Last10K.com

Accuride Corp (ACW) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2015

Accuride Corp

CIK: 817979 Ticker: ACW
 
Investor Relations: Todd Taylor
 
Media Relations: Timothy G. Weir, APR
Email: ttaylor@accuridecorp.com
 
Email: tweir@accuridecorp.com
Phone: (812) 962-5105
 
Phone: (812) 962-5128

FOR IMMEDIATE RELEASE

Accuride Reports Increase in Profitability in Second Quarter 2015
Second Quarter 2015 results from continuing operations included:
o
Net sales of $185.4 million, up 2.1 percent year-over-year
o
Adjusted EBITDA of $25.9 million, up 11.5 percent year-over-year
o
Net Income of $0.13 per share
Maintaining 2015 earnings guidance despite reduction in revenue guidance due to Brillion
o
Aftermarket demand for aluminum wheels and Gunite components expected to help offset softer Brillion end markets

EVANSVILLE, Ind. – July 27, 2015 – Accuride Corporation (NYSE: ACW) – a leading supplier of components to the North American commercial vehicle industry – today reported strong financial results for the second quarter ended June 30, 2015, reporting increased year-over-year profitability.

Second Quarter 2015 Results
Second quarter 2015 net sales were $185.4 million, compared with $181.6 million in the same period in 2014, an increase of 2.1 percent, primarily reflecting the impact of stronger industry conditions in the Company's Wheels segment during the quarter.  Accuride's operating income was $14.2 million for the quarter, compared to operating income of $12.3 million in the second quarter of 2014.  The Company reported income from continuing operations of $6.1 million, or $0.13 per share, during the quarter, compared to income from continuing operations of $5.1 million, or $0.11 per share, in 2014.  Second quarter Adjusted EBITDA increased by 11.5 percent year-over-year to $25.9 million, or 14.0 percent of net sales, compared to $23.2 million, or 12.8 percent of net sales, in the same quarter of 2014.  As of June 30, 2015, Accuride had $30.8 million of cash plus $59.4 million in availability under its ABL Credit Facility, for total liquidity of $90.2 million.

Industry Conditions
North American commercial vehicle industry conditions remained robust in the second quarter, with truck and trailer production continuing to increase at a healthy pace.  Class 8, Class 5-7 and Trailer production grew by 20.3 percent, 0.5 percent and 13.4 percent, respectively, over 2014.  Class 8 and Trailer net orders continued to moderate in the quarter, but full-year production is expected to remain strong.  The Class 8 backlog remains high at 42 percent above year-ago levels, while the Trailer backlog is 33 percent above last year.  As a result, few Class 8 OEM production slots remain open for the remainder of the year, and many Trailer makers are completely sold out for 2015.  Demand in the medium duty segment is steady, with backlogs standing 11 percent above year-ago levels.  Fleets are generally optimistic about current industry conditions, despite some driver-shortage constraints.  U.S. freight tonnage is forecasted to steadily increase over the next several years, which will continue to drive future demand for trucks and trailers.

Second Quarter Business Segment Results

Accuride Wheels
Accuride Wheels segment net sales were $114.4 million, up $13.2 million, or 13.1 percent, from the same period in 2014, primarily due to stronger OEM demand and market share gains in the aftermarket.  Wheels' Adjusted EBITDA was $26.1 million, an increase of $5.2 million, or 24.6 percent, from the second quarter of 2014.  Accuride flexed up its expanded aluminum wheel production capacity to accommodate the increase in volume.
 

The following information was filed by Accuride Corp (ACW) on Monday, July 27, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Accuride Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Accuride Corp.

Continue

Assess how Accuride Corp's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Accuride Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2015 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (unaudited)
Condensed Consolidated Balance Sheets (unaudited) (parenthetical)
Condensed Consolidated Statements Of Cash Flows (unaudited)
Condensed Consolidated Statements Of Operations And Comprehensive Income (loss) (unaudited)
Condensed Consolidated Statements Of Stockholders' Equity (unaudited)
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (details)
Basis Of Presentation And Summary Of Significant Accounting Policies (policies)
Basis Of Presentation And Summary Of Significant Accounting Policies (tables)
Changes In Accumulated Other Comprehensive Income (loss) By Component
Changes In Accumulated Other Comprehensive Income (loss) By Component (details)
Changes In Accumulated Other Comprehensive Income (loss) By Component (tables)
Commitments And Contingencies
Commitments And Contingencies (details)
Debt
Debt (details)
Discontinued Operations
Discontinued Operations (details)
Discontinued Operations (tables)
Financial Instruments
Financial Instruments (details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (details)
Goodwill And Other Intangible Assets (tables)
Guarantor And Non-guarantor Financial Statements
Guarantor And Non-guarantor Financial Statements (tables)
Guarantor And Non-guarantor Financial Statements, Condensed Consolidated Balance Sheets (details)
Guarantor And Non-guarantor Financial Statements, Condensed Consolidated Statements Of Cash Flows (details)
Guarantor And Non-guarantor Financial Statements, Condensed Consolidated Statements Of Comprehensive Income (loss) (details)
Inventories
Inventories (details)
Inventories (tables)
Pension And Other Postretirement Benefit Plans
Pension And Other Postretirement Benefit Plans (details)
Pension And Other Postretirement Benefit Plans (tables)
Segment Reporting
Segment Reporting (details)
Segment Reporting (tables)
Segment Reporting, Asset Reconciliation (details)

Material Contracts, Statements, Certifications & more

Accuride Corp provided additional information to their SEC Filing as exhibits

Ticker: ACW
CIK: 817979
Form Type: 10-Q Quarterly Report
Accession Number: 0000817979-15-000034
Submitted to the SEC: Mon Jul 27 2015 12:52:47 PM EST
Accepted by the SEC: Mon Jul 27 2015
Period: Tuesday, June 30, 2015
Industry: Motor Vehicle Parts And Accessories

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/acw/0000817979-15-000034.htm