Trending
Stocks.org
You are at:»»Accuride Corporation (NYSE:ACW) Beats Street On EPS And Revenues; Shares Up More Than 8%

Accuride Corporation (NYSE:ACW) Beats Street On EPS And Revenues; Shares Up More Than 8%

520
By on Company

Accuride Corporation (NYSE:ACW) has reported Q2 results that beat the Street view on EPS and revenues, up from a year-ago loss, and has increased full-year net sales guidance.

The automotive component supplier reported Q2 EPS of $0.11, up from a loss of $0.11 per share in Q2 2013 and beating analyst estimates of $0.00. Net sales from continuing operations were $181.57 million, up from $179.94 million in the same period in 2013 and beating analyst expectations of $180.93 million.

“Based on the expectation of continued strengthening in our commercial vehicle end markets and additional incremental new business, we are increasing our guidance range for 2014 net sales to $675 million to $700 million,” said Accuride Chief Financial Officer Greg Risch. “We also are increasing our full-year adjusted EBITDA guidance range by $10 million to $70 million to $80 million, due primarily to the impact of expected increase in net sales and business unit operating improvements.”

This revised 2014 guidance is based on projected North American Class 8 production levels in the range of 280,000 to 290,000 units, North American Class 5-7 production levels in the range of 210,000 to 215,000 units and North American Trailer production in the range of 250,000 to 260,000 units. Accuride expects net sales for its Brillion business unit to be approximately 5% higher than 2013, while its end markets are still not expected to recover until 2015-16. Shares of ACW are up $0.43, or 8.65%, at $5.40 within a 52-week range of $3.10 – $6.09.

Get Free Updates and Stock Alerts!



*We only send one email per week
Share.

Related Posts

Get Winning Stock Alerts!

Our track record speaks for itself! Our last 7 alerts have delivered combined gains in excess of 300% and there are no signs of slowing down. Join UltimateStockAlerts.com now before you miss out on our next big runner!

We will never sell or share your information.
Close