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Superior Industries International, Inc. (SUP), headquartered in Southfield, Michigan, is a global leader in the design and manufacture of aluminum wheels. As one of the world's largest OEM suppliers, Superior Industries offers a comprehensive product range that includes both aluminum cast and flow-formed wheels. The company's dedication to quality and innovation has set industry standards and solidified its position as a top producer in the automotive sector.
Superior Industries operates five state-of-the-art manufacturing facilities, employing approximately 3,000 skilled professionals across the United States and Mexico. These facilities produce high-quality aluminum wheels for major vehicle platforms from leading automobile and light truck manufacturers around the world. Their key OEM customers include prestigious brands like BMW, Daimler (Mercedes-Benz, AMG, Smart), Ford, GM, Honda, Jaguar-Land Rover, Lucid Motors, Mazda, Nissan, PSA, Renault, Stellantis, Subaru, Suzuki, Toyota, VW Group (Volkswagen, Audi, SEAT, Skoda, Porsche, Bentley), and Volvo.
In addition to serving OEMs in North America and Europe, Superior Industries also caters to the European aftermarket. The company markets its aluminum wheels under recognized brands such as ATS, RIAL, ALUTEC, and ANZIO, maintaining a strong presence in this segment.
Recent achievements include the successful integration of new technologies aimed at enhancing product performance and durability. Superior Industries continues to invest in advanced manufacturing processes and sustainable practices to meet and exceed customer expectations while minimizing environmental impact.
Superior Industries is more than just a wheel manufacturer; it is a key player in the automotive industry's evolution. By continually pushing the boundaries of design, engineering, and manufacturing, the company plays a crucial role in shaping the future of mobility.
For the latest updates, financial reports, and news about Superior Industries International, Inc., visit their official website or follow their latest announcements.
Superior Industries reported its Q3 2024 financial results, highlighting both achievements and challenges. Net Sales were $322M, almost flat compared to the prior year's $323M. The company faced a Net Loss of $25M, an improvement from the $86M net loss in Q3 2023. Adjusted EBITDA rose to $41M, a 24% margin, up 200 bps YoY. SG&A expenses increased to $24M due to professional services linked to debt refinancing. Cash Flow from operating activities was a negative $3M, down from $9M. Unlevered Free Cash Flow was $9M, a $3M decrease YoY.
The company completed a debt refinancing worth $520M, strengthening its balance sheet. However, it incurred a $13M loss related to debt extinguishment. Superior revised its 2024 outlook, lowering estimates due to softer production volumes from OEMs. The revised guidance includes Net Sales of $1.25-$1.33B, Adjusted EBITDA of $146-$154M, and Unlevered Free Cash Flow of $50-$80M.
Superior Industries International (NYSE:SUP) has announced it will release its third quarter 2024 financial results on Thursday, November 7, 2024. The company will host a conference call at 8:30 AM ET on the same day to discuss the results. The call will be led by President and CEO Majdi Abulaban, CFO Dan Lee, and VP of Investor Relations Tom McGill. Participants can join via phone or webcast, with a replay available on the company's website after the call.
Superior Industries International (NYSE:SUP) has announced a comprehensive refinancing of its existing debt, extending maturities to December 2028. The company has upsized its Senior Secured Term Loan from $394 million to $520 million, with funds managed by Oaktree Capital Management and other investors providing the capital. This refinancing will enable Superior to redeem its outstanding €217,050,000 6.000% Senior Notes due 2025 and reduce total debt from $627 million to $521 million.
The refinancing strengthens Superior's balance sheet and enhances financial flexibility, supporting its long-term growth strategy. CEO Majdi Abulaban stated that with the European transformation substantially completed, Superior is well-positioned to drive profitable growth and generate long-term shareholder value.
Superior Industries International (NYSE:SUP) reported second-quarter 2024 financial results, showing a net sales decrease to $319 million from $373 million YoY due to lower aluminum costs and deconsolidation of a subsidiary. The company recorded a net loss of $11 million, widening from a loss of $0.1 million in the previous year.
Adjusted EBITDA reached $40 million with a 22% margin, down from $52 million and 26% margin YoY. Cash Flow Used by Operating Activities improved, reducing to $8 million from $28 million YoY. Unlevered Free Cash Flow was $2 million, up by $18 million YoY.
Superior is in talks to retire Senior Unsecured Notes and completed relocating production from Germany to Poland, aimed at enhancing profitability. FY 2024 outlook was revised: Net Sales $1.35-$1.41 billion, Value-Added Sales $695-$725 million, Adjusted EBITDA $150-$165 million, and Unlevered Free Cash Flow $110-$130 million.
Superior Industries International (NYSE:SUP) has announced the release date for its second quarter 2024 financial results. The company will publish the results on Thursday, August 8, 2024, followed by a conference call at 8:00 AM ET on the same day. The call will be hosted by key executives including President and CEO Majdi Abulaban, CFO Tim Trenary, and VP of Investor Relations Tom McGill.
Participants can join the call by dialing +1 786 697 3501 (U.S.) or 866 580 3963 (outside U.S.) using the conference ID 08082024. Alternatively, the call can be accessed via the company's website or through a direct webcast link. A replay of the webcast will be available on Superior's website immediately after the call concludes.
Superior Industries International, Inc. reported first quarter 2024 financial results showing a net sales decline to $316M, a net loss of $33M, and adjusted EBITDA of $31M. The company successfully exited a high-cost German manufacturing facility and is undergoing strategic transformations. Despite challenges, the company expects to generate $190M in adjusted EBITDA by the end of 2024, driving future growth and shareholder value.
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