Superior Industries Issues 2019 Outlook - Quick Facts

(RTTNews) - Superior Industries International, Inc. (SUP) announced, for 2019, the company expects net sales to be in the range of $1.42 billion to $1.47 billion, driven by unit shipments of 19.85 million to 20.30 million; value-Added Sales to be in the range of $765 million to $805 million; and adjusted EBITDA to be in the range of $170 million to $185 million.

Timothy McQuay, Executive Chairman of Superior Industries. "Looking forward to 2019, our expectation for the market is low-single digit industry production declines in both regions. Despite the production outlook, we remain fully committed to executing our strategy to enhance our operational efficiencies, specifically in North America, and supporting our global customer base to deliver shareholder value. To that end, we are continuing our search for a permanent Chief Executive Officer with a focus on finding an individual with a proven track record of operational success."

For the fourth quarter of 2018, the company reported net income of $8.2 million, and earnings per diluted share of $0.61, including the benefit of acquisition and one-time items totaling $0.77 per diluted share. This compares to a net loss of $4.6 million, or $0.50 loss per diluted share, in the fourth quarter of 2017. Adjusted EBITDA was $45.6 million compared to $48.9 million, prior year.

Value-Added Sales were $206.3 million for the fourth quarter of 2018, a 1.4% increase compared to the fourth quarter of 2017. Net sales for the fourth quarter of 2018 were $378.8 million, compared to net sales of $361.8 million in the fourth quarter of 2017.

Wheel unit shipments were 5.2 million in the fourth quarter of 2018, a decrease of 3.7%, compared to unit shipments of 5.4 million in the prior year period. The company said the change in units was driven by higher shipments in Superior's European operations, offset by a decline in North America due primarily to lower year-over-year production by key customers.