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Actionable news in AXL: AMERICAN AXLE & MANUFACTURING HOLDINGS Inc,

American Axle Completes Q3 Earnings Season For Auto Suppliers

American Axle AXL 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:

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