Accuride posts strong 1Q results

As truck wheel and component maker Accuride Corp. digests its recent acquisition of Transportation Technologies Industries, it’s reporting strong pro forma first quarter results. Net income rose to $20 million on sales of $359.9 million, compared to net income of $200,000 on sales of $272.6 million in the same quarter last year.

“Our results reflect continuing strength in the commercial vehicle industry, with class five through eight truck and trailer builds up 7% over the prior year,” said Terry Keating, Accuride’s CEO. “For the remainder of the calendar year, we expect revenue to be driven by strong market demand, but we expect to experience some margin pressure from rising raw material costs.”