EXHIBIT 99.1
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AAM Reports Fourth Quarter and Full Year 2019 Financial Results

DETROIT, February 14, 2020 -- American Axle & Manufacturing Holdings, Inc. (AAM), (NYSE: AXL) today reported its financial results for the fourth quarter and full year 2019. AAM also provided its full year 2020 financial outlook and 2020-2022 new business backlog.
Fourth Quarter 2019 Results
Sales of $1.43 billion
Net loss attributable to AAM of $454.4 million, or (31.8)% of sales, which includes the impact of a pre-tax goodwill impairment of $440.0 million
Adjusted EBITDA of $193.5 million, or 13.5% of sales
Diluted loss per share of $4.04; Adjusted earnings per share of $0.13
Net cash provided by operating activities of $181.0 million; Adjusted free cash flow of $116.5 million
AAM's fourth quarter financial results were unfavorably impacted by a work stoppage at our largest customer (GM work stoppage)
Full Year 2019 Results
Sales of $6.53 billion
Net loss attributable to AAM of $484.5 million, or (7.4)% of sales, which includes the impact of pre-tax impairment charges of $665.0 million
Adjusted EBITDA of $970.3 million, or 14.9% of sales
Diluted loss per share of $4.31; Adjusted earnings per share of $1.62
Net cash provided by operating activities of $559.6 million; Adjusted free cash flow of $207.8 million
AAM's full year financial results were unfavorably impacted by the GM work stoppage

“AAM delivered solid operating and cash flow performance in 2019, as we adjusted our operations for lower global production volumes and the GM work stoppage,” said AAM’s Chairman and Chief Executive Officer, David C. Dauch. “In 2020, we are focused on further free cash flow generation and debt reduction while continuing to invest in advanced propulsion technologies to drive future profitable growth for AAM.”
AAM's sales in the fourth quarter of 2019 were $1.43 billion as compared to $1.69 billion in the fourth quarter of 2018. AAM's sales for full year 2019 were $6.53 billion as compared to $7.27 billion for full year 2018. AAM estimates that our sales for the fourth quarter and full year 2019 were unfavorably impacted by the GM work stoppage by approximately $186 million and $243 million, respectively.
AAM's net loss in the fourth quarter of 2019 was $454.4 million, or $4.04 per share, as compared to a net loss of $361.8 million, or $3.24 per share in the fourth quarter of 2018. AAM's net loss for full year 2019 was $484.5 million, or $4.31 per share, as compared to a net loss of $57.5 million, or $0.51 per share, for full year 2018.
AAM defines Adjusted earnings per share to be diluted earnings per share excluding the impact of restructuring and acquisition-related costs, debt refinancing and redemption costs, (gain) loss on sale of business, impairment charges, pension settlements and non-recurring items, including the tax effect thereon. Adjusted earnings per share in the fourth quarter of 2019 were $0.13 compared to $0.45 in the fourth quarter of 2018. Adjusted earnings per share for full year 2019 were $1.62 compared to $3.28 for full year 2018.
AAM estimates that our net loss in the fourth quarter of 2019 was unfavorably impacted by the GM work stoppage by approximately $52 million, or $0.47 per share. AAM estimates that our net loss for full year 2019 was unfavorably impacted by the GM work stoppage by approximately $66 million, or $0.59 per share.

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The following information was filed by American Axle Manufacturing Holdings Inc (AXL) on Friday, February 14, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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