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AXL - American Axle & Manufacturing: Growing Vehicle Production Volume Offset By Low Margins
American Axle & Manufacturing Holdings Inc.
2024-05-13 15:04:00 ET
Summary
American Axle & Manufacturing has shown strong net sales growth over the past three years, but profit margins have been under pressure.
In 1Q24, AXL reported strong top-line growth and expanded profit margins year-over-year, providing some relief.
For 2024, light vehicle production is anticipated to grow. In addition, AXL secured new business wins in the quarter. These are expected to bolster its growth outlook.
Although margins showed signs of recovery in 1Q24, it is too early to come to a conclusion. Additionally, its current net margin is low, which does not provide sufficient buffer during tough economic conditions.