Accuride Corp. reported a first-quarter loss but said that Class 8 vehicle orders and production are showing signs of improvement.
Its first-quarter loss widened to $15.9 million, or 34 cents a share, from $2.9 million, or 6 cents, a year ago. Sales declined to $192.5 million from $269.5 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 fell 29.2% year-over-year, while the Class 5-7 and U.S. trailer segments fell by 6.7% and 2.6%, respectively, the truck and auto component maker said.
“Although conditions in the Class 8 truck market are expected to remain soft for at least another quarter, order levels increased in the first quarter,” said CEO Rick Dauch.
“Anticipating continued healthy order levels, several of our OEM customers plan higher production activity in the second half of 2013,” he said in a statement.
Accuride makes wheels, wheel-end components and assemblies, truck body and chassis parts, and other commercial vehicle components.
