Superior Industries International, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 01, 2023 at 04:30 pm IST
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Superior Industries International, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 323.1 million compared to USD 405.7 million a year ago. Net loss was USD 86.3 million compared to USD 0.4 million a year ago. Basic loss per share from continuing operations was USD 3.42 compared to USD 0.35 a year ago. Diluted loss per share from continuing operations was USD 3.42 compared to USD 0.35 a year ago.
For the nine months, sales was USD 1,076.6 million compared to USD 1,237.8 million a year ago. Net loss was USD 90.4 million compared to net income of USD 20.6 million a year ago. Basic loss per share from continuing operations was USD 4.29 compared to USD 0.25 a year ago. Diluted loss per share from continuing operations was USD 4.29 compared to USD 0.25 a year ago.
Superior Industries International, Inc. is engaged in designing and manufacturing aluminum wheels for sale to original equipment manufacturers (OEMs) in North America and Europe and to the aftermarket in Europe. The Company designs, engineers, and manufactures a wide variety of products utilizing the latest lightweight and finishing technologies. The Company is an aluminum wheel supplier to global OEMs and European aluminum wheel aftermarket manufacturers and suppliers. The Companyâs OEM aluminum wheels are primarily sold for factory installation on vehicle models. The Company sells aluminum wheels to the European aftermarket under the brands ATS, RIAL, ALUTEC and ANZIO. The Company manufactures all of its North American products in Mexico for sale in the United States, Canada and Mexico.