Metaldyne Performance Group (MPG) Tops Q1 EPS by 15c
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MPG Reports 2016 First Quarter Results; Announces $0.55 Adjusted EPS and Re-affirms Guidance for 2016
May 5, 2016 6:01 AM EDTSOUTHFIELD, Mich., May 5, 2016 /PRNewswire/ --Â Metaldyne Performance Group Inc. (NYSE: MPG), a leading provider of highly-engineered components for use in powertrain and safety-critical platforms for the global light, commercial and industrial vehicle markets, today reported the following financial results for its first quarter ended April 3, 2016.
First Quarter Financial Highlights:
Net sales of $739.5 million, compared to $765.2 million in Q1 2015 Gross profit was $136.5 million for the quarter, an increase of 6% from Q1 2015 Net income attributable to stockholders was $24.9 million resulting in Diluted EPS of $0.36 Adjusted Net... MoreMPG to Exit its Wheel Bearing Business
May 5, 2016 6:00 AM EDTSOUTHFIELD, Mich., May 5, 2016 /PRNewswire/ -- Metaldyne Performance Group Inc. (NYSE: MPG), a leading provider of highly-engineered components for use in powertrain and safety-critical applications for the global light, commercial and industrial vehicle markets, announced the exit of its wheel bearing business in Sandusky, Ohio (the "Business"). MPG, in coordination with its customers and suppliers, anticipates an orderly wind-down and exit of the Business operations by late 2016 or early 2017.
The Business was acquired by a subsidiary of HHI Group Holdings, Inc (the predecessor of MPG) in 2008 and specializes in the... More
