Superior Industries Shares Gain Post Q4 Results, Clocks 9% Sales Growth

Superior Industries International Inc SUP reported fourth-quarter FY21 sales growth of 9% year-on-year, to $368.3 million, beating the consensus of $338.5 million.
Sales in North America rose 15.7% Y/Y to $195.4 million, and Europe increased 2.4% to $172.9 million.
The gross profit declined by 36.4% Y/Y to $21 million, with a gross margin of 5.7%.
Selling, general and administrative expenses fell 12.5% Y/Y to $14 million.
The operating margin was 1.9%, and operating income for the quarter fell 61% to $7 million.
The company held $113.5 million in cash and equivalents as of quarter-end.
Adjusted EBITDA decreased 21.3% Y/Y to $37 million.
EPS loss of $(0.48) narrowed from $(1.16) last year.
"Looking ahead, we anticipate continuing disruption throughout at least the first half of 2022 stemming from the ongoing semiconductor shortage and inflationary pressures," said CEO Majdi Abulaban.
"We also anticipate some level of disruption associated with the Russia/Ukraine conflict," he added.
Outlook: Superior Industries sees FY22 sales of $1.58 billion - $1.71 billion versus the consensus of $1.7 billion.
Price Action: SUP shares are trading higher by 14.7% at $4.60 on the last check Thursday.

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