American Axle forecasts full-year sales between $5.8 bln and $5.9 bln

Overview

• American Axle Q3 sales reach $1.51 bln, meeting analyst expectations

• Adjusted EBITDA for Q3 beats estimates, indicating strong operational performance

• Net income and adjusted EPS for Q3 declined year-over-year

Outlook

• AAM targets full-year sales between $5.8 bln and $5.9 bln

• AAM expects full-year Adjusted EBITDA between $710 mln and $745 mln

• AAM forecasts full-year Adjusted free cash flow between $180 mln and $210 mln

Result Drivers

• MARGIN GROWTH - AAM attributes strong year-over-year margin growth to performance improvements

• DOWLAIS COMBINATION - Progress in combination with Dowlais expected to enhance global presence and value creation

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the auto, truck & motorcycle parts peer group is "buy."

• Wall Street's median 12-month price target for American Axle & Manufacturing Holdings Inc is $7.00, about 11.9% above its November 6 closing price of $6.17

• The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release: ID:nPnYPrW1a

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)