Superior Industries: 2Q Earnings Snapshot
SOUTHFIELD, Mich. (AP) _ Superior Industries International Inc. (SUP) on Thursday reported second-quarter profit of $7 million.
The Southfield, Michigan-based company said it had profit of 4 cents per share. Losses, adjusted for one-time gains and costs, were 6 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The maker of aluminum wheels for the auto industry posted revenue of $352.5 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $363.7 million.
Superior Industries expects full-year revenue in the range of $1.39 billion to $1.44 billion.
The company’s shares closed at $2.39. A year ago, they were trading at $19.50.