American Axle & Manufacturing Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 04, 2023 at 08:00 am
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American Axle & Manufacturing Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 1,570.7 million compared to USD 1,438.3 million a year ago. Net income was USD 8 million compared to USD 22.9 million a year ago. Diluted earnings per share from continuing operations was USD 0.07 compared to USD 0.19 a year ago.
For the six months, sales was USD 3,064.6 million compared to USD 2,874.5 million a year ago. Net income was USD 2.9 million compared to USD 23.9 million a year ago. Diluted earnings per share from continuing operations was USD 0.02 compared to USD 0.2 a year ago.
American Axle & Manufacturing Holdings, Inc. is an automotive and mobility supplier. The Company designs, engineers and manufactures driveline and metal forming technologies to support electric, hybrid and internal combustion vehicles. The Company operates through two segments: Driveline and Metal Forming. Driveline products consist primarily of front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles (SUVs), crossover utility vehicles (CUVs), passenger cars and commercial vehicles. Its Metal Forming products consist primarily of engine, transmission, driveline and safety-critical components for traditional internal combustion engine and electric vehicle architectures including light vehicles, commercial vehicles, and off-highway vehicles, as well as products for industrial markets.