American Axle (AXL) Tops Q4 EPS by 10c, Offers Guidance

American Axle (NYSE: AXL) reported Q4 EPS of ($0.09), $0.10 better than the analyst estimate of ($0.19). Revenue for the quarter came in at $1.46 billion versus the consensus estimate of $1.42 billion.

GUIDANCE:

American Axle sees FY2024 revenue of $6.05-6.35 billion, versus the consensus of $6.17 billion.

• •AAM is targeting sales in the range of $6.05 - $6.35 billion.
• •AAM is targeting Adjusted EBITDA in the range of $685 - $750 million.
• •AAM is targeting Adjusted free cash flow in the range of $200 - $240 million; this target assumes capital spending of approximately 4.0% - 4.5% of sales.

These targets are based on the following assumptions for 2024:

• •North American light vehicle production of approximately 15.8 million units.
• •AAM's production estimates of key programs that we support.
• •Current customer launch schedules and operating environment.
  

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

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