AAM reports Q3 2023 net loss of $17.4M; UAW strike impact ~$15M sales, $4M EBITDA; FY guidance reduced

Dauch Corp

2023-Q3 EPS reported -$0.12 revenue$4,616,500,000

Q3 sales $1.55B (flat YoY); net loss $(17.4)M vs net income $26.5M in Q3 2022.
Adjusted EBITDA $156.8M (10.1% of sales) vs $198.4M (12.9%) last year; hit by $13M warranty expense.
UAW work stoppage impacted sales by ~$15M, adjusted EBITDA by ~$4M, and EPS by ~$0.03.
Adjusted loss per share $(0.11) vs adjusted EPS $0.27 in prior year.
FY 2023 guidance: sales $6.0-$6.1B, Adj EBITDA $660-$685M; assumes production resumes early Nov.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Dauch Corp reported third quarter 2023 results: revenue $1.55 billion, net income $(17.4) million, EPS $(0.15).

Period: third quarter 2023
Revenue: $1.55 billion
Net income: $(17.4) million
EPS: $(0.15)
Result: reported results

Exact text from the filing

Third Quarter 2023 Results • Sales of $1.55 billion • Net loss of $(17.4) million, or (1.1)% of sales • Adjusted EBITDA of $156.8 million, or 10.1% of sales • Diluted loss per share of $(0.15); Adjusted loss per share of $(0.11)

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Dauch Corp reported full year 2023 results: revenue in the range of $6.0 - $6.1 billion.

Period: full year 2023
Revenue: in the range of $6.0 - $6.1 billion
Result: guidance update

Exact text from the filing

AAM's updated full year 2023 financial targets are now as follows: • AAM is targeting sales in the range of $6.0 - $6.1 billion.

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Source: SEC EDGAR

accession 0001062231-23-000061

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