DETROIT — The national UAW strike at General Motors slashed fourth-quarter by about $186 million and full-year sales by $243 million at American Axle & Manufacturing Holdings Inc.
American Axle shares slid 14.2 percent to close at $8.77 on Friday.
The driveline and drivetrain systems supplier said in a statement Friday that the latest financial results were impacted severely by the 40-day strike, stretching from the latter part of the third quarter into the fourth quarter.
GM, a major American Axle customer, accounted for 41 percent of the parts maker’s 2018 net sales.
American Axle’s fourth-quarter net sales dropped nearly 16 percent to $1.43 billion. The company reported a fourth-quarter net loss of $454.4 million, compared with a net loss of $361.8 million in the same period last year. The fourth-quarter red ink included a loss of approximately $52 million as a result of the strike and pre-tax goodwill impairment of $440 million. The strike had a negative impact on American…