Superior Industries Guided FY20 Net Sales Below Estimates - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Friday, aluminum wheel supplier Superior Industries International, Inc. (SUP) initiated its net sales and unit shipments guidance for the full-year 2020.

For fiscal 2020, the company now projects net sales in the range of $1.33 billion to $1.39 billion, driven by unit shipments of 18.4 million to 19.0 million.

On average, four analysts polled by Thomson Reuters expect the company to report net sales of $1.43 billion for the year.

"Looking at 2020, we anticipate softer automotive industry demand compared to 2019," said Majdi Abulaban, Chief Executive Officer.

Abulaban added that the company remains focused on delivering incremental profitability and strong cash flow by improving manufacturing productivity, reducing costs, efficiently executing on its portfolio of premium products, and winning programs to support a balanced portfolio that maximizes utilization of its footprint.