CHICAGO -- Auto parts maker Superior Industries International Inc. on Friday forecast a weaker-than-expected second-quarter profit, citing declining orders.
The company said it expects net earnings of 15 cents to 17 cents a share. Analysts' average forecast was 23 cents, according to Reuters Estimates.
Superior, based in Van Nuys, Calif., said the decline in orders has reduced plant utilization, work schedules and gross margin more than anticipated.
It said it continues to win "substantial new and replacement wheel programs" and is moving ahead with its cost-reduction and automation initiatives.
The company, which makes aluminum wheels and other aluminum auto parts, plans to report financial results for the second quarter in late July.