The following is a summary of the Superior Industries International, Inc. (SUP) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Superior Industries reported a net sales decrease to $319 million from $373 million in the previous year, mainly due to normalization of aluminum costs and the deconsolidation of SPG. Adjusted EBITDA for the quarter was $40 million, down from $52 million, with the margin at 22%.

Business Progress:

• Superior has completed its strategic shift to a more competitive cost structure in Europe, closing operations in Germany and ramping up in Poland, expected to result in significant profitability uplift.

• They have entered into a $1.7 billion wheel program with Volvo for a midsized crossover platform using premium aerodynamic and lightweighting technologies, set to launch in Q4 2025.

• Superior received an 'A' rating in research and development from Audi, highlighting their positioning as a technology leader.

Opportunities:

• Successfully negotiated permanent price increases with OEMs to offset inflation and other manufacturing costs, reflecting a more robust pricing strategy.

• New contracts and technology recognition from major automotive players like Volvo and Audi, which could lead to further business expansion.

Risks:

• Lower industry production volumes have prompted a reduction in sales and value-added sales forecasts for the full-year 2024.

• Continued reliance on Europe's volatile energy costs could impact operations, despite some price negotiations being indexed to energy prices.

More details: Superior Industries International IR

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