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Saturday, Sep 23, 2023

Superior Narrows Loss in Q3

Superior Industries International Inc. narrowed its net loss in a quarter when wheel shipments increased 20 percent. The Van Nuys-based manufacturer of aluminum wheels for major auto makers reported a net loss of $644,000, or a loss of $0.02 per diluted share, on revenues of $227.6 million for the quarter ending Sept. 30. For the same period in 2006, the company had a net loss of $7.7 million, or a loss of $0.29 per diluted share, on revenue of $174.3 million. Production volume at the new Superior plant in Chihuahua, Mexico ramped up in the third quarter and improved performance is expected from company plants in the U.S. “As weaker competitors around the world continue to struggle, we are increasing margins and expanding market share as we complete the restructuring that is transforming Superior into a truly global company,” Superior Chairman, President and CEO Steven Borick said.

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