American Axle (AXL) Tops Q1 EPS by 2c, Sees Trends Towards Low End of Guidance Ranges

American Axle (NYSE: AXL) reported Q1 EPS of $0.36, $0.02 better than the analyst estimate of $0.34. Revenue for the quarter came in at $1.72 billion versus the consensus estimate of $1.73 billion.

GUIDANCE:

American Axle sees FY2019 revenue of $7.3-7.4 billion, versus the consensus of $7.3 billion.

American Axle sees Q2 2019 revenue of $1.75-1.8 billion, versus the consensus of $1.91 billion.

• AAM\'s previously stated 2019 full year targets remain unchanged. As a result of slower than expected customer launch curves and lower anticipated production volumes for certain programs, we currently project that we are trending towards the low end of our ranges.
• AAM is targeting sales in the range of $7.3 to $7.4 billion in 2019.
• AAM is targeting Adjusted EBITDA in the range of $1.2 to $1.25 billion in 2019.
• AAM is targeting Adjusted free cash flow in the range of $350 to $400 million in 2019.
• Contemplating customer launch timing and planned downtime, AAM is targeting sales in the range of $1.75 to $1.8 billion and Adjusted EBITDA in the range of $270 to $280 million for the second quarter of 2019.

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

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