 million against $249.2 million a year ago. The company is revising its sales outlook for the full year 2015 to a range of $3.9 billion - $3.95 billion, down from the initial outlook of $4.0 billion - $4.1 billion. The primary driver for this reduction in AAM's sales target for the full year 2015 is the impact of lower metal market pass-throughs and foreign currency translation. The company is targeting free cash flow for the full year 2015 of approximately $175 million. The company is raising its 2015 earnings before interest, taxes, depreciation & amortization (EBITDA) target to a range of $560 million to $575 million(approximately 14.25% to 14.5% of sales). AAM is targeting full year capital spending in the range of 4.5% to 5.0% of sales in 2015. The company expects tax rate guidance range of 15% to 20% for the full year 2015. The company expects a similar run rate of interest expense in the second half of 2015.

GM Selects American Axle & Manufacturing Holdings Inc. as Target Supplier of Axles and Driveshafts for its Next Generation Full Size Truck

American Axle & Manufacturing Holdings Inc. announced that it has been selected as target supplier to provide axles and driveshafts for GM's next generation full size truck program under GM's Strategic Sourcing Process (SSP). A key objective of the SSP is to involve critical suppliers earlier in the process of designing and developing future vehicle programs. Pending final design direction and completion of the sourcing process, AAM expects to retain approximately 75% of the sales content provided to GM for the current full size truck program. AAM expects to provide approximately 75% of the light-duty axles, 100% of the heavy-duty axles and 100% of the rear steel driveshafts for GM's next generation full size truck program. AAM does not expect to provide the aluminum driveshafts, front auxiliary driveshafts and steering linkages for GM's next generation full size truck program.

American Axle & Manufacturing Holdings Inc. to Report Q2, 2015 Results on Jul 31, 2015

American Axle & Manufacturing Holdings Inc. announced that they will report Q2, 2015 results at 10:00 AM, US Eastern Standard Time on Jul 31, 2015

American Axle & Manufacturing Holdings Inc., Q2 2015 Earnings Call, Jul 31, 2015

American Axle & Manufacturing Holdings Inc., Q2 2015 Earnings Call, Jul 31, 2015

 

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Industry Analysis

AXL

Industry Average

Valuation AXL Industry Range
Price/Earnings 9.6x
Price/Sales 0.4x
Price/Book 7.7x
Price/Cash Flow 9.4x
TEV/Sales NM Not Meaningful
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