American Axle Completes Q3 Earnings Season For Auto Suppliers

American Axle & Manufacturing Holdings, Inc. AXL delivered better than expected earnings for the third quarter, while revenue came in line with the estimates.

• Reports EPS of $0.78, beats by a penny.
• Delivers revenue of $1.01 billion, in line with the expectations.
• Targets sales of $3.95 billion for the full year versus analysts' estimates of $3.99 billion.
• Expects to achieve adjusted EBITDA margin of 15.25 – 15.5 percent in 2016.

Separately, the company announced acquisition of Metadyne Performance Group Inc. MPG for $1.6 billion in cash and $1.7 billion assumed debt.

Chairman and CEO David Dauch said, "AAM's third quarter financial results continued to reflect strong production volumes and solid performance in our global manufacturing operations. Our year-to-date financial performance positions AAM to achieve record sales and profit in 2016."

The following auto parts companies have reported their earnings:

• Delphi Automotive PLC DLPH reported adjusted EPS of $1.50 on sales of $4.1 billion.
• Lear Corp. LEA revealed adjusted EPS of $3.19 on revenue of $4.526 billion.
• BorgWarner Inc. BWA reported adjusted EPS of $0.78 on sales of $2.21 billion.
• Visteon Corporation VC reported EPS of $0.81 on revenue of $770 million.
• Tenneco Automotive Inc. TEN revealed adjusted EPS of $1.53 on revenue of $2.1 billion.
• Dana Inc. DAN reported adjusted EPS of $0.49 on sales of $1.38 billion.