American Axle & Manufacturing sets 2018 targets

|About: American Axle & Manufactu... (AXL)|By:, SA News Editor

American Axle & Manufacturing (NYSE:AXL) says it's targeting sales of about $7B in 2018.

The projection is based on the anticipated launch schedule of programs in the company's new and incremental business backlog and assumes a SAAR tally of 16.8M to 17.0M vehicles in the U.S. this year.

American Axle also targets an adjusted EBITDA margin rate of 17.5% to 18.0% of sales for 2018 and adjusted free cash flow of 5% of sales.

Previously: American Axle & Manufacturing beats by $0.13, beats on revenue (Feb. 16)

AXL +5.83% premarket to $16.70.

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