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SOUTHFIELD, Mich. -On Thursday, Superior Industries International , Inc. (NYSE:SUP) reported fourth quarter results that fell short of analyst expectations, as the auto parts maker posted a wider loss amid lower sales.
The stock edged up 0.60% in premarket trading following the earnings release.
The company reported a fourth quarter net loss of $9.6 million, or $0.75 per share, compared to a loss of $2.5 million, or $0.44 per share, in the same period last year. Analysts had expected a smaller loss of $0.04 per share.
Revenue for the quarter came in at $310 million, below the consensus estimate of $348.57 million and roughly flat compared to $308.7 million in Q4 2023.
"The Superior team demonstrated remarkable discipline in 2024 amidst a challenging operating environment. Despite industry declines, we maintained our margins and outperformed the industry," said Majdi Abulaban, President and CEO.
For the full year 2024, Superior reported a net loss of $78.2 million on revenue of $1.27 billion, compared to a loss of $92.9 million on revenue of $1.39 billion in 2023.
Looking ahead, the company forecast 2025 revenue in the range of $1.30 billion to $1.40 billion. Superior said it expects a slight decline in industry OEM production in its markets in 2025.
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