American Axle & Manufacturing Holdings Reiterates FY24 Sales Outlook In The Range Of $6.05B-$6.35B Vs. $6.2B Estimate; Targeting Adjusted EBITDA In The Range Of $685M-$750M
Portfolio Pulse from Benzinga Newsdesk
American Axle & Manufacturing Holdings (AXL) has reiterated its FY24 sales outlook, expecting sales between $6.05B-$6.35B, in line with the $6.2B estimate. The company also targets an Adjusted EBITDA of $685M-$750M and Adjusted free cash flow of $200M-$240M, assuming capital spending of 4.0%-4.5% of sales.
May 03, 2024 | 12:07 pm
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American Axle & Manufacturing Holdings reiterates its FY24 financial targets, maintaining sales and EBITDA forecasts, with a focus on adjusted free cash flow.
Reiterating financial targets can be seen as a positive signal to the market, indicating management's confidence in the company's performance and strategic direction. This reaffirmation, especially when in line with estimates, may bolster investor confidence in AXL's ability to meet its financial goals, potentially leading to a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100