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Superior Industries International Inc. has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports net sales of $1,267,344,000, a decrease from $1,385,283,000 in the previous year. The decline is attributed to lower volumes and decreased aluminum and other pass-through costs.
Cost of sales for the year was $1,156,810,000, leading to a gross profit of $110,534,000. Selling, general, and administrative expenses amounted to $81,282,000.
The company reported a net loss of $78,182,000 for the year, compared to a net loss of $92,852,000 in the previous year. The loss includes a $13,052,000 charge for the extinguishment of debt.
Superior Industries completed a refinancing of its term loan facility, increasing the principal to $520,000,000. The refinancing was used to discharge its 6.000% Senior Notes due 2025.
The company has a working capital of $112,835,000 as of December 31, 2024. Cash and cash equivalents at year-end were $40,110,000.
Superior Industries' North American segment reported net sales of $786,124,000, while the European segment reported $481,220,000.
The company faces various industry risks, including cyclicality in the automotive market, competition, and supply chain disruptions.
Superior Industries does not anticipate paying cash dividends to common stockholders in the near future.
The filing also details the company's efforts to manage foreign currency exchange and commodity price risks through hedging activities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Superior Industries International Inc. (DE) annual 10-K report dated March 6, 2025. To report an error, please email earnings@qz.com.