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Superior Industries International profit beats consensus by 68.9% in fiscal Q2

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Superior Industries International profit beats consensus by 68.9% in fiscal Q2

Superior Industries International Inc. said its normalized net income for the fiscal second quarter ended June 28 amounted to 29 cents per share, compared with the S&P Capital IQ consensus estimate of 17 cents per share.

EPS increased 45.1% year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $7.7 million, a gain of 42.0% from $5.4 million in the year-earlier period.

The normalized profit margin rose to 4.2% from 2.7% in the year-earlier period.

Total revenue declined 7.6% year over year to $183.9 million from $199.0 million, and total operating expenses decreased 10.1% year over year to $171.3 million from $190.5 million.

Reported net income rose 30.4% year over year to $6.4 million, or 24 cents per share, from $4.9 million, or 18 cents per share.