DETROIT – American Axle & Manufacturing Holdings Inc. (AAM) has reported its financial results for the first quarter of 2015.
AAM’s net income in the first quarter of 2015 was $53.2 million, or 68 cents per share as compared to net income of $33.6 million, or 44 cents per share, in the first quarter of 2014.
“AAM is off to a great start in 2015, with increased North American production volumes and improved operating efficiency driving sales growth and margin expansion,” said AAM’s Chairman, President and CEO David Dauch. “We remain focused on leveraging AAM’s technology leadership to develop innovative new products to improve the fuel efficiency, safety, ride and handling performance of our customers’ vehicle programs, while delivering on our plan to sustain strong free cash flow performance.”
AAM’s sales in the first quarter of 2015 increased approximately 12.8 percent to $969.1 million. This compared to $858.8 million in the first quarter of 2014.
In the first quarter of 2015, AAM’s net income was $53.2 million, or 68 cents per share, compared to $33.6 million or 44 cents per share in the first quarter of 2014.