American Axle (AXL) Tops Q2 EPS by 14c, Revenues Beat; Offers FY18 Revenue Guidance Above Consensus

American Axle (NYSE: AXL) reported Q2 EPS of $1.23, $0.14 better than the analyst estimate of $1.09. Revenue for the quarter came in at $1.9 billion versus the consensus estimate of $1.83 billion.

Second Quarter 2018 Results

• Sales of $1.90 billion
• Net income attributable to AAM of $151.1 million, or 7.9% of sales
• Diluted earnings per share of $1.30
• Adjusted earnings per share of $1.23
• Adjusted EBITDA of $347.9 million, or 18.3% of sales
• Net cash provided by operating activities of $222.5 million
• Adjusted free cash flow of $100.3 million

"In the second quarter of 2018, AAM achieved record quarterly sales and gross profit,\" said AAM\'s Chairman and Chief Executive Officer, David C. Dauch. \"AAM also further strengthened its financial position while focusing on exciting new product launches, including our e-AAM electric drive systems."

GUIDANCE:

American Axle sees FY2018 revenue of $7.2-7.25 billion, versus the consensus of $7.15 billion.

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

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