American Axle & Manufacturing Holdings has cut its earnings guidance for the first quarter, blaming the impact of additional production cuts taken by its customers, Dow Jones reported.

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The news agency noted that the company had earlier expected customers’ production volumes for the major North American light truck programmes it currently supports would be 13% to 14% lower than the first quarter of 2004.


But, in a press release on Wednesday, American Axle reportedly said it now estimates that production volumes will be down 18% to 20% because of additional production cuts. Accordingly, the company expects first-quarter earnings of 25 cents to 30 cents a share.


Last month, the company predicted earnings of 40 cents to 45 cents a share for the period, Dow Jones noted.

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