American Axle (AXL) Tops Q1 EPS by 16c, Offers Guidance

American Axle (NYSE: AXL) reported Q1 EPS of $0.18, $0.16 better than the analyst estimate of $0.02. Revenue for the quarter came in at $1.61 billion versus the consensus estimate of $1.53 billion.

GUIDANCE:

American Axle sees FY2024 revenue of $6.05-6.35 billion, versus the consensus of $6.2 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.

You May Also Be Interested In

• DocGo (DCGO) Misses Q2 EPS by 6c; Offers Guidance
• Flexsteel (FLXS) Tops Q4 EPS by 24c, Beats on Revenue; Offers Q1 Revenue Guidance
• Is Treasury selloff a major issue for stock market bulls?