Superior Industries (SUP) Reports Q2 EPS of 12c

Superior Industries (NYSE: SUP) reported Q1 EPS of $0.12, may not compare to the analyst estimate of $0.37. Revenue for the quarter came in at $174.2 million versus the consensus estimate of $175.34 million.

2017 Outlook

Based on the current outlook for the year, Superior reaffirms its previous 2017 outlook provided on March 2, 2017. This outlook is based on Superior stand-alone and excludes any future impact from the acquisition of UNIWHEELS.

• Superior expects net sales to be in the range of $730 million to $750 million driven by unit shipments of 12.0 million to 12.25 million
• Value-added sales are expected to be in the range of $400 million to $410 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 $97 million to $105 million
• Working capital is expected to be a net use of funds
• Capital expenditures are expected to be approximately $50 million
• The effective tax rate is expected to be in the range of 25% to 28%

The Company expects North American light vehicle production to decrease 1.4% to 17.6 million units in 2017 and the Company’s resulting market share to remain stable compared to 2017.

Mr. Stebbins concluded, “Our outlook for 2017 remains relatively unchanged and reflects reasonably strong overall North American light vehicle production, albeit slightly softer than 2016. Looking forward, we are excited about the opportunities that will come from the combination of Superior and UNIWHEELS and believe it will yield positive results for all stakeholders including customers, employees, and shareholders.”

Value-added sales and adjusted EBITDA are non-GAAP financial measures. See “Non-GAAP Financial Information”. In reliance on the safe harbor provided under section 10(e) or Regulation S-K, Superior has not quantitatively reconciled differences between adjusted EBITDA presented in the 2017 outlook to net income, the most comparable GAAP measure, as Superior is unable to quantify certain amounts that would be required to be included in net income without unreasonable efforts and due to the inherent uncertainty regarding such variables. Superior also believes that such reconciliation would imply a degree of precision that could potentially be confusing or misleading to investors. However, the magnitude of these amounts may be significant.

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

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