American Axle (AXL) Tops Q1 EPS by 16c

American Axle (NYSE: AXL) reported Q1 EPS of $0.98, $0.16 better than the analyst estimate of $0.82. Revenue for the quarter came in at $1.86 billion versus the consensus estimate of $1.75 billion.

AAM is confirming its full year 2018 financial outlook:

• AAM is targeting sales of approximately $7 billion in 2018. This sales projection is based on the anticipated launch schedule of programs in AAM\'s new and incremental business backlog and the assumption that the U.S. Seasonally Adjusted Annual Rate of sales (\"SAAR\") will be in the range of 16.8 million to 17 million light vehicle units in 2018.
• AAM is targeting an Adjusted EBITDA margin in the range of 17.5% to 18.0% of sales in 2018.
• AAM is targeting Adjusted free cash flow of approximately 5% of sales in 2018.

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

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