The following is a summary of the American Axle & Manufacturing Holdings, Inc. (AXL) Q4 2023 Earnings Call Transcript:
Financial Performance:
American Axle & Manufacturing's Q4 2023 sales were $1.5 billion and full-year sales were $6.1 billion.
Adjusted EBITDA for Q4 was $169.5 million (11.6% of sales) and for the full year, it was $693.3 million (11.4% of sales).
Reported loss in both Q4 and full-year adjusted earnings per share of $0.09 per share.
The financial year ended with a positive adjusted free cash flow of $219 million, though net loss was at $19.1 million.
Business Progress:
The company partnered with DongFeng to supply final drive units for their hybrid SUV program and also started shipping EV components to VinFast.
Projected new business backlog for 2024-2026 is at approximately $600 million, with 50% coming from electrification.
They aim for 2024 sales to be between $6.05 billion to $6.35 billion, adjusted EBITDA of approximately $685 million to $750 million, and adjusted free cash flow of approximately $200 million to $240 million.
Further advancing in electrification, they plan to launch over $10 billion of next-gen full-size truck axle programs by 2030.
More details: American Axle & Mfg IR
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