AAM Backs FY19 Sales Outlook, But Now Expected At Low End Of Range

(RTTNews) - While reporting financial results for the first quarter, American Axle & Manufacturing Holdings, Inc. or AAM (AXL) on Friday maintained its full-year 2019 guidance for sales, but said it now is trending towards the low end of its ranges.

The company said this is a result of slower than expected customer launch curves and lower anticipated production volumes for certain programs, we currently project that we are trending towards the low end of our ranges.

For fiscal 2019, the company continues to project sales in the range of $7.3 billion to $7.4 billion. The company is also targeting sales for the second quarter between $1.75 billion and $1.8 billion, contemplating customer launch timing and planned downtime.

On average, analysts polled by Thomson Reuters expect the company to report sales of $7.30 billion for the year and $1.91 billion for the second quarter. Analysts' estimates typically exclude special items.