Wheel end maker Accuride Corp. said that first quarter revenues dropped 14.4% to $77.8 million largely because of a falloff in trailer wheel hub demand. President & CEO Terry Keating said initial trailer sales projections of 178,000 at the beginning of the year have been readjusted down to about 120,000 units.
However, Accuride's sales have improved because of a strong turnaround in Class 5-7 and Class 8 demand, more than making up for the drop in trailer wheel hub sales.
"We predict that our second quarter earnings will be in line with the increase in business resulting from the improving class 5-8 and trailer build rates." Keating told Fleet Owner.
Evansville, IN-based Accuride also promoted Larry Taylor to senior vp of sales and marketing and Robert Nida to vp of technology and continuous improvement as a result of the resignation of a senior vp.