American Axle sets 2014-2016 backlog at $900 million

Article by Anita Panait, on January 20, 2014

American Axle & Manufacturing Holdings Inc. estimates its backlog of new and incremental business in 2014-2016 at around $900 million. The estimate a year ago for American Axle’s 2013-2015 backlog was $1.25 billion. "It's not that we're not growing, it's just the way the figures settle," said Chris Son, director of investor relations for American Axle.

He said that while the numbers “look a bit different,” the company expects an 18-percent growth in 2014 over what they have predicted. The backlog represents accumulated work that has yet to be completed and includes several projects with General Motors, which had 73 percent of its business in 2012.

The company’s current backlog includes an EcoTrac disconnecting driveline system for the Jeep Cherokee as well as a rear drive module for the Cadillac ATS. The company also has plans for electric and hybrid systems for a model for Israeli-Chinese carmaker American Axle.

Around 70 percent of the backlog is for customers other than GM, with two-thirds of the backlog slated for passenger car and crossover vehicle programs. In terms of geographical locations, 70 percent of the backlog is for programs outside of US -- Brazil, China, India and Thailand.

KeyBanc Capital Markets recently wrote that the future sales forecast helped mitigate disappointment due to lower-than-expected sales figures.

According to a KeyBanc report, American Axle is expected to post sales of $3.21 billion in 2013, lower than the $3.26 billion that analysts had expected. [source: automotive news - sub. required]

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