American Axle (AXL) Tops Q4 EPS by 13c, Beats on Revenues; OFfers FY18 Revenue Outlook Above Consensus

American Axle (NYSE: AXL) reported Q4 EPS of $0.89, $0.13 better than the analyst estimate of $0.76. Revenue for the quarter came in at $1.73 billion versus the consensus estimate of $1.69 billion.

AAM's Full Year 2018 OutlookAAM is confirming its full year 2018 financial outlook:

• AAM is targeting sales of approximately $7 billion in 2018. This sales projection is based on the anticipated launch schedule of programs in AAM's new and incremental business backlog and the assumption that the U.S. Seasonally Adjusted Annual Rate of sales ("SAAR") will be in the range of 16.8 million to 17 million light vehicle units in 2018.
• AAM is targeting an Adjusted EBITDA margin in the range of 17.5% to 18.0% of sales in 2018.
• AAM is targeting Adjusted free cash flow of approximately 5% of sales in 2018.

Fourth Quarter 2017 Results

• Sales of $1.73 billion
• Net income attributable to AAM of $106.3 million or 6.1% of sales
• Diluted earnings per share of $0.93
• Adjusted earnings per share of $0.89
• Adjusted EBITDA of $295.7 million, or 17.1% of sales
• Net cash provided by operating activities of $226.3 million
• Adjusted free cash flow of $50.9 million
• Prepaid $200 million of Senior Notes due 2019

GUIDANCE:

American Axle sees FY2018 revenue of $7 billion, versus the consensus of $6.82 billion.

For earnings history and earnings-related data on American Axle (AXL) click here.

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