American Axle & Manufacturing (AAM) has been recognized by the annual Fortune 500 list as one of the largest corporations in the United States. With 2017 revenue of $6.3 billion, AAM ranked 449 on this year’s list.
“AAM achieved record sales and profitability and increased scale and business diversification during 2017,” said David Dauch, AAM chairman and CEO. “We are proud to be named to the Fortune 500 list for the year.”
The Fortune 500 ranks the largest corporations by total revenues. According to Fortune, this year marks the 64th running of the list. In total, Fortune 500 companies represent two-thirds of the U.S. GDP with $12.8 trillion in revenues, $1 trillion in profits and $21.6 trillion in market value. In all, companies ranked in the Fortune 500 employ 28.2 million people worldwide.
AAM recently increased its 2018 full-year financial outlook. AAM is targeting sales of approximately $7.1 billion to $7.2 billion for 2018. This sales projection is based on the anticipated launch schedule of programs in AAM’s new and incremental business backlog and the assumption that the U.S. Seasonally Adjusted Annual Rates of Sales will be in the range of 16.8 million to 17 million light vehicle units in 2018.