Superior Industries(SUP) - 2025 Q1 - Quarterly Results

Financial Performance - Net Sales for Q1 2025 were $322 million, an increase from $316 million in Q1 2024, primarily driven by higher aluminum costs and product pricing[11] - Value-Added Sales for Q1 2025 were $169 million, down from $172 million in Q1 2024, with Value-Added Sales Adjusted for Foreign Exchange at $171 million, relatively flat year-over-year[11] - The Company reported a Net Loss of $13 million for Q1 2025, improving from a Net Loss of $33 million in Q1 2024, resulting in a Loss per Diluted Share of $0.92 compared to $1.52 in the prior year[14] - Adjusted EBITDA for Q1 2025 was $25 million, representing 15% of Value-Added Sales, down from $31 million or 18% in Q1 2024[15] - Net income improved to a loss of $12.9 million in Q1 2025, compared to a loss of $32.7 million in Q1 2024, reflecting a reduction in losses by 60.5%[35] - The company reported an adjusted EBITDA of $25.1 million for Q1 2025, down from $30.8 million in Q1 2024, a decline of 18.5%[38] Cash Flow and Debt Management - Cash Flow Provided by Operating Activities increased to $24 million in Q1 2025, compared to $3 million in Q1 2024, primarily due to changes in working capital[16] - Unlevered Free Cash Flow for Q1 2025 was $33 million, an increase of $25 million compared to the prior period[17] - Free cash flow for Q1 2025 was $16.8 million, a significant improvement compared to a negative free cash flow of $7.5 million in Q1 2024[39] - Total Debt as of March 31, 2025, was $516 million, with Net Debt at $462 million, a decrease from $520 million and $480 million respectively at the end of 2024[18][19] - Net debt decreased to $462.0 million as of March 31, 2025, down from $479.7 million on December 31, 2024, a reduction of 3.6%[39] Operational Metrics - The company shipped 3,419 wheels in Q1 2025, a decrease of 5.6% from 3,623 wheels in Q1 2024[38] - The content per wheel increased to $49.90 in Q1 2025, compared to $47.53 in Q1 2024, reflecting a growth of 4.9%[38] Guidance and Strategic Initiatives - The Company is withdrawing its 2025 fiscal year guidance due to macroeconomic uncertainties and recent customer volume losses[20] - Superior is engaged in discussions for a recapitalization transaction aimed at reducing debt and enhancing financial flexibility[8] Market Trends and Asset Management - The Company is experiencing unprecedented RFQ levels driven by localization trends among OEM customers in response to tariffs[9] - Total assets increased to $763.8 million as of March 31, 2025, up from $740.1 million on December 31, 2024, representing a growth of 3.0%[33] - Total current liabilities rose to $224.5 million as of March 31, 2025, compared to $195.9 million on December 31, 2024, an increase of 14.6%[33]