American Axle & Manufacturing Narrows FY23 Sales Outlook From $5.95B-$6.25B To $6.0B-$6.1B
Portfolio Pulse from Benzinga Newsdesk
American Axle & Manufacturing has revised its FY23 sales outlook from $5.95B-$6.25B to $6.0B-$6.1B. The new outlook assumes production will resume in the first week of November following a UAW work stoppage, which is estimated to impact sales by $70-$100 million and adjusted EBITDA by $25-$40 million.
November 03, 2023 | 12:06 pm
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American Axle & Manufacturing's revised FY23 sales outlook could potentially impact its stock price. The company expects a UAW work stoppage to impact sales by $70-$100 million and adjusted EBITDA by $25-$40 million.
The company's revised sales outlook, which is lower than the previous one, could potentially lead to a decrease in its stock price. The expected impact of the UAW work stoppage on sales and adjusted EBITDA further adds to the potential negative impact on the stock price.
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