American Axle (AXL) Misses Q4 EPS by 8c, Offers Guidance

American Axle (NYSE: AXL) reported Q4 EPS of ($0.07), $0.08 worse than the analyst estimate of $0.01. Revenue for the quarter came in at $1.39 billion versus the consensus estimate of $1.39 billion.

GUIDANCE:

American Axle sees FY2023 revenue of $5.95-6.25 billion, versus the consensus of $5.98 billion.

• AAM is targeting Adjusted EBITDA in the range of $725 - $800 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 $225 - $300 million; this target assumes capital spending of approximately 3.5% - 4.0% of sales.
• These targets are based on the following assumptions for 2023:
• North American light vehicle production of approximately 14.5 - 15.1 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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