American Axle Reiterates FY23 Revenues Of $5.95B- $6.25B, Vs. Consensus Of $6.13B, Projects Adjusted EBITDA Of $725M-$800M
Portfolio Pulse from Benzinga Newsdesk
American Axle & Manufacturing Holdings, Inc. (AXL) has reiterated its FY23 revenue target of $5.95B-$6.25B, in line with the consensus of $6.13B. The company also projects an adjusted EBITDA of $725M-$800M and a free cash flow of $225M-$300M, assuming capital spending of 3.5%-4.0% of sales.
August 04, 2023 | 3:17 pm
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NEUTRAL IMPACT
American Axle's FY23 revenue and EBITDA projections are in line with market expectations, which could stabilize its stock price in the short term.
American Axle's FY23 revenue and EBITDA projections are in line with market expectations. This could reassure investors and stabilize the stock price in the short term, as it indicates that the company's financial performance is on track.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100