Accuride Reports Third-Quarter Loss

Commercial vehicle component manufacturer Accuride Corp. reported a third-quarter loss of $17.2 million, or 36 cents per share, compared with a profit of $30.8 million, or 8 cents, a year ago.

Sales rose 35% to $240.8 million, the company said late Tuesday.

“Our third quarter results were disappointing and interrupted progress toward delivering consistent and predictable results for our shareholders,” CEO Rick Dauch said in a statement.

Accuride said its wheels business was tempered by short-notice schedule changes at select [original equipment manufacturer] customers” and that its “new aluminum capacity ramped up more slowly than planned and precluded us from filling more profitable aftermarket orders.”

While the economy remains sluggish, the commercial vehicle industry segments Accuride supplies — North American Class 5-8 vehicles, U.S. trailers, and related aftermarket channels — continue their year-over-year improvement due to a historically high fleet age, healthy trucker profitability, and strong equipment replacement demand, Accuride said.