American Axle doubles 2nd quarter net income to $52.2 million

Article by Christian A., on August 5, 2014

American Axle & Manufacturing Holdings Inc. posted higher earnings in the second quarter of 2014, thanks to a surge in non-General Motors business. American Axle saw its net income for the quarter surge to $52.2 million, or 67 cents per share, on revenue of $946.9. Its net income for the year-ago period was $25.8 million on revenue of $799.6 million.

American Axle has been increasing its non-GM business, although the carmaker remains its largest customer. Its non-GM revenues surged over 33 percent in the second quarter of 2014 to $298.1 million, from $223.8 million in the same period in 2013.

The supplier said the gains in its non-GM business were thanks to support of Chrysler’s Jeep Cherokee and heavy-duty Ram pickup. Despite the higher earnings in the quarter, American Axle’s results failed to live up to analysts' expectations of 72 cents earnings per share.

David C. Dauch, chairman, president and chief executive of American Axle, remarked that the company “is energized” to continue supporting new global product and process launches during the rest of 2014 and in 2015.

If you liked the article, share on:

Comments

Recommended

TOYOTA GAZOO Racing revealed that it will be participating in the 2018 Tokyo Auto Salon with the theme “Meister's Workshop.” The company will showcase models that have been part of...
by - December 16, 2017
Infiniti has commenced sales of the new 2018 Infiniti QX80 full-size luxury sports utility vehicle. Aside from the standard specs and optional features, potential customers would want to know how...
by - December 15, 2017
If there is one thing that Pagani Automobili and Fiat have in common, it is the fact that they are Italian companies that build and assemble vehicles. There is currently...
by - December 15, 2017
It’s Star Wars fever once again, and the second installation of the trilogy sequel -- “Star Wars: The Last Jedi” -- is finally hitting theaters. Avid fans of the franchise...
by - December 15, 2017
Audi Sport is known for creating high performance versions of some Audi vehicles, with a focus on higher levels of sportiness. So far, its high-performance creations are all powered by...
by - December 14, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries