Superior Industries Intl Stock (NYSE: SUP)

Superior Industries Intl (NYSE:SUP) Stock

Superior Industries Intl

Superior Industries International Inc is engaged in the design and manufacture of aluminum wheels for sale to OEMs in North America and Europe and to the aftermarket in Europe. The company's OEM aluminum wheels are primarily sold for factory installation on vehicle models manufactured by BMW (including Mini), 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. It sells aluminum wheels to the European aftermarket under the brands ATS, RIAL, ALUTEC, and ANZIO.

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Superior Industries International, Inc. Common Stock (DE)

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Superior Industries International shares are trading lower after the company reported worse-than-expected Q3 financial results and cut its FY24 net sales outlook below estimates.

Superior Industries International Lowers FY24 Outlook: Sees Net Sales Of $1.25B-$1.33B Vs. $1.38B Estimate (Prior View: $1.35B-$1.41B)

Superior Industries Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUP#NYSE">SUP</a>) reported quarterly losses of $(1.24) per share which missed the analyst consensus estimate of $(0.15) by 726.67 percent. The company reported quarterly sales of $321.800 million which missed the analyst consensus estimate of $337.320 million by 100.00 percent. This is a 100.00 percent decrease over sales of $323.100 million the same period last year.

Earnings

Earnings Misses

Superior Industries Intl Q3 2024 GAAP EPS $(1.24) Misses $(0.15) Estimate, Sales $321.800M Miss $337.320M Estimate

Enhancing Financial Flexibility For Growth Strategy Execution And Long-Term Shareholder Value

Superior Industries Announces Refinancing Of Senior Secured Term Loan To $520M And Redemption Of €217M Senior Notes Due 2025; Reduces Total Debt From $627M To $521M

2024&nbsp;Outlook
Superior&#39;s full year 2024&nbsp;Outlook&nbsp;is as follows:
<table cellspacing="0">
<tbody>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">FY 2024&nbsp;Outlook</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">Net Sales</td>
<td colspan="1" rowspan="1">$1.35&nbsp;-&nbsp;$1.41 billion</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">Value-Added Sales</td>
<td colspan="1" rowspan="1">$695&nbsp;-&nbsp;$725 million</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">Adjusted EBITDA</td>
<td colspan="1" rowspan="1">$150&nbsp;-&nbsp;$165 million</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">Unlevered Free Cash Flow</td>
<td colspan="1" rowspan="1">$110&nbsp;-&nbsp;$130 million</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">Capital Expenditures</td>
<td colspan="1" rowspan="1">~$40 million</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
</tbody>
</table>
Superior is updating its&nbsp;Outlook&nbsp;to reflect the remainder of the full year 2024. Net Sales changed due to lower aluminum costs and lower anticipated production volumes by OEMs. Value-Added Sales were lowered due to lower anticipated production volumes by OEMs. Adjusted EBITDA was lowered due to lower anticipated production volumes. Unlevered Free Cash Flow estimates remain unchanged, as lower anticipated production volumes should be offset by other actions. As the Company has successfully lowered the capital intensity of the business, Superior is reducing its expectations for full year capital expenditures.

Guidance

Superior Industries International Sees FY24 Net Sales Of $1.35B-$1.41B (Prior 1.38B-$1.48B) Vs $1.371B Est.

Superior Industries Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUP#NYSE">SUP</a>) reported quarterly losses of $(0.75) per share which missed the analyst consensus estimate of $(0.49) by 53.06 percent. The company reported quarterly sales of $319.000 million which missed the analyst consensus estimate of $361.074 million by 11.65 percent. This is a 14.39 percent decrease over sales of $372.600 million the same period last year.

Superior Industries Intl Q2 2024 GAAP EPS $(0.75) Misses $(0.49) Estimate, Sales $319.000M Miss $361.074M Estimate

2024 Outlook
Superior's full year 2024 Outlook is as follows:
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">FY 2024 Outlook</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">Net Sales</td>
<td colspan="1" rowspan="1">$1.38 - $1.48 billion</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">Value-Added Sales</td>
<td colspan="1" rowspan="1">$720 - $770 million</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">Adjusted EBITDA</td>
<td colspan="1" rowspan="1">$155 - $175 million</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">Unlevered Free Cash Flow</td>
<td colspan="1" rowspan="1">$110 - $130 million</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">Capital Expenditures</td>
<td colspan="1" rowspan="1">~$50 million</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td>&nbsp;</td>
</tr>
</tbody>
</table>
</figure>
Value-Added Sales, Adjusted EBITDA, and Unlevered Free Cash Flow are Non-GAAP measures, as defined below. In reliance on the safe harbor provided under section 10(e) of Regulation S-K, Superior has not quantitatively reconciled from Net Income (the most comparable GAAP measure) to Adjusted EBITDA, Net Sales (the most comparable GAAP measure) to Value-Added Sales, nor Cash Flow Provided by Operating Activities (the most comparable GAAP measure) to Unlevered Free Cash Flow presented in the 2024 Outlook, as Superior is unable to quantify certain amounts included in Net Income, Net Sales and Cash Flow Provided by Operating Activities without unreasonable efforts and due to the inherent uncertainty regarding such variables. Superior also believes that such reconciliation would imply a degree of precision that could potentially be confusing or misleading to investors. However, the magnitude of these amounts may be significant.

Superior Industries International Sees FY24 Net Sales 1.38B-$1.48B Vs $1.38B Est.

Superior Industries Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUP#NYSE">SUP</a>) reported quarterly losses of $(0.75) per share which beat the analyst consensus estimate of $(0.85) by 11.76 percent. The company reported quarterly sales of $316.300 million which missed the analyst consensus estimate of $348.339 million by 9.20 percent. This is a 16.98 percent decrease over sales of $381.000 million the same period last year.

Earnings Beats

Superior Industries Intl Q1 2024 Adj EPS $(0.75) Beats $(0.85) Estimate, Sales $316.300M Miss $348.339M Estimate

As of April 9, 2024, three stocks in the consumer discretionary sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi"> RSI is above 70</a>, according to <a href="https://pro.benzinga.com/"> Benzinga Pro</a>.
Here&rsquo;s the latest list of major overbought players in this sector.
<h3>Superior Industries International, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sup#NYSE">SUP</a>)</h3>
<ul>
<li>On March 7, Superior Industries Intl reported worse-than-expected fourth-quarter financial results. &quot;Our teams demonstrated incredible resilience in 2023 as we navigated a challenging operating environment that significantly weighed on our financial results. Despite these near-term headwinds, including softness in the European aftermarket, the impact of the UAW strikes, declines in production amongst key customers in the second half of the year, and the impact of the strategic action initiated in Europe to transform our European business, we remained focused on optimizing our business,&quot; commented Majdi Abulaban, President and Chief Executive Officer of Superior. The company&rsquo;s stock gained around 47% over the past five days and has a <a href="https://www.benzinga.com/quote/SUP">52-week high of $5.22 </a>.</li>
<li>RSI Value: 83.94</li>
<li>SUP Price Action: Shares of Superior Industries gained 20% to close at $4.26 on Monday.</li>
</ul>
<h3>Sweetgreen, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sg#NYSE">SG</a>)</h3>
<ul>
<li>On April 5, Oppenheimer maintained an Outperform rating on the stock and raised its price target from $17 to $34. The company&rsquo;s stock gained around 33% over the past month and <a href="https://www.benzinga.com/quote/SG"> has a 52-week high </a> of $26.45.</li>
<li>RSI Value: 70.55</li>
<li>SG Price Action: Shares of Sweetgreen fell 1.1% to close at $25.13 on Monday.</li>
</ul>
<h3>SharkNinja, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sn#NYSE">SN</a>)</h3>
<ul>
<li>On April 4, JP Morgan analyst Andrea Teixeira initiates coverage on SharkNinja with an Overweight rating and announced a price target of $70. The company&rsquo;s stock gained around 16% over the past month and has a <a href="https://www.benzinga.com/quote/SN"> 52-week high </a> of $65.61.</li>
<li>RSI Value: 77.67</li>
<li>SN Price Action: Shares of SharkNinja gained 0.2% to close at $64.83 on Monday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/earnings/24/04/38154597/neogen-maxeon-solar-technologies-and-3-stocks-to-watch-heading-into-tuesday"> Neogen, Maxeon Solar Technologies And 3 Stocks To Watch Heading Into Tuesday </a>

<a href="https://www.bloomberg.com/news/articles/2024-03-22/centerview-engages-private-credit-for-superior-industries-debt">https://www.bloomberg.com/news/articles/2024-03-22/centerview-engages-private-credit-for-superior-industries-debt</a>
<a href="https://www.bloomberg.com/quote/798230Z:US">Centerview Partners</a> has held conversations with private credit lenders to refinance the outstanding debt of wheel supplier <a href="https://www.bloomberg.com/quote/SUP:US">Superior Industries International Inc.</a>, according to people with knowledge of the matter.
The fresh capital would be used to refinance about €250 million ($270 million) of unsecured bonds due 2025, said the people who asked not be identified as the details are private. The company also has about $250 million of redeemable prefer

Financing

'Centerview Engages Private Credit For Superior Industries' Debt; Seeks To Refinance Superior's Upcoming Debt Maturities; Autoparts Maker Would Seek To Refinance Unsecured Bonds' - Bloomberg News

Barrington Research analyst Kevin Steinke maintains Superior Industries Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUP#NYSE">SUP</a>) with a Outperform and raises the price target from $10 to $11.

Price Target

Analyst Ratings

Barrington Research Maintains Outperform on Superior Industries Intl, Raises Price Target to $11

General

Superior Industries Intl shares are trading lower after the company reported worse-than-expected Q4 financial results.

Superior Sees FY24 Net Sales $1.38B-$1.48B

Superior Industries Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUP#NYSE">SUP</a>) reported quarterly losses of $(0.440) per share which missed the analyst consensus estimate of $(0.170) by 158.82 percent. The company reported quarterly sales of $308.600 million which missed the analyst consensus estimate of $359.567 million by 14.17 percent. This is a 23.25 percent decrease over sales of $402.100 million the same period last year.

Superior Industries Intl Q4 2023 GAAP EPS $(0.440) Misses $(0.170) Estimate, Sales $308.600M Miss $359.567M Estimate

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Earnings Scheduled For March 7, 2024

Superior Industries Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUP#NYSE">SUP</a>) is set to give its latest quarterly earnings report on Thursday, 2024-03-07. Here's what investors need to know before the announcement.
Analysts estimate that Superior Industries Intl will report an earnings per share (EPS) of $-0.17. 
Superior Industries Intl bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Here's a look at Superior Industries Intl's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td></td>
<td>-0.08</td>
<td>-0.01</td>
<td>0.32</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-3.42</td>
<td>-0.35</td>
<td>-0.49</td>
<td>0.21</td>
</tr>
<tr>
<td>Price Change %</td>
<td>5.0%</td>
<td>-4.0%</td>
<td>-3.0%</td>
<td>13.0%</td>
</tr>
</tbody>
</table>

<h3>Stock Performance</h3>
Shares of Superior Industries Intl were trading at $3.29 as of March 05. Over the last 52-week period, shares are down 48.9%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/SUP/earnings">To track all earnings releases for Superior Industries Intl visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Preview: Superior Industries Intl's Earnings

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Earnings Scheduled For November 1, 2023

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