American Axle reports Q1 adjusted EPS 18c, consensus 2c

Reports Q1 revenue $1.61B, consensus $1.52B. “AAM is off to a good start in 2024, posting solid first quarter financial performance driven by better-than-expected volume and mix and sequential improvement in AAM’s overall performance. With just one quarter completed, we are keeping our outlook unchanged for now, but these results certainly give us added confidence in our full-year guidance.” said AAM’s Chairman and CEO, David Dauch. “Longer term, as the industry reassesses propulsion solutions, AAM will continue to develop a strong and agnostic product portfolio for both our Driveline and Metal Forming businesses to support the industry’s powertrain needs.”