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American Axle’s First-Quarter Profits Rise 15%
American Axle & Manufacturing Holdings Inc. reports its net income in the first quarter of 2016 grew 15% to $61 million.
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American Axle & Manufacturing Holdings Inc. reports its net income in the first quarter of 2016 grew 15% to $61 million.
Sales for the period were unchanged at $969 million. AAM’s sales in terms of content per customer vehicle in North America slipped 4% to $1,611. About one-third of the company’s revenue came from sales to General Motors Co.
AAM says it will repurchase as much as $100 million of its common shares through the end of 2018.
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