Accuride Corp. reported a third-quarter loss and said sales declined “reflecting macro-economic and industry conditions.”
Its third-quarter loss narrowed to $8.4 million, or 18 cents a share, from $15.8 million, or 33 cents, a year ago. Sales declined to $155.3 million from $187.3 million.
North American commercial vehicle production was lower across all segments, due to overall economic weakness, the company said, as original equipment manufacturers adjusted their build schedules downward in order to better align their operations with incoming demand.
Class 8 vehicle production declined 1.8% year-over-year but U.S. trailer segments rose by 4.6% the truck and auto component maker said.
“Weaker-than-expected North American commercial vehicle industry demand challenged us this quarter as the pick-up in volumes the industry had expected failed to materialize,” said CEO Rick Dauch.
“Results in our core business reflected headwinds from sluggish OEM production and aftermarket conditions in a market that grew increasingly competitive,” he said in a statement.