American Axle (AXL) Tops Q2 EPS by 4c
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AAM Selected as Target Supplier of Axles and Driveshafts for GM's Next Generation Full Size Truck Program
July 31, 2015 8:02 AM EDTDETROIT, July 31, 2015 /PRNewswire/ --Â American Axle & Manufacturing Holdings, Inc. (AAM), which is traded as AXL on the NYSE, today 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... More
AAM Reports Second Quarter 2015 Financial Results
July 31, 2015 8:00 AM EDTDETROIT, July 31, 2015 /PRNewswire/ --Â American Axle & Manufacturing Holdings, Inc. (AAM), which is traded as AXL on the NYSE, today reported its financial results for the second quarter of 2015.
Second Quarter 2015 Results
Second quarter 2015 sales of $1.0 billion, up 6.0% on a year-over-year basis Non-GM sales grew 15.1% on a year-over-year basis to $343.1 million Gross profit of $164.5 million, or 16.4% of sales Net income of $58.6 million, or $0.75 per share EBITDA (earnings before interest, income taxes, depreciation and amortization) of $146.9 million, or 14.6% of sales Free cash flow (net cash... More