Superior Industries (SUP) Misses Q3 EPS by 58c, Beats on Revenues; 'Reaffirming 2017 Net Sales, Value-Added Sales, and Adjusted EBITDA Outlook'

Superior Industries (NYSE: SUP) reported Q3 EPS of ($0.22), $0.58 worse than the analyst estimate of $0.36. Revenue for the quarter came in at $331.4 million versus the consensus estimate of $316.2 million.

2017 Outlook

Superior is reaffirming its previously issued outlook for full year 2017 for net sales, value-added sales, Adjusted EBITDA, capital expenditures, and working capital. UNIWHEELS’ financials are assumed to be translated at an exchange rate of 1.16 EUR/USD for the fourth quarter of 2017.

• Superior expects net sales to be in the range of $1,095 million to $1,115 million driven by unit shipments of 16.9 million to 17.2 million.
• Superior expects value-added sales to be in the range of $595 million to $615 million. 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 $135 million to $145 million.
• Capital expenditures are expected to be approximately $85 million.
• Working capital is expected to be a slight source of funds.
• Taxes are expected to be a net benefit for the year.
• Interest expense will be approximately $40 million for the year.

Consolidated Third Quarter 2017 Highlights:

• Unit shipments of 5.0 million
• Net sales of $331.4 million; value-added sales of $187.4 million
• Value-added sales per wheel of $37.43 during the quarter
• Net income of $2.6 million, including the impact from acquisition costs of $5.1 million
• Adjusted EBITDA of $43.0 million
• Reaffirming 2017 net sales, value-added sales, and adjusted EBITDA outlook

GUIDANCE:

Superior Industries sees FY2017 revenue of $1.095-1.115 billion, versus the consensus of $1.1 billion.

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

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