Search Copying and distributing are prohibited without permission of the publisher
Email a friend
  • To include more than one recipient, please separate each email address with a semi-colon ';', to a maximum of 5

  • By submitting this article to a friend we reserve the right to contact them regarding AMM subscriptions. Please ensure you have their consent before giving us their details.

Superior Industries reports lower earnings, weaker sales

Keywords: Tags  Superior Industries International Inc, earnings report, aluminum, wheels, Rey Mashayekhi

NEW YORK — Superior Industries International Inc. reported slightly lower earnings in the second quarter as an average 3-percent increase in prices was offset by lower sales volumes.

"While the fundamentals of the auto sector remain strong, it appears that Superior’s more selective pricing decisions and ongoing capacity limitations are reflected in the reduced unit sales volumes," chairman, president and chief executive officer Steven J. Borick said.

Superior posted second-quarter net income of $6.32 million, down 1.4 percent from $6.41 million in the same period last year on sales that fell 7.5 percent to $198.99 million. First-half net income fell 14.4 percent to $11.26 million from $13.15 million a year earlier on sales that slipped 2.9 percent of $405.43 million.

Borick said the company is making "excellent progress" on its new manufacturing facility in Mexico, which is expected to increase wheel production capacity by approximately 20 percent upon completion in 2015. The company also is investing in upgrades and improvements at its existing plants.

Have your say
  • All comments are subject to editorial review.
    All fields are compulsory.

Latest Pricing Trends