Superior Reports Second Quarter 2019 Financial Results
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Superior Industries (SUP) Tops Q2 EPS by 5c, Revenues Miss; Lowers FY19 Revenue Outlook
August 8, 2019 7:06 AM EDTSuperior Industries (NYSE: SUP) reported Q2 EPS of ($0.04), $0.05 better than the analyst estimate of ($0.09). Revenue for the quarter came in at $325.5 million versus the consensus estimate of $361.86 million.
Second Quarter 2019 Highlights:
Strengthening the capital structure through principal reduction(1) of $26.1 million in the quarter supported by strong cash flowNet sales of $352.5 million, $36.5 million lower than the prior year period driven by volume, foreign exchange, and lower aluminum pricesNorth America and Europe(2) combined industry production down 5.0%; Superior Value-Added Sales(3) down 5.3%, or 2.1% excluding the impacts of foreign exchangeFavorable shift in mix... More