Component Makers Report Mixed 2Q Results

Three component manufacturers reported mixed second-quarter results compared with the same period last year.

American Axle & Manufacturing Holdings’ net income rose to $25.8 million, or 34 cents per share, from $4.7 million, or 6 cents, a year ago, when it had a $36.5 million charge related to the closure of two manufacturing plants.

Allison Transmission reported its second-quarter net income declined to $50.5 million, or 27 cents per share, compared with $412 million, or $2.28, a year ago.

Revenue fell 8% to $512 million on lower demand in the North American hydraulic fracturing market and lower U.S. defense spending, the Indianapolis-based maker of heavy duty transmissions said in a statement.

Accuride Corp. reported a second-quarter loss of $5.4 million, or 11 cents per share, compared with a loss of $800,000, or 2 cents, a year ago.

Revenue fell to $211.3 million from $268.8 a year ago, the commercial vehicle component maker said.