Superior Industries International Sees FY24 Net Sales Of $1.35B-$1.41B (Prior 1.38B-$1.48B) Vs $1.371B Est.
Portfolio Pulse from Benzinga Newsdesk
Superior Industries International has updated its FY24 outlook, lowering its net sales forecast to $1.35B-$1.41B from the prior $1.38B-$1.48B, citing lower aluminum costs and reduced production volumes by OEMs. Adjusted EBITDA and Value-Added Sales forecasts were also lowered, while Unlevered Free Cash Flow estimates remain unchanged. Capital expenditures are expected to be around $40 million.
August 08, 2024 | 11:20 am
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Superior Industries International has revised its FY24 outlook, lowering net sales, adjusted EBITDA, and value-added sales forecasts due to lower aluminum costs and reduced production volumes by OEMs. Unlevered Free Cash Flow estimates remain unchanged.
The downward revision in net sales, adjusted EBITDA, and value-added sales indicates potential challenges in the company's financial performance, likely leading to a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100