Superior Industries International, Inc. ( (SUP) ) has released its Q3 earnings. Here is a breakdown of the information Superior Industries International, Inc. presented to its investors.
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Superior Industries International, Inc. is a leading global supplier of aluminum wheels, serving both original equipment manufacturers and the aftermarket with innovative products from its headquarters in Southfield, Michigan. Recently, Superior Industries reported its financial results for the third quarter of 2024, highlighting a successful debt refinancing amidst a challenging production environment. The company experienced a slight decline in net sales to $322 million compared to the previous year’s $323 million, but managed to expand its gross profit to $29 million from $25 million. Despite a net loss of $25 million for the quarter, this was a significant improvement from the $86 million loss in the same period last year. Adjusted EBITDA increased to $41 million, representing a 24% margin. The company’s refinancing efforts have strengthened its balance sheet, with total debt reduced to $521 million from $630 million the previous year. Looking ahead, Superior Industries has adjusted its full-year outlook due to softer production volumes among key customers, but remains focused on leveraging its differentiated product portfolio and low-cost production footprint to generate long-term value.
