SUP - Earnings call transcript Q1 2021 | Superior Industries International, Inc.

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Operator

Good day and welcome to the Superior Industries' First Quarter 2021 Earnings Teleconference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Clemens Denks. Sir, please go ahead.

Clemens Denks

you. Thank and first everyone call. XXXX to welcome morning quarter our earnings Good

available section Financial our be on and with Executive President which, is will today, the Vice the our Executive Officer; the to release, During Abulaban, we Chief presentation, call referring by discussion our I'm Superior's of website. our Officer. Majdi earnings earnings and Chief on joined Trenary, Investors President and along Tim

remind the XXXX. slide Majdi, I discussion on the for of including any factors. everyone Reform turn full the to on company's the company's Please current of would Before Litigation this today presentation commented Private of annual to statements XX-K forward-looking provisions the this complete to that SEC two more to to statements for or I in over subject a report filings, contained Safe Safe forward-looking Harbor refer Act Securities risk like the call presentation and Form of and Harbor statement are

will U.S. non-GAAP the discussing of measures directly calculated Reconciliations Majdi These I'll GAAP be most these the a can portfolio appendix provide to accordance comparable the the call and in update. items this found with that, With today. to various are in therefore, of measures presentation. be measures turn of certain exclude U.S. over impact and to measures business GAAP. non-GAAP We also not

Majdi Abulaban

of you everyone. long-standing good Thank and our your partnership Clemens Thanks Thanks. for Superior. joining thank support call morning for and and you

from few today, side. start perspective a I Before my with words

today. will we share the you are We with very pleased results with

the recovers. built profitable to in growth last as call, earnings As excited business industry we're for have the a I very stated

to five actually the for highlights quarter. the quarter a have slide I that, for what first established Our with will start on are we results With ourselves. testament

delivering strong market, achieving and quarter, generation. For cash delivered the again have growth solid first performance, above we profitability, expanding

on execute secular roadmap, to of our trends with value against portfolio capitalizing innovative technologies. creation our teams Our continue

realize adopting from increase growth COX value customers. to favorable our sales are driven we delivered added operations. a XX% advance well portfolio cash vehicle and differentiation, and as disciplined strong XX% strategy we mix execution, despite our Further, OEMs electrification, a in on solid deliver As product chain strategies by in EBITDA disruptions reduction, supply and and affecting

in that quarter will in mix than During you quarter, that and above premium single-digit vehicles future. operational we a in fact OEM said, a confident our some the supply results are for range strength, benefited continued portfolio represented I OEMs growth detail Superior constraints. growth XX-inch drivers the to in I the Superior actually in that future. think will our combination and is an consistent other Highlighting as this more managed shift capabilities That greater underscore first from will which XXXX. we for our of high Tim that find positioned over moment. compared XX% less the of These into also we for shipments profitable chain has well interesting. portfolio market later a slide our provide wheels XX% through positioning discuss on foreseeable the have positioned product towards

and especially across regions, profitability margins, in improved successful. stabilizing cash strategy we the moved that, specifically flow into were in Moving expanded committed our strategy, to we translated completed squarely improved margins we we been our business. operations, resulted to tremendously gross executing When a driving entire this actually into as two excellence Europe. the operational America generation business, enhanced introduced remain realize accelerated This to North EBITDA between the stronger company, which I and on to six, drive our financial rapidly on position. American discipline shareholder globally, North slide an synergies first This has and Once deliver across value. focused

cash flow, quarters. over improving well-positioned witnessed margins to drive several you to addition we In consistent are and as last profitable the growth have

to technologies and portfolio to sophisticated base. of develop us to business new our secure new expand additional enabling our further continue market, bringing wins, customer We

in seven As the enhancing this from to strategy outage, major as more operations margin the facilities on expanded each slide, roadmap, of make EBITDA the we demand. shutdown driving of execution our value working, to American that basis stiff is chain our look our temporary of year demonstrate step. power portfolio February, achievement progress We than and XXX creating points I despite to expansion trend constraints, forward driving results continue customer described strategy continued continues, the executing efficiencies profitability. headwinds, and along clearly Excellence Year-over-year, our North with of and maintaining our Operational supply including strengthened shareholder incremental our the margin due a prior Slide this Mexican showcases facing volatile Initiative.

technology times, to fuel slide we specifically, The many to diameter are significant have print, content as wheels the utilizing well over wheels consumer portfolio. as growth our looking clear position and that to these seen larger technologies aerodynamics, on our with secular efficiency, OEMs grow of percent the to have More support we and will towards maintain come. unique at perspective, for key said market. us we this has premium have growth a as mandates driven as years eight, believe address a content. leadership preference Turning efforts trends significantly attractive for increases in a previous we electrification, from both

between our compared technologies a capabilities technologies have Importantly, wheel. affording These demand level competitors advantage over times upcharges some our base to and significant also with more to competitive created them. a actually XX% of premium business at many XX% than customers customers value recognize do the these as of these us

to slide say for durable been the moving As PACE as I innovate portfolio expect our has that which technologies, nine, to alternative our capture a we PVD continue environmentally-friendly, pleased To chrome. our further Award finalist develop on solidify to and Prestigious to leadership premium growth. named we an to of for and am Technology, position long-term end offers Superior highly

mass technology reduction this vehicle, technology the year of vehicle COX addition, efficiency won last launched average improves and offers XX Award. Global pounds Ford that reduces proven FXXX a which was actually and In is a per on emissions. Excellence It over four an --

the honored outstanding final to are further and market to Award group our as a in teams, work We technology for the PACE testament our we be the see offer underscoring considered leading the this innovative customers. of

on with to North and XX, here slide the content in we In the Dodge the platform Volvo latter region product Europe. and our launched of Defender, exciting Sport. first and our the we technology. leveraging strategy North on Dodge we XCXX Micra. VW and The to our Rover our America, the first content Atlas, Rover wheel in and VW America, Forming In the The on our is launch customer launched the Moving we with actually European Europe. the North the first XCXX, this first with in Land OEMs have Volkswagen Lightweighting launch of launched see Flow using you Range Nissan Ram, The both in consistent grow America which the Atlas marked some quarter, with features first relationship XX-inch in which in Ram is and matt-finish technology. Europe,

been is environment to forecasts, levels production recovery the said improvement the current last last XXXX eight over have still let to vehicle are on slide showing significant year. light discuss the me still call Before I Tim, for XXXX that, IHS versus XX. which over industry the reduced weeks turn in Having underway. quickly

As a market we guide. recovery conservative last reminder, taken in have our a outlook

closed now has outlook. gap guidance the IHS original our effectively, So, to

year come. underlying assumptions Our recovery some We remain of market that to outlook industry remain our the intact. for time continue will full confident

that the may are COVID supply result full year. following we and guidance. shortages chain market. highly continued semiconductor also With ongoing in European currently in customer end which monitoring demand are primarily other We're the throughout this are we affecting maintaining mind, year our However, volatile restrictions the challenges,

range adjusted million. $XXX we the full cash $XXX to million anticipate $XXX flow delivering $XXX from million of million EBITDA range year, in in to the of the operations For and

enhanced pleased Our I'm confident focus invest outstanding Tim? be growth first profitability call quarter to thank on generation. in the like to team these I continue in plan over that, I in closing, will driving our results enable deliver am I the us entire more company, enhanced business, our work revolving will credit their our that margins team cash enhanced like continue also financial generation. will strategic and leadership enhanced complement support and with additional to our and cash extension very would growth position to Tim. With hard I on recent to to would for and our to to and value In strong cash EBITDA drive momentum and our deleverage of and the shareholders. facility The market flexibility will continue over stemming turn the our from results. to executing

Timothy Trenary

Majdi you, morning and Thank good everyone.

quarter another first financial was another growth the Superior company. of quarter XXXX The and performance quarter outstanding for market of above of for sequential

market shifted value XX, diameter growth quarter profitable be premium larger This year for by shift These to accordingly. production customers of wheels with and equipped with FX added in for company's vehicles was wheels to our content. adjusted the This vehicles sales the disproportionately semiconductors diameter over first and the content. slide generally compared over of as on preserved premium XX% in Superior's the quarter reflected growth continues represents with therefore, mix boosted supplies in driven market. product first period. premium larger more limited As are increased their vehicles; prior the XX% sale larger

sales net exchange period. to year prior sales a quarter breakdown in first added the foreign the favorable and in find Wheel for were added million, value of addition, X.X slide enhanced In the X% compared the year shipments, to unit quarter the On prior you'll increase the value period. regional compared quarter. shipments sales, unit XX,

reflects million added sales rising value much year All foreign a compared year the was This essentially to exchange, in aluminum. quarter period, $XXX the North increase to exchange. million before favorable XX% and America were increased increase of Value the as in increased to foreign and in prior $XXX Europe's as flat sales in of Net million increase shipments the million this compared added sales, $XXX unit the adjustment year-over-year. in cost prior for for XX% period. increase $XXX shipments

euro, $XX per diluted facilities of an $X.XX improvement timing February. the of of by rise and prior million quarter were which income the among provision, we a $XX million This and tax Adjusted of a diluted differs quarter of to tax increase $XXX of the driven of non-recurring tax days stronger prices, our quarter for or four jurisdictions. net to the by quarter was to non-cash loss of XXXX. $XX Net due of first of earnings share is first was the EBITDA charge result intangibles aluminum year loss or mix compared related performance, compared live a of past uncertain product in share this This adjusted and All per in rate the to in a six year definite our favorable in increased of the operational million precipitated of the impairment to $X.X the period. of bridge Mexico. The a net in from XXXX a Mexican from other largely reported the XX income power valuation almost the primarily earnings XX% allowances, in quarter million operations for a release customer XXXX. European of period. cold goodwill to position, mix, first outage the million weather recovery, acquisition includes first Slide idled XXXX statutory in $X.XX and prior partially primarily EBITDA offset

change from decrease period. was $X drawdowns in and debt used in by timing XX. in provided first proceeds $XX cash on expenditures, reflects financing First $XXX earnings in XXXX million lower strategy. cash by was million in the the with capital associated The from to flow made due to in funded million. credit pandemic growth higher compared in million driven $X and the prior uncertainty prior million to sales, increased the partially capital change Cash the of on on This dividends payments operating loan described primarily emerging XXXX. and in compared activities was quarter paid of the Europe XXXX. our the $X European equipment $XX million the year is the used by period. equipment preferred in during quarter, to not capital cash year European America investing on The activities facilities by and support million Cash activities $XX was $XX working investment activities revolving to of offset $X the million due slide North million in compared quarter primarily Cash of difference taxes. to loan, We a decreased to drew flow financing

therefore Taken Net than capital Funded XX. structure $XXX free The $X cash less million is prior the of prior million, cash Free million debt a quarter was in remains together, flow $XXX flow $XX and we the debt company's objective was on $XXX quarter less quarter. generated million at million. the than year slide Superior. $XX hand in period. on outlined cash key million end;

May from XXXX. banking power now. company we discussions of European We maturities European More The are we our commitment our regarding facility million XXXX, The XXXX debt mature notes credit including available to matures maturity the amounts step The the As of in a position. company's of half partners on was believe increased XX. than amended and and Xrd, committed XXXX depicted near-term On two are more million in facility. and senior our cash on liquidity to March new under down loan credit the the this in XX, is cash in $XXX.X There and of adequate $XXX enhanced Furthermore, $XXX.X of come and XXXX, earnings revolver. that profile revolving May soon. a million. considering October expansion in is years with facilities U.S. funded extended no with term debt. revolving the will slide

We are top for liquidity and a in amounts Superior. all the the remains in form is to company of facilities. Deleveraging revolving the available loan compliance Significant balance covenants. available sheet priority cash with into credit the

Having impact shutdown the the our cash and and increase range of assumes X.XX $XXX February. outage $XXX sales the and of to XXX industry not XXXX flow of COVID-XX percentage of year the with first production the Superior's the industry on continues guidance given in on full the global million the especially to shift Furthermore, in in do continuing found change XXXX with performance availability X.X operations, at temporary therefore, intend a million range semiconductors Europe. our we this supply expect million. With to operations be be of time, quarter, outstanding sales in to added outlook uncertainties of shipments to be wheels resulting of we vehicle million, strategic sales impact recovery XXX in execute growth sales we estimate continue financial range adjusted previously be a industry possible outlook associated will and and to includes million Our that, ability to to the year. semiconductor in the million our guidance the pre-COVID the continue volumes, generate to to aluminum result to the remain prices, to we confident a our will diameter expect an disruption, to slide $XXX to power footprint, levels as profitable in possible respect mid-teen be OEM the customer's of respect EBITDA as With said priorities. range for billion billion, in will value this Net XXXX across described disruptive XX.X to XX. be to in our believe production content. of and range chain over an from premium in associated time production recovery larger million in unit our on we schedules. wheel The $XXX XX.X the million in Mexican This shortage Notwithstanding year.

XXXX. this Finally, continue Majdi? portion our should wheel That million, approximate wheeled remarks. we prepared portfolio of portion significant finishing carry-over our our $XX a is in which through is capital A investments expenditure to our of spend and products. advanced capabilities for develop of concludes as capabilities

Majdi Abulaban

closing -- want remarks You open or to later?

Clemens Denks

Thank Very right. good. Majdi. and you, All Tim

the ahead. Katie, Let's session with Q&A please please. go go ahead

Operator

Thank Thank Instructions] you. you, [Operator sir.

from Our Gary Barrington will Research. first question come with Prestopino

Gary Prestopino

everyone. morning, good Hey,

Majdi Abulaban

Good morning Gary.

Timothy Trenary

Hi Gary.

Gary Prestopino

are questions production lower high models see due models the of you couple here. constraints? end here, OEMs the to chip more stages continuing early of end to their in their QX favoring of of one, the Number A versus

Majdi Abulaban

it all Gary with second those but come to in earnings half, seen. and obviously, challenges have Gary, same that they with is stated recovery, remains us reports that as OEMs of continue their shortages Yes, and to possibly, be and face up microchip have actually QX they momentum the with continuing

and to profitability and that with So, to limited platforms content the without we highest the limited that focused supply, on saying resources, continue. highest the continue goes they it offer expect stay

QX higher will continue. on that front, content pressure more of to would even allocation demonstrate but Although the vehicles

Gary Prestopino

Okay.

saying, that's the was forward, to the if So, trying out answered to going the the I I light of is QX going predictions expect of QX that they're the up, challenged, QX why but question, along somewhat way cadence and what to least OEMs -- of think will what it? at that cadence is the get are of goes thinking at of this it some looking be is you're kind

Majdi Abulaban

That IHS half. recovery a lot second and plowed we're And with the upgraded customers. has what really signaled. half, of consistent which is They've the downgraded that's correct. is hearing second They QX from into what off

Gary Prestopino

here. in your QX And Okay. XX-inch about then to in another questions increase at just and they wheels were of or terms they units couple of greater, XX% XX%?

Majdi Abulaban

That's right. about

Gary Prestopino

Okay.

XX%. to So, XX%

to us closed but some European was that has terms adjusted gap equilibrialized operations, margin, you or operations And big there and new it's closed on time, point at good. direction could have where between maybe your EBITDA there one give the there? then, it a North Okay, American gap of think in I -- you

Timothy Trenary

operations consequence arrived were Majdi of after changes that as you actions were the the the step step in shortly structure has, -- to and shifting in margins Fayetteville Gary, its North taken resulted America Mexico. the at in cost similar. That change which large very, a including if and By Tim. will, specifically Mexico, structural the now and large, cost company, very are changes, as between down of by Europe

So, your yes, answer the question. The the is answer long closed. short that's gap to is

Gary Prestopino

Okay. Thank you.

Operator

you. Thank

from with Benchmark. comes question next Our Mike Ward

Mike Ward

everyone. me something. I'm you with help morning wondering Good can

Majdi Abulaban

morning Mike. Good

Mike Ward

these got I the vehicles, they're these online largely got and They lots. in missing them, Ford, if stories see see at sitting all right, some Majdi so produced wheels So, videos you chip. on like parking you in then the that particular, of are one this maybe about but

been haven't that they you So, you it Are with getting in Are cash? considered they gated by work How does Is yet a sale? Ford. paying the you? revenue?

Majdi Abulaban

No, considered The short sale. it's a absolutely answer.

Mike Ward

Okay.

Majdi Abulaban

parked sale. they for is a -- waiting As chips, it

Mike Ward

Right. It sale, okay. a is

things the create these know XX-day You're out coming? you think are pretty that you they're like going XX type most doing to does XX%, much XXX% where pretty last the that. the days And thumb Now, just term? a to to given build longer XX-day know schedules schedules backlog? schedules more is at basically, they the vehicles consistent in get you is best and pressure getting XX, I their the vehicle important and mind, cutbacks is guys that XX, schedules of the when allocate chips I cautious manufacturers, the rule I from or minute XX get

Majdi Abulaban

try call through every sometimes on volatility. with team of to to tell as manage this a the I'm execution team. will every And testament day you I week, the they Mike, the

strategy on in -- change story premium We -- market market your So, on lightweighting. wheels, be But mean, we the our XX%, almost marquee, taking And is said electrification the we the of growth correct, to hold. vehicles. over it’s I on world -- a with team our fire We stability. larger daily is to said statement basis. Mike, a wanted want schedule

was Our months it lightweighting Mike is, volume, is just ago. twice what XX

way the itself manifested shift is to is in numbers of satisfy is to we're to And taking So, strategy responding sharing their mix, with it an on that has their growth hold, but that customers you. team in needs. production unbelievable top these a

Mike Ward

been disruptive have the in performance. hugely that would to past because Yes,

Majdi Abulaban

Yes, yes.

Mike Ward

your that on see like that, reflected are QX, we're reflected? the markets substantial you first Are your seeing economies in that shut Europe? as some more increases in you lot insights in to are particularly, get type can it customers? going quarter looks a QX, mean that what's Any I give you going orders I'm we down into seeing guessing pretty as on from reopening. that the

Majdi Abulaban

slower I Europe as North it America Yes, and year in four overall, mean, to one than we of knowing be. sometimes, Mike, for will came reach XXXX into the and North recovery is Europe was always the than that continues going be viewed to that will that not levels be stronger Europe America.

surprisingly, X% market Now QX, you look European the America year-on-year, at down if North was down while was X.X%.

is think with the Europe range. be QX we X%. consistent XX% Actually, from America was in XX%. operating standpoint up year XX% at story continues be to as our may in it market. expected before IHS was Both Europe is call. earnings revenue see -- and we the us, recovery seeing -- at above are the issued We But in our the in our XX% hold you'll regions that. we North in North For at up still got outlook revenue growth and America The are significantly

Mike Ward

and feedback the appreciate really I thank you. Listen,

Majdi Abulaban

You're welcome.

Operator

comes Our question Richard Thank from next Instructions] Deutsche you. [Operator Phelan Bank. with

Richard Phelan

I very much. you had questions. thank just Yes, two

$X little if in and first of recognize -- of And the sort of guess, in in guidance regarding at represents similar I QX is slowdown. million. adjusted this adjusted the at look cadence the the last some was the fact conservative Obviously, I one-third concerns full reflecting EBITDA other negative great year, or sort terms qualified I year midpoint. comments was that you quarter your about a one The guidance. here EBITDA of of the to the

the was still in slowdowns, So, customers barring last even a QX I terms that could year, which disastrous assume QX. production would from your impacted beat significantly of by

leverage, with in adjusted really the question year how banks revolver, related obviously And thoughts the European you're in concentrated with then to you much preferred actions I to is with underperformance respect prospects? guess mentioned EBITDA the second really in refi your you. for to of first the you've in your So, guidance second that in the is for And refinancing, the Thank this the quarter? question bond improvement that conjunction on the you what that? U.S., the about is any progress the talking might made

Timothy Trenary

Okay, Richard, for Thank its Tim. you your questions.

First me the be with clear guidance, by mean not last that we respect be just performance of an of of year near anomaly. let all, just to to sort -- I in anticipate QX that any saying start do year. to last anywhere this of was year

do don’t we in we to fairly no, expect So, really -- not perform QX. well

Here's it's conservative abundance of the think impossible and an changing way, by our caution I year for know we're being sure, about acting how of And guidance. of guidance. out remainder so not the to this and I just and just think the

supply to this to rise EBITDA That's those this ability manage in shift XXX and effectively how that, had company's Here's margin. to that had with our XX% all sales. and you ability company's gave all manage operations and I favorable notwithstanding what this and in quarter. extent outage, mix shift, and on the the chain convert in if the to to improvement the up, therefore, this operators In ability points by mix our better basis frankly, QX think that by customers respect we difficulties will, that first get of some Mexico covered quarter, about of sort to power it the with the

our production want the nobody from for it closures in facility on again, who that the It's already seeing believe like But to sure, in okay. and here started Now, subside be QX, and production. America, difficulties looks depending we're many the OEM that the QX knows believe, in bit it quarter. of little reason to a schedule worst call-offs of North in QX with the QX, standpoint there's you but may customers on will

perhaps in rough North QX levels little So, nothing, production subside here last going perhaps, nothing, in year, QX. nothing especially lower but and there's some like a America, in

QX, -- Now, production and extent what and to of are this, QX will lower to even QX, happen supercharging, volumes because OEMs in may after the QX. may the in be if the you is we that back inventories and assemblers, throttle had in will, low perhaps see a maybe

is our laid what the here out So, I've could result pass, we company, a have that just comes that, than better there for that to which right guidance if scenario is in out frankly, now. it year much

roundabout fact saying that of we the out abundance the for our really notwithstanding is is because scenario So, changed company. way out, the be of caution, haven't just of which guidance of the favorable quite just laid an I uncertainty,

Richard Phelan

Okay. Thank you.\

Timothy Trenary

our of Clemens, our is terms with in structure, he conversations And with Okay. capital here in who's European is partners. Treasurer me and today, our banking

you're listen €XX to we know, facility -- just may on over I'm you As give with that. and there million where have Clemens, at a going let you them knowledge firsthand

Clemens Denks

And the European a to that don't expect close near initiated to think Yes, put you us, about in with about partners regards successfully revolver, Tim. is we you, leave discussions. we want also to question the I have broader it I'll so Thank -- in our date future. discussions clearly, the I in broader out structure. for capital this are banking think I we the asked then And question actually bond And overall that. refinance? topic. about it's the with specific on the

We dialogue. it -- obviously, is a have been continuous

Having that, not it's is decided overall for cap aware being of said the very This the bond; to are markets the you actually just levered structure. We supportive. us. bond especially

I valid, a together bits to gather and actually us to going think I and all but also take is think pieces your moment So, it's the different point move forward.

Richard Phelan

Okay, you much. great. Thank so

Clemens Denks

Thank you.

Operator

you. Thank

with [Indiscernible] Suisse. comes Credit from question next Our James

Unidentified Analyst

your you. on thank Congratulations Hi, results. and

structure a optimize and thinking about Just that more capital moving think when you question. a your towards gives Are following maybe of on strong your structure? it. off results my optionality? from more about more you you with about type debt How Yes, moving last secured capital you that'd question, clearly are first be can thinking structure, senior you you, some the Thank ways

Timothy Trenary

Tim. its James,

to structure. here need Clemens' to any little we North know, at pandemic your to financial balance I adjust this the the team free and First with of performance that, flow capital driving all of said sheet. bit here management about make there company that respect company's think same his the is the fair on here, in to sheet which through you in therefore do to a working that of is the last the improving on had point all, capital and deleveraging company the results intend Having of degree as but did with what immediate the company. has this revolver that, no point doing EBITDA We point, cash to performance, further notwithstanding a about dramatic of the from changes success from this year, America assembled And Majdi especially was since Europe. ever balance

to time. stay to structure changes been leveraged what sheet. we if will increasing make at is, we've will, pay believe changes -- flow, cash position and in to strong free if balance what and capital do appropriate to finance the is markets improving attention therefore, deleveraging performance, there's long-term put every the the a reason So, that about the appropriate And ourselves that we'll and any that they

Unidentified Analyst

balance quarter? at you. the of sense. was second is Makes what the Thank the And factoring end question

Timothy Trenary

balance, recall $XXX million correctly, factor. outstanding receivables factoring if The I in was

Unidentified Analyst

all for That’s you. Thank Great. me.

Timothy Trenary

Thank you.

Majdi Abulaban

Thank you, James.

Operator

you. over concludes to would today's This Majdi back to remarks. call the like for closing now Thank Q&A. I turn

Majdi Abulaban

technologies executing about Tim created portfolio performance and have closing, In our excited we momentum the referred establishing are our that to. culture we of Thank you. by

industry a growth profitable have recovers. the for as built business We

our that tangible we the and can call. through wish persist for we I challenges the you our to of protects shareholders. best This concludes and in in you and respond market, our a thank proven today. manage I us operating very While volatile that a stakeholders deliver joining environment value way have all

Operator

today's Thank you. Ladies and gentlemen, this concludes teleconference.

You disconnect. may now

Superior Industries International (SUP) 8 May 212021 Q1 Earnings call transcript