Superior Industries (SUP) Tops Q2 EPS by 8c

Superior Industries (NYSE: SUP) reported Q2 EPS of $0.52, $0.08 better than the analyst estimate of $0.44.

2016 Outlook

The Company has raised its outlook for full year 2016 unit shipment growth, net sales, value-added sales, and adjusted EBITDA, compared to the previously issued outlook. The Company maintains its previous outlook for capital expenditures and dividends for full year 2016, while adjusting its full year 2016 working capital and tax rate outlook.

• Superior expects net sales to be in the range of $710 million to $725 million, compared to the prior outlook of $690 million to $710 million.
• Superior expects value-added sales to be in the range of $395 million to $403 million, driven by expected unit shipment growth of approximately 6% to 8% and favorable product mix. This compares to the prior outlook of value-added sales of $380 million to $395 million and unit shipment growth of 3% to 6%. Value-added sales are defined as net sales less pass-through charges, primarily for the value of aluminum.
• Adjusted EBITDA is expected to be in the range of $102 million to $108 million or 25.8% to 26.8% of value-added sales, compared to the prior outlook of 24.1% to 24.8% of value-added sales or approximately $92 million to $98 million.
• Working capital is expected to be a net use of funds, compared to the prior outlook of a net source of funds.
• Capital expenditures are expected to be approximately $40 million.
• Dividends are expected to be approximately $20 million.
• The effective tax rate is expected to be in the range of 27% to 29%, compared to the prior outlook of a range of 25% to 27%.

For earnings history and earnings-related data on Superior Industries (SUP) click here.

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