Welcome to our dedicated page for Superior Inds news (Ticker: SUP), a resource for investors and traders seeking the latest updates and insights on Superior Inds stock.
Superior Industries International Inc (NYSE: SUP) is a leading global manufacturer of aluminum wheels for original equipment manufacturers and automotive aftermarkets. This news hub provides investors and industry professionals with essential updates on SUP's operational milestones, financial performance, and market positioning.
Track official announcements including quarterly earnings reports, manufacturing innovations, strategic partnerships with automotive brands, and production facility developments. Our curated news collection offers reliable insights into SUP's role in advancing wheel technology and maintaining quality standards across its North American and European operations.
Key updates cover new OEM contracts, advancements in cast/flow-formed wheel production, sustainability initiatives, and industry recognition. Bookmark this page for direct access to SUP's latest developments impacting the automotive supply chain and investor considerations.
Superior Industries International (NYSE:SUP) has announced its compliance with NYSE listing standards after receiving a notice from the exchange on May 20, 2021. This follows a previous notification on June 9, 2020, citing non-compliance due to a global market capitalization and shareholders' equity of less than $50 million. Superior's reinstatement is attributed to improved performance aligning with its business plan and meeting NYSE requirements over the last two quarters.
Superior Industries International reported strong Q1 2021 results, with net sales of $358.2 million compared to $301.1 million in Q1 2020. Value-Added Sales rose to $207.3 million, driven by a shift to larger wheels. Gross profit increased to $43.0 million from $23.1 million, and net income reached $13.1 million versus a loss of $190.1 million in the same period last year. The company reaffirmed its 2021 guidance, expecting unit shipments between 16.9 - 17.7 million and net sales of $1.30 - $1.37 billion.
Superior Industries International (NYSE:SUP) has been nominated as a finalist for the prestigious 2021 Automotive News PACE Awards due to its innovative physical vapor deposition (PVD) technology. This environmentally friendly process provides durable, chrome-like finishes for wheels while reducing vehicle weight, enhancing fuel efficiency, and lowering CO2 emissions. The awards recognize excellence in automotive innovation and will be presented on September 30, 2021, in Detroit. Superior's commitment to sustainability and quality reinforces its market position as a leader in aluminum wheel supply.
Superior Industries International, Inc. (NYSE:SUP) will release its financial results for Q1 2021 on May 5, 2021. A conference call will follow at 8:30 AM EDT, with executives Majdi Abulaban, Timothy Trenary, and Clemens Denks leading the discussion. Participants can join the call by dialing 800-700-1722 (U.S./Canada) or +1 334-323-0501 (International) using conference ID 2810355. The call will also be accessible via the Company’s website. Superior is a leading supplier of aluminum wheels, serving both OEMs and the European aftermarket.
Superior Industries International reported 2020 revenue of $1,101 million, down from $1,372 million in 2019, impacted by COVID-19. Fourth-quarter net sales rose to $338 million from $310 million, with Value-Added Sales at $202 million. Gross profit for 2020 decreased to $66 million, down from $116 million in 2019. The company recorded a net loss of $244 million or $10.81 per share, compared to a $97 million loss in 2019. Looking ahead, Superior projects 2021 net sales between $1.30-$1.37 billion and Adjusted EBITDA of $160-$180 million.
Superior Industries International (NYSE:SUP) will announce its financial results for the fourth quarter and full year ended December 31, 2020, on March 5, 2021. The announcement will be followed by a conference call at 8:30 AM EST, led by CEO Majdi Abulaban, CFO Timothy Trenary, and VP Troy Ford. Participants can join by dialing 800-367-2403 (U.S./Canada) or +1 334-777-6978 (international) using conference ID 8857902. A live webcast will also be available on the company's website.
Superior Industries International (NYSE:SUP) announced the retirement of James S. McElya from its Board of Directors, effective at the upcoming 2021 Annual Meeting. McElya, who has served for eight years, will not seek re-election but will remain until the end of his current term. His contributions were noted as pivotal in transforming the company into a global leader in aluminum wheels. Chairman Tim McQuay and CEO Majdi Abulaban praised McElya’s leadership and mentorship, highlighting the company's resilience during the COVID-19 pandemic and ongoing plans for strong corporate governance.
Superior Industries International has appointed Michael Dorah as Senior Vice President and President for North America, effective January 11, 2021. With over 25 years of experience in operational leadership roles within the automotive sector, Dorah has a proven history of improving global manufacturing operations. Prior to this role, he served as SVP of Manufacturing Systems at Delphi Technologies and held leadership positions at Chassix and Acument Global Technologies. His expertise is expected to bolster Superior's North American operations, contributing to the company’s growth.
Superior Industries International reported its third-quarter 2020 results, highlighting net sales of $317 million, down from $352 million a year prior, amid a 10% drop in unit shipments to 4.4 million. Despite these challenges, gross profit doubled to $32 million due to cost-saving measures related to COVID-19. Adjusted EBITDA reached $47 million, and net income stood at $11 million, reversing a loss from the previous year. The company raised its free cash flow outlook for 2020, anticipating positive cash flow, while maintaining liquidity of $336 million.
