Superior Industries International, Inc.

Net sales in Q1 2025 were $322 million versus $316 million in the prior-year period. Adjusted EBITDA was $25 million, down from $31 million, and adjusted EBITDA margin was 15% versus 18% a year ago. Net loss was $13 million, an improvement of $20 million year over year. Cash provided by operating activities was $24 million versus $4 million, capital expenditures were $6 million versus $7 million, and unlevered free cash flow was $33 million versus $8 million. Total cash at March 31, 2025 was $54 million, revolver borrowings were $0 on the $60 million facility, and net debt was $462 million, down $18 million from December 31, 2024. The company suspended full-year 2025 guidance due to the sudden customer volume loss, liquidity uncertainty, covenant discussions, and broader tariff-related volatility.

Majdi Abulaban said the quarter showed a good start to 2025 despite a difficult macro backdrop, with value-added sales outperforming the market and cost reduction helping results. He emphasized that tariffs are accelerating OEM localization in North America and Europe, and described Superior’s Mexico and Poland footprint as a major competitive advantage, supported by record quoting activity. At the same time, he acknowledged a major setback in April from customer resourcing and said management is focused on liquidity, customer recovery, and a recapitalization that would leave the company with a stronger capital structure.

Dan Lee highlighted the quarter’s financial performance: $322 million of net sales, $25 million of adjusted EBITDA, a 15% margin, and a $13 million net loss, versus $31 million of adjusted EBITDA and an 18% margin a year ago. He noted cash from operations of $24 million, capex of $6 million, and unlevered free cash flow of $33 million, driven largely by lower working capital. He also cited $54 million of cash, no revolver borrowings, net debt of $462 million, and explained that the company is suspending full-year guidance because of the sudden volume loss, covenant risk, lender discussions, and tariff-related uncertainty.

There was no analyst Q&A, as management said it would not take questions on the call. The most notable disclosures came in the prepared remarks: certain large North American OEM customers notified Superior they would shift purchases to other suppliers with immediate effect and minimal wind-down, which management said affected 33% of expected 2025 revenue. Management answered that it has secured a commitment for up to $70 million of additional term loans, is seeking covenant relief, and is in advanced discussions on a recapitalization with lenders and preferred shareholders.