AAM Q3 sales $1.54B up 27% YoY; net income $26.5M vs loss; lowers FY 2022 guidance

Dauch Corp

2022-Q3 EPS reported $0.42 revenue$4,409,700,000

Sales $1.54B vs $1.21B YoY; net income $26.5M ($0.22 EPS) vs net loss $(2.4)M ($(0.02) loss).
Adjusted EPS $0.27 vs $0.15; Adjusted EBITDA $198.4M (12.9% of sales) vs $183.2M (15.1%).
Full-year 2022 sales guidance narrowed to $5.75-$5.85B; Adjusted EBITDA guidance lowered to $745-$765M from $790-$830M.
Adjusted free cash flow guidance reduced to ~$300M from $300-$350M; capital spending ~3-3.5% of sales.
CEO cites semiconductor and supply chain challenges; company focused on cash flow and long-term EV drive technology.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Dauch Corp reported third quarter 2022 results: revenue $1.54 billion, net income $26.5 million, EPS $0.22. Guidance lowered.

Period: third quarter 2022
Revenue: $1.54 billion
Net income: $26.5 million
EPS: $0.22
Guidance: lowered
Result: reported results

Exact text from the filing

4, 2022 -- American Axle & Manufacturing Holdings, Inc. (AAM), (NYSE: AXL) today reported its financial results for the third quarter 2022. Third Quarter 2022 Results • Sales of $1.54 billion • Net income of $26.5 million, or 1.7% of sales • Adjusted EBITDA of $198.4 million, or 12.9% of sales • Diluted earnings per share of $0.22; Adjusted earnings per share of $0.27

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Source: SEC EDGAR

accession 0001062231-22-000042

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