- Superior Industries International Inc (NYSE:SUP) reported fourth-quarter FY21 sales growth of 9% year-on-year, to $368.3 million, beating the consensus of $338.5 million.
- Sales in North America rose 15.7% Y/Y to $195.4 million, and Europe increased 2.4% to $172.9 million.
- The gross profit declined by 36.4% Y/Y to $21 million, with a gross margin of 5.7%.
- Selling, general and administrative expenses fell 12.5% Y/Y to $14 million.
- The operating margin was 1.9%, and operating income for the quarter fell 61% to $7 million.
- The company held $113.5 million in cash and equivalents as of quarter-end.
- Adjusted EBITDA decreased 21.3% Y/Y to $37 million.
- EPS loss of $(0.48) narrowed from $(1.16) last year.
- "Looking ahead, we anticipate continuing disruption throughout at least the first half of 2022 stemming from the ongoing semiconductor shortage and inflationary pressures," said CEO Majdi Abulaban.
- "We also anticipate some level of disruption associated with the Russia/Ukraine conflict," he added.
- Outlook: Superior Industries sees FY22 sales of $1.58 billion - $1.71 billion versus the consensus of $1.7 billion.
- Price Action: SUP shares are trading higher by 14.7% at $4.60 on the last check Thursday.
