Superior Industries Poised On Actions To Boost Global Reach
Zacks Investment Research | Jul 15, 2019 09:07PM ET
On Jul 15, we issued an updated research report on Superior Industries International, Inc. (NYSE:SUP) .
Based in Southfield, MI, the company is currently among the world’s largest designers and manufacturers of aluminum road wheels for the automotive industry.
In first-quarter 2019, Superior Industries’ wheel unit shipments declined due to lower shipments in North America operations along with some softness in Europe.
Apart from this, enforcement of WLTP emission standards in Europe has led to a slowdown in the company’s European operations. The sluggishness is expected to continue through the second quarter.
Additionally, it is exposed to foreign currency fluctuations. A weaker euro compared with a U.S. dollar exchange rate led to a decline in net sales in the last reported quarter. Lower aluminum prices and reduced volume are other factors that are hurting the company.
However, Superior Industries’ strong market presence in Europe owing to the Uniwheels acquisition has enabled it to diversify OEM customers. Also, the company is positioned well among its .
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