-=American Axle (AXL) reported earnings on Fri 1 Nov 2019 (b/o)

American Axle beats by $0.11, misses on revs; guides FY19 revs below consensus

Reports Q3 (Sep) earnings of $0.58 per share, excluding non-recurring items, $0.11 better than the S&P Capital IQ Consensus of $0.47; revenues fell 7.7% year/year to $1.68 bln vs the $1.71 bln S&P Capital IQ Consensus.

• Adjusted EBITDA of $265.8 million, or 15.8% of sales.

Co issues downside guidance for FY19, sees FY19 revs of ~$6.6 bln vs. $6.79 bln S&P Capital IQ Consensus.

• AAM is targeting Adjusted EBITDA in the range of $950 - $975 million.