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American Axle narrows FY25 revenue view to $5.75B-$5.95B from $5.65B-$5.95B

FY25 consensus $5.83B. AAM is targeting Adjusted EBITDA in the range of $695M-$745M vs. $665M-$745M prior. AAM is targeting Adjusted free cash flow in the range of $175M-$215M vs. $165M-$215M prior; this target assumes capital spending of approximately 5% of sales. These targets are based on the following assumptions for 2025: North American light vehicle production of approximately 14.6-15.1M units. AAM’s production estimates of key programs that we support. Excludes costs and expenses associated with the announced combination with Dowlais. Reflects AAM on a stand-alone pre-combination basis only. No changes to USMCA. Mitigation of a majority of incremental tariff costs.

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