Superior Industries Backs 2018 Sales Outlook; Q1 Results Top View - Quick Facts

(RTTNews) - Aluminum wheel supplier Superior Industries International, Inc. (SUP) on Wednesday reaffirmed its full-year 2018 outlook for net sales in the range of $1.45 billion to $1.50 billion, driven by unit shipments of 21.25 million to 21.6 million.

On average, analysts polled by Thomson Reuters expect the company to report sales $1.46 billion for the year. Analysts' estimates typically exclude special items.

For fiscal 2018, the company also projects value-added sales in the range of $800 million to $835 million and capital expenditures to be about $95 million.

For the first quarter, the company posted net income of $10.3 million or $0.07 per share, up from $3.1 million or $0.12 per share in the year-ago quarter. The results for the latest quarter include the impact from acquisition-related items of $0.08 per share.

Net sales for the quarter more than doubled to a record $386.4 million from $174.2 million in the same quarter last year, with record value-added sales of $207.4 million.

Analysts expected quarterly earnings of $0.04 per share on revenues of $350.22 million.

The company also reported record wheel unit shipments of 5.5 million, up 95 percent from last year's unit shipments of 2.8 million.