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American Axle’s Net Income Jumps 38%
American Axle & Manufacturing Holdings Inc. reports its net income in the third quarter climbed to $61 million from $44 million in the same period of 2014.
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American Axle & Manufacturing Holdings Inc. reports its net income in the third quarter climbed to $61 million from $44 million in the same period of 2014.
Net sales for the Detroit-based supplier advanced 2% to $972 million. Operating income for the three-month period climbed 21% to $93 million. Results were driven by strong demand for SUVs and pickup trucks, which use the company’s driveline products.
AAM was created in 1994 from former General Motors Co. operations. The company says it generated one-third of its revenue from non-GM sales in July-September. Non-GM sales through the first three quarters of 2015 expanded nearly 13% to $994 million.
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