Superior Industries Maintains FY22 Net Sales Outlook

(RTTNews) - While reporting financial results for the first quarter on Wednesday, aluminum wheel supplier Superior Industries International, Inc. (SUP) maintained its net sales and unit shipments guidance for the full-year 2022.

For fiscal 2022, the company continues to project net sales in the range of $1.58 billion to $1.71 billion, driven by unit shipments of 16.4 million to 17.7 million.

On average, two analysts polled by Thomson Reuters expect the company to report net sales of $1.64 billion for the year.

For the first quarter, the company reported net income of $10.1 million or $0.04 per share, down from $13.1 million or $0.18 per share in the prior-year quarter.

Net sales for the quarter grew 12 percent to $400.50 million from $358.20 million in the same quarter last year.

Analysts expected a loss of $0.12 per share on revenues of $385.93 million for the quarter.