Superior Industries Logs Loss As Sales Decline

(RTTNews) - Superior Industries International, Inc. (SUP) on Wednesday reported net loss for the third quarter compared with net earning last year hurt by chip shortages and supply chain challenges. The company also narrowed its sales outlook for the full year.

Superior Industries reported net loss of $7.2 million, or $0.61 per share versus profit of $11.1 million, or $0.12 per share in the same quarter a year ago.

Net sales for the quarter declined to $310.8 million, from $317.1 million in the prior year period.

Looking forward, the company narrowed its annual outlook for sales to $1.33 billion - $1.36 billion for the full year, from its prior outlook of $1.30 billion - $1.37 billion.