The following is a summary of the American Axle & Manufacturing Holdings, Inc. (AXL) Q2 2024 Earnings Call Transcript:
Financial Performance:
American Axle & Manufacturing Holdings, Inc. reported Q2 2024 sales of $1.63 billion.
Adjusted earnings per share were $0.19.
Adjusted EBITDA was $208 million or 12.8% of sales.Adjusted free cash flow for the quarter was approximately $98 million.
Business Progress:
AAM has been awarded business to supply components for a global European OEM's modular vehicle platform.
Secured a contract to supply helical drive gears for an electric drive for a future EV program from a luxury European OEM.
Worked on supplying traditional axles for a next-generation full-size van program.
Opportunities:
The awarded contracts for supplying components and gears for different OEMs, emphasize AAM's strategic movement into diversified powertrain systems, including ICE, hybrid, and electric propulsion systems.
Risks:
Experienced higher-than-anticipated downtime towards the end of Q2, warning of monitoring this trend in H2.
Heavy launch schedule in the second half of the year might affect performance.
More details: American Axle & Mfg IR
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