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SUPERIOR INDUSTRIES INTERNATIONAL, INC.

(SUP)
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Superior Industries Faces Higher Debt Due to Weaker Dollar -- Currency Comment

08/04/2021 | 09:34am EDT

By Paulo Trevisani

Superior Industries International Inc. said Wednesday a weakening dollar increased its net debt in the second quarter.

The Southfield, Mich. maker of aluminum wheels said its net debt was $483.7 million as of June 30, up from $476.5 million on March 31. It said the variation "was driven by the appreciation of our Euro-denominated debt resulting from the Euro strengthening against the US-Dollar."

The company also said that FX rates were one of the factors behind a sales increase to $347.5 million from $144.8 million in the prior-year period.

According to Dow Jones Market Data, the U.S. dollar lost 1.1% versus the euro in the second quarter.

Write to Paulo Trevisani at paulo.trevisani@wsj.com

Corrections & Amplifications

This item was corrected at 2:18 p.m. ET to show that net debt was $483.7 million as of June 30, up from $476.5 million on March 31. An earlier version incorrectly said that net debt $630.3 million as of June 30 up from $476.5 million three months earlier.

(END) Dow Jones Newswires

08-04-21 1134ET

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Financials (USD)
Sales 2021 1 387 M - -
Net income 2021 -13,1 M - -
Net cash 2021 37,2 M - -
P/E ratio 2021 -15,1x
Yield 2021 -
Capitalization 197 M 197 M -
EV / Sales 2021 0,12x
EV / Sales 2022 0,09x
Nbr of Employees 7 700
Free-Float 95,6%
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Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 7,56 $
Average target price 12,50 $
Spread / Average Target 65,3%
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Managers and Directors
Majdi B. Abulaban President, Chief Executive Officer & Director
C. Timothy Trenary Chief Financial Officer & Executive Vice President
Timothy C. McQuay Chairman
Paul J. Humphries Independent Director
Michael R. Bruynesteyn Independent Director
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