American Axle (AXL) Misses Q3 EPS by 2c, Updates Guidance

American Axle (NYSE: AXL) reported Q3 EPS of $0.27, $0.02 worse than the analyst estimate of $0.29. Revenue for the quarter came in at $1.54 billion versus the consensus estimate of $1.49 billion.

GUIDANCE:

American Axle sees FY2022 revenue of $5.75-5.85 billion, versus the consensus of $5.84 billion.

• AAM is targeting sales in the range of $5.75 - $5.85 billion vs. $5.75 - $5.95 billion prior.
• AAM is targeting Adjusted EBITDA in the range of $745 - $765 million vs. $790 - $830 million prior.
• AAM is targeting Adjusted free cash flow of approximately $300 million vs. $300 - $350 million prior; this target assumes capital spending of approximately 3.0% - 3.5% of sales.

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

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