Superior Industries (SUP) Reports Q1 Revenues Miss
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Superior Reports First Quarter 2020 Results
May 8, 2020 7:00 AM EDTExecuting in a Challenging Environment Â
First Quarter 2020 Financial Highlights:
Unit shipments of 4.3M; net sales of $301M Value-Added Sales(1) of $170M, growth over market of 5%(2), per wheel growth of 5%(2) Net loss of $190M, includes goodwill and intangible asset impairments of $194M(3) Adjusted EBITDA(1) of $40M; margin(4) improvement vs. prior year of +80 bps Net debt decreased by $11M from year-end and available liquidity increased to $296M Strengthened liquidity position by drawing on revolving credit facilities and by improving working capital... More