American Axle & Manufacturing Holdings Inc. Provides Earnings Guidance for the Full Year of 2015 and 2016
For the full year of 2016, the company is targeting sales of $4.0 billion in 2016. This sales projection is based on the anticipated launch schedule of programs in AAM's new and incremental business backlog and the assumption that the U.S. Seasonally adjusted annual rate of sales is in the range of 17.5 million to 18.0 million light vehicle units in 2016. The company is targeting free cash flow in the range of $120 million to $140 million in 2016 and capital spending of approximately 6% in 2016.