Superior Industries (SUP) Misses Q2 EPS by 5c, Revenues Beat; Lifts FY18 Revenue Outlook Above Consensus

Superior Industries (NYSE: SUP) reported Q2 EPS of $0.09, $0.05 worse than the analyst estimate of $0.14. Revenue for the quarter came in at $389 million versus the consensus estimate of $383.36 million.

• Record unit shipments of 5.6 million, up 46% year-over-year
• Record net sales of $389.0 million and Value-Added Sales of $204.4 million
• Value-Added Sales per wheel of $36.81, up 7% year-over-year
• Net income of $8.1 million; earnings per diluted share of $0.09, which includes acquisition-related items of $0.16 per diluted share
• Record Adjusted EBITDA of $57.2 million, up 94% year-over-year
• Increasing 2018 Outlook

SOUTHFIELD, Mich.--(BUSINESS WIRE)-- Superior Industries International, Inc. (“Superior” or the “Company”) (NYSE: SUP), one of the world’s leading aluminum wheel suppliers for OEMs and the European aftermarket, today reported financial results for the second quarter ended June 30, 2018.

“Our performance during the second quarter of 2018 reflects the continued execution of our plan, as we reported record Value-Added Sales and record Adjusted EBITDA driven by the addition of our European operations, strong unit shipment levels, and solid operating performance in both regions. While we are optimistic as we look forward to the remainder of the year, there is significant work ahead of us as we continue supporting our global customers with numerous product launches. Our priority is best-in-class execution while realizing additional efficiencies and capitalizing on the attractive tailwinds in our business,” commented Don Stebbins, President and Chief Executive Officer.

Mr. Stebbins concluded, “Based on our performance during the first half of 2018 and our view for the second half of the year, we are revising our full year 2018 Outlook for net sales, Adjusted EBITDA and our effective tax rate, while maintaining our Outlook for units, Value-Added Sales, capital expenditures and cash flow.”

GUIDANCE:

Superior Industries sees FY2018 revenue of $1.52-1.56 billion, versus the consensus of $1.51 billion.

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

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