Stoneridge Stock Price, News & Analysis

Stoneridge (NYSE: SRI) announced changes to its Board of Directors, with two longstanding board members, George S. Mayes, Jr. and Paul J. Schlather, retiring for personal reasons. They will not seek reelection as part of the Company's 2025 Slate of Directors.

The Board has decided to reduce its membership from nine to seven by not filling these vacancies. Mayes, who joined in 2012, served as Chairman of the Compliance and Ethics Committee, while Schlather, a board member since 2009, contributed expertise in financial oversight and corporate governance.

William M. Lasky, Chairman of the Board, expressed gratitude for their dedicated service and contributions to Stoneridge, a global designer and manufacturer of electrical and electronic systems for automotive, commercial, off-highway and agricultural vehicle markets.

Stoneridge (NYSE: SRI) has announced a three-year agreement with Direct Energy, an NRG Energy brand, to power its Lexington, Ohio manufacturing facility with 100% renewable energy through renewable energy certificates (RECs). The initiative will generate over 13,000 megawatt hours (MWh) of carbon-free electricity annually, equivalent to eliminating 13.5 million pounds of CO₂ emissions per year.

The RECs will be sourced from a wind facility, demonstrating Stoneridge's commitment to environmental responsibility and operational efficiency. The company's global sustainability efforts extend to other facilities in Manaus, Brazil; Tallinn, Estonia; and Örebro, Sweden, which already utilize green or low-carbon energy sources.

Stoneridge (NYSE: SRI) reported Q4 2024 financial results with sales of $218.2 million and a net loss of $(6.1) million. Full-year 2024 sales reached $908.3 million with a net loss of $(16.5) million.

Key highlights include a $43 million improvement in operating cash flow year-over-year, driven by a $36 million reduction in inventory. The company's MirrorEye® technology is expected to contribute over $50 million in incremental revenue for 2025.

For 2025, Stoneridge projects revenue between $860-890 million with EBITDA guidance of $38-42 million. Looking ahead to 2026, the company targets revenue of at least $975 million and EBITDA of minimum $70 million. The company expects approximately 3.8% decline in OEM market volume versus 2024.

Stoneridge (NYSE: SRI), a global supplier of electronic systems for vehicles, announced it will host its fourth quarter 2024 earnings conference call on Thursday, February 27, 2025, at 9:00 a.m. ET. The webcast will feature presentations from president and CEO Jim Zizelman and CFO Matt Horvath.

Investors can access the webcast through the Presentations & Events page in the Investors section of Stoneridge's website. The company, headquartered in Novi, Michigan, specializes in providing safe and efficient electronic systems and technologies for on- and off-highway transportation sectors worldwide.

Stoneridge (NYSE: SRI) announced its participation in the 2024 Stephens Annual Investment Conference, featuring a fireside chat on November 19, 2024, in Nashville. The company will showcase its Innovation Truck, demonstrating advanced technologies including:

- MirrorEye® camera monitor system
- AI-powered driver assistance features
- Intelligent connected trailer system with HD cameras and sensors
- Enhanced cockpit displays with 360-degree visibility
- Multi-feature camera wings with integrated signals

The Innovation Truck represents Stoneridge's commitment to advancing vehicle safety, efficiency, and driver comfort through technological innovation. Conference participants can experience these features through ride-along demonstrations.

Stoneridge (NYSE: SRI) reported Q3 2024 financial results with sales of $213.8 million, gross profit of $44.5 million, and adjusted EBITDA of $9.2 million. The company reported a loss per share of $(0.26) and adjusted EPS of $(0.24). Notably, MirrorEye will become standard equipment on several European truck platforms and will launch with Daimler Truck North America in mid-2025. The company updated its 2024 guidance, projecting revenue of $895-905 million, adjusted EBITDA of $42-44 million, and adjusted EPS of $(0.35)-$(0.40), reflecting reduced market expectations across end markets.

Stoneridge (NYSE: SRI) announced its MirrorEye® Camera Monitor System will be available on Daimler Truck North America's new fifth generation Freightliner Cascadia, starting production in mid-2025. This marks Stoneridge's third North American OEM program with factory-installed camera monitor systems. The MirrorCam System features independent camera wings with high mounting positions, three high-resolution in-cab displays, automatic trailer position adjustment, and infrared technology with hydrophobic coatings. The system enhances driver awareness, reduces blind spots, and improves fuel efficiency through aerodynamic design.

Stoneridge, Inc. (NYSE: SRI) announced that DB Schenker is piloting its MirrorEye® Camera Monitor System (CMS) on 75 trucks in its North American fleet. MirrorEye replaces traditional mirrors with integrated cameras and monitors, enhancing safety by reducing blind spots and improving vision in challenging conditions. The system also includes digital video recording and retrieval capabilities.

DB Schenker aims to enhance driver safety and improve fuel efficiency by eliminating traditional mirrors. This aligns with their emissions reduction efforts for CO2 savings in land transportation. If the pilot is successful, DB Schenker plans to expand MirrorEye implementation across its entire North American fleet.

The collaboration supports DB Schenker's commitment to safety and sustainability in fleet operations, while showcasing Stoneridge's focus on driver and fleet-oriented technology offering improved visibility and operational efficiency.

Stoneridge (NYSE: SRI) has announced it will webcast its third quarter 2024 earnings conference call on Thursday, October 31, 2024, at 9:00 a.m. ET. The call will feature president and CEO Jim Zizelman and CFO Matt Horvath. Investors can access the webcast through the Presentations & Events page in the Investors section of the company's website, www.stoneridge.com.

Stoneridge, headquartered in Novi, Michigan, is a global designer and manufacturer of highly engineered electrical and electronic systems, components and modules for the automotive, commercial, off-highway and agricultural vehicle markets.