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
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future