American Axle (AXL) Misses Q4 EPS by 11c, Offers Outlook

American Axle (NYSE: AXL) reported Q4 EPS of ($0.09), $0.11 worse than the analyst estimate of $0.02. Revenue for the quarter came in at $1.24 billion versus the consensus estimate of $1.28 billion.

GUIDANCE:

American Axle sees FY2022 revenue of $5.6-5.9 billion, versus the consensus of $5.79 billion.

• AAM is targeting sales in the range of $5.6 - $5.9 billion, which includes an additional $150 - $200 million increase in index-related metal market customer pass-throughs and foreign currency versus 2021
• AAM is targeting Adjusted EBITDA in the range of $800 - $875 million
• Reflects the impact of increased R&D spending to support new programs and electrification growth opportunities
• AAM is targeting Adjusted free cash flow in the range of $300 - $375 million; this target assumes capital spending of approximately 3.5% - 4.0% of sales
• These targets are based on the following assumptions for 2022:
• North American light vehicle production of approximately 14.8 - 15.2 million units
• Current customer production and launch schedules and operating environment

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

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