Mexican Media Brands
America Axle Posts Fourth-Quarter, Full-Year Losses
American Axle & Manufacturing Holdings Inc. swung to a $362 million net loss in the final quarter of 2018, as revenue dipped 2% to $1.7 billion.
#economics
Share
American Axle & Manufacturing Holdings Inc. swung to a $362 million net loss in the final quarter of 2018, as revenue dipped 2% to $1.7 billion.
For the full year, AAM’s revenue grew 16% to $7.3 billion. But adjusted net income shifted to a $58 million loss from a $337 million profit in 2017.
The company notes that its fourth-quarter and full-year results were hurt by a non-cash goodwill impairment of $486 million related to its casting and powertrain operations.
AMM expects this year’s revenue will be between $7.2 billion and $7.3 billion. The company anticipates earnings before interest, taxes, depreciation and amortization will be unchanged at about $1.2 billion.
RELATED CONTENT
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.