Company: SSUP
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034599
Chunk: 53

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 53
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 31, 2024 was $25.5 million on pre-tax loss of $52.7 million, representing an effective tax rate of (48.4%). The 2024 effective tax rate differs from the statutory rate primarily due to valuation allowances, the reversal of an uncertain tax position, the mix of earnings among tax jurisdictions, and a tax charge affecting deferred tax assets related to tax restructuring. The income tax benefit for the year ended December 31, 2023 was $23.9 million on pre-tax loss of $116.8 million, representing an effective income tax rate of 20.5%. The 2023 effective tax rate differs from the statutory rate primarily due to valuation allowances, the reversal of an uncertain tax position, and the mix of earnings among tax jurisdictions.

Net (Loss) Income 

Net loss for the year ended December 31, 2024 was $78.2 million, or loss per diluted share of $4.25, compared to net loss of $92.9 million, or loss per diluted share of $4.73 for the year ended December 31, 2023.

24

Segment Sales and Income (Loss) from Operations

    Fiscal Year Ended December 31,
     
    2024

    2023

    Net Change

    (Dollars in thousands)

    Selected data

    Net sales

    North America
     
    $
    786,124

    $
    794,386

    $
    (8,262
    )

    Europe

    481,220

    590,897

    (109,677
    )

    Total net sales
     
    $
    1,267,344

    $
    1,385,283

    $
    (117,939
    )

    Income (loss) from operations

    North America
     
    $
    43,010

    $
    51,791

    $
    (8,781
    )

    Europe

    (13,758
    )

    (103,239
    )

    89,481

    Total income (loss) from operations
     
    $
    29,252

    $
    (51,448
    )
     
    $
    80,700

North America

Net sales for our North American segment for the year ended December 31, 2024 decreased 1.0% compared to the year ended December