American Axle sees FY16 SG&A expense to slightly increase y/y Says global automotive conditions to be positive in FY16. Sees FY16 SG&A expense to slightly increase y/y. Sees FY16 adjusted free cash flow roughly $170M. Comments taken from Q4 earnings conference call. In morning trading, American Axle shares rallied 18.3% to $13.90.
American Axle backs FY16 revenue view $4B, consensus $4.09B 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 17.5M-18M light vehicle units in 2016. American Axle backs FY16 adjusted EBITDA margin view 14.5%-14.75%. Backs FY16 free cash flow view of $120M-$140M. American Axle backs capital spending view of roughly 6% in 2016. Guidance taken from 8k. Reference Link