Superior Industries (SUP) Misses Q3 EPS by 6c, Revenues Beat; Affirms FY18 Revenue Outlook

Superior Industries (NYSE: SUP) reported Q3 EPS of ($0.37), $0.06 worse than the analyst estimate of ($0.31). Revenue for the quarter came in at $347.6 million versus the consensus estimate of $345.33 million.

“Our results during the third quarter compared to last year were impacted by a number of factors, including temporarily reduced European OEM production levels associated with the Worldwide Harmonized Light Vehicle Test Procedure (“WLTP”) emission standards, softer production schedules from our OEM customers in the United Kingdom, lower aftermarket volumes, and higher energy prices in Mexico. In addition, slightly higher launch costs year-over-year associated with our new designs and finishes in North America and Europe further reduced EBITDA in the quarter,” commented Don Stebbins, President and Chief Executive Officer. “While we anticipate these factors will continue to impact our results in the fourth quarter, we believe Superior remains well-positioned to advance its strategies to capitalize on the secular trends benefitting the demand for our innovative wheel designs.”

GUIDANCE:

Superior Industries sees FY2018 revenue of $1.48-1.51 billion, versus the consensus of $1.49 billion.

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

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