The earnings call highlighted strong operational performance and strategic wins in the electric vehicle market, as well as successful divestitures that improve financial flexibility. However, these positives were countered by declining sales, increased SG&A expenses, and challenges in North American volumes, leading to a cautious outlook for Q4.

Company Guidance

During the AXL earnings call for Q3 2024, the company provided several key financial metrics and guidance updates. AXL reported sales of $1.5 billion, adjusted earnings per share of $0.20, adjusted EBITDA of $174 million (11.6% of sales), and adjusted free cash flow of $75 million for the quarter. The company adjusted its full-year guidance, targeting sales between $6.1 billion to $6.15 billion, adjusted EBITDA of $715 million to $745 million, and adjusted free cash flow of $200 million to $220 million. They noted a year-over-year improvement in financial performance driven by productivity and operating efficiencies despite a decline in North American industry volumes by approximately 5% year-over-year and 9% sequentially. Additionally, the company highlighted a strategic divestiture of its India commercial vehicle axle business for $65 million, expected to close in Q4 2024, which will enhance its focus on light vehicle applications globally.

Strong Operational Performance

AAM delivered year-over-year financial performance driven by productivity and operating efficiencies, resulting in margin expansion despite lower sales versus last year. Adjusted EBITDA in Q3 was $174 million or 11.6% of sales.

Electric Vehicle Market Wins

AAM was awarded business to supply an electric beam axle to a Chinese OEM, with a launch scheduled for 2025. Additionally, AAM will support a European OEM with electric vehicle components, reflecting the company's capabilities in the EV market.

Favorable Sale of India Operations

AAM announced the sale of its India commercial vehicle axle business for $65 million, expected to close in Q4. The transaction is margin and leverage favorable and provides additional financial flexibility.

Balance Sheet Improvements

Net debt was reduced to $2.1 billion with an LTM adjusted EBITDA resulting in a net leverage ratio of 2.8x. The company continues to pay down debt, including $50 million on its 2026 senior notes in Q3.

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American Axle (AXL) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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AXL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 14, 2025	2024 (Q4)	-0.13 / -	-0.09	―	―	―
Nov 08, 2024	2024 (Q3)	-0.05 / 0.20	-0.11	281.82% (+0.31)
Aug 09, 2024	2024 (Q2)	0.11 / 0.19	0.12	58.33% (+0.07)
May 03, 2024	2024 (Q1)	0.02 / 0.18	-0.01	1900.00% (+0.19)
Feb 16, 2024	2023 (Q4)	-0.19 / -0.09	-0.07	-28.57% (-0.02)
Nov 03, 2023	2023 (Q3)	-0.01 / -0.11	0.27	-140.74% (-0.38)
Aug 04, 2023	2023 (Q2)	0.09 / 0.12	0.22	-45.45% (-0.10)
May 05, 2023	2023 (Q1)	-0.07 / -0.01	0.19	-105.26% (-0.20)
Feb 17, 2023	2022 (Q4)	0.01 / -0.07	-0.09	22.22% (+0.02)
Nov 04, 2022	2022 (Q3)	0.24 / 0.27	0.15	80.00% (+0.12)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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AXL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 08, 2024	$6.22	$6.77	+8.84%
Aug 09, 2024	$6.21	$6.51	+4.83%
May 03, 2024	$7.32	$7.49	+2.32%
Feb 16, 2024	$8.55	$8.28	-3.16%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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