American Axle & Manufacturing Confirms 2018 Revenue Outlook - Quick Facts

(RTTNews) - American Axle & Manufacturing Holdings, Inc. (AXL) on Friday confirmed its full-year 2018 outlook for sales of about $7 billion on U.S. Seasonally Adjusted Annual Rate of sales (SAAR) in the range of 16.8 million to 17 million light vehicle units in 2018.

On average, analysts polled by Thomson Reuters expect the company to report sales of $6.99 billion for the year. Analysts' estimates typically exclude special items.

For the first quarter, the company posted net income of $89.4 million or $0.78 per share, higher than $78.4 million or $0.99 per share in the year-ago quarter. Adjusted earnings per share for the first quarter were $0.98, compared to $1.03 a year ago. Sales for the quarter grew to $1.86 billion from $1.05 billion last year.

Analysts expected quarterly earnings of $0.82 per share on revenues of $1.75 billion.