Accuride Reports 2015 Loss

Posted: Updated:

Evansville-based Accuride Corp. (NYSE: ACW) is reporting a net loss of $7.6 million in 2015, compared to a loss of $2.3 million the previous year. Despite the loss, Chief Executive Officer Rick Dauch said the company improved on several key financial measures last year.

The company is also reporting a fourth quarter net loss of $15.2 million, compared to a net loss of $5.1 million during the same period in 2014.

"Our investments in industry-leading technologies, such as our Steel Armor and newly-introduced EverSteel coatings, are further positioning us for success in the marketplace," said Dauch. "In 2015, we converted 50 fleets to Accuride wheels and Gunite components. We also secured or renewed five long-term agreements with key truck OEMs and three with trailer OEs, giving us a solid three- to five-year foundation from which to expand."

Accuride says net sales were down 2.8 percent in 2015. The company says the decrease was due to lower demand at its Brillion business unit and lower raw material prices.

Last week, Accuride said it had received a notice from the New York Stock Exchange that it could face suspension or delisting. The NYSE said Accuride had not maintained an average closing price of not less than $1.00 per share over a period of 30 consecutive trading days. The company says it does intend to comply with that requirement.

  • Perspectives

    • How to Find a New Audience After Hitting a Marketing Plateau

      It may sound like a marketer’s dream scenario: efforts have proven to be so successful it appears a company has completely saturated their target audience. While it may be a good problem to have, it still may be a problem. Hitting a marketing plateau is an opportunity for companies in any industry to reevaluate, re-energize and come to the table with new ideas for better understanding existing customers and engaging new audiences.



  • Most Popular Stories

    • (image courtesy of The Times of Northwest Indiana)

      Crews Start Demolition of Carson's in Hammond

      The face of downtown retail in Hammond is changing once again with the demolition of Carson’s department store, the one-time the anchor of Woodmar Mall. Our partners at The Times of Northwest Indiana report excavating crews have started to demolish the last vestige of the shopping center which stood since the 1950s. 

    • Some 'Emerging Ethical Dilemmas' Already Here

      An annual list of emerging ethical dilemmas and policy issues in science and technology has been released by the John J. Reilly Center for Science, Technology, and Values at the University of Notre Dame. It includes robotic clergy, a crime reporting app and facial recognition technology that could read emotions.

    • (image courtesy of The Times of Northwest Indiana)

      U.S. Steel Cuts Jobs, Low Price Imports Partially to Blame

      Pittsburgh-based U.S. Steel has announced it will idle its tin mill operations in East Chicago, affecting nearly 300 workers, half of which will lose their jobs. Our partners at The Times of Northwest Indiana report U.S. Steel blames the layoffs on the Del Monte food company which announced its own mass layoffs. 

    • UPDATE: Nestl√© Details Fort Wayne Layoffs

      Virginia-based Nestlé USA says only 40 employees will be laid off at the company's Fort Wayne distribution center. A spokesperson for Nestlé tells Inside INdiana Business a WARN Notice filed with the state incorrectly stated the facility would close at the end of the year, affecting nearly 70 workers.

    • (Photo courtesy Batesville Tool & Die)

      Batesville Tool & Die Acquires Tipton Company

      Batesville Tool & Die is adding to its portfolio. The metal stamping manufacturer has acquired a majority interest in Tipton-based DC Coaters LLC. Financial terms of the deal are not being disclosed.