Tower International, Inc. (TOWR) Tops Q1 EPS by 5c; FY15 Guidance Mixed
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Tower International Reports First Quarter Results, Announces Third Major New Business in Fifteen Months, and Updates Full Year Outlook
May 7, 2015 7:00 AM EDTLIVONIA, Mich., May 7, 2015 /PRNewswire/ -- Tower International, Inc. (NYSE: TOWR), a leading global manufacturer of engineered automotive structural metal components and assemblies, today announced first quarter 2015 results, another major new business award, and an updated outlook for the full year.
Revenue for the first quarter was $497 million, compared with $519 million in the first quarter 2014. At constant exchange rates, organic revenue growth was positive 4 percent. Adjusted EBITDA for the quarter was $48.1 million, compared with $51.6 million a year ago. The decline was more than explained by unfavorable... More