Superior Group restates Q2/Q3 2021 financials due to $1.8M deferred tax error

SUPERIOR GROUP OF COMPANIES, INC.

Failed to reverse deferred tax liabilities from pension plan termination; $6.9M charge booked in Q2 2021.
Additional tax benefit of ~$1.8M; balance sheet impact: deferred tax assets +$0.4M, deferred tax liabilities -$1.4M.
All adjustments are non-cash; Company will file amendments to Form 10-Qs for Q2 and Q3 2021.
Material weakness in internal control over financial reporting for income taxes identified as of June/Sept 2021.
Audit Committee discussed with independent auditor Mayer Hoffman McCann P.C.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.