Superior Industries International, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 12:00 pm
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Superior Industries International, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 372.6 million compared to USD 431.5 million a year ago. Net loss was USD 0.1 million compared to net income of USD 10.8 million a year ago. Basic loss per share from continuing operations was USD 0.35 compared to basic earnings per share from continuing operations of USD 0.07 a year ago. Diluted loss per share from continuing operations was USD 0.35 compared to diluted earnings per share from continuing operations of USD 0.07 a year ago.
For the six months, sales was USD 753.6 million compared to USD 832.1 million a year ago. Net loss was USD 4.1 million compared to net income of USD 20.9 million a year ago. Basic loss per share from continuing operations was USD 0.84 compared to basic earnings per share from continuing operations of USD 0.11 a year ago. Diluted loss per share from continuing operations was USD 0.84 compared to diluted earnings per share from continuing operations of USD 0.11 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.