American Axle (AXL) Tops Q2 EPS by 3c, misses on revenue, provides outlook

American Axle (NYSE: AXL) reported Q2 EPS of $0.12, $0.03 better than the analyst estimate of $0.09. Revenue for the quarter came in at $1.57 billion versus the consensus estimate of $1.59 billion.

AAM 2023 Financial Outlook
AAM\'s previously stated full year 2023 targets remain unchanged. AAM\'s full year 2023 financial targets are as follows:

AAM is targeting sales in the range of $5.95 - $6.25 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.

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

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