American Axle & Manufacturing (AXL)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	-24,500	6,800	47,000	57,200	66,300	-300	-37,100	-42,200	1,200	99,700	210,400	-65,100	-610,500	-1,126,300	-1,385,600	-1,070,000	-533,400	-517,800	-277,900	-183,300
Revenue (ttm)	US$ in thousands	6,082,900	5,993,300	5,982,700	5,857,600	5,803,400	5,698,900	5,340,500	5,177,100	5,158,900	5,356,300	5,579,500	4,808,200	4,722,100	4,702,800	4,965,800	6,209,400	6,644,200	6,735,600	6,934,600	7,131,200
Pretax margin		-0.40%	0.11%	0.79%	0.98%	1.14%	-0.01%	-0.69%	-0.82%	0.02%	1.86%	3.77%	-1.35%	-12.93%	-23.95%	-27.90%	-17.23%	-8.03%	-7.69%	-4.01%	-2.57%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-24,500K ÷ $6,082,900K
= -0.40%

American Axle & Manufacturing Holdings Inc's pretax margin has shown fluctuations over the past year across various quarters, with both positive and negative values observed. In Q4 2023, the pretax margin was at a negative 0.40%, indicating that the company incurred a loss before taxes during that period. This was a decline from the previous quarter's pretax margin of 0.11%.

Throughout the year, the pretax margin ranged from negative 0.82% in Q1 2022 to a peak of 1.14% in Q4 2022. The trend in pretax margin improved from negative figures in the first two quarters of 2022 to positive values in the latter half of the year, albeit with some fluctuations.

It is critical for stakeholders to closely monitor the company's pretax margin performance as it provides insight into the company's ability to generate profits before accounting for taxes and can reflect the efficiency of its cost management and revenue generation strategies.