AP NEWS

Tower: 2Q Earnings Snapshot

July 31, 2018

LIVONIA, Mich. (AP) _ Tower International Inc. (TOWR) on Tuesday reported second-quarter profit of $22.4 million.

The Livonia, Michigan-based company said it had profit of $1.07 per share. Earnings, adjusted for one-time gains and costs, were $1.09 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.

The auto parts maker posted revenue of $556 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $552.2 million.

Tower expects full-year revenue of $2.17 billion.

Tower shares have climbed roughly 3 percent since the beginning of the year. The stock has climbed 25 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TOWR at https://www.zacks.com/ap/TOWR

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