Stoneridge Stock Price, News & Analysis

Stoneridge, Inc. (NYSE: SRI) announced that CEO Jon DeGaynor and CFO Matt Horvath will participate in a fireside chat at the Stephens Annual Investment Conference at 4:00 p.m. ET on November 15, 2022. Interested participants can access the webcast through the Investors/Webcasts & Presentations section of their website. Additionally, Stoneridge will demonstrate the safety features of its MirrorEye system in an equipped truck.

Stoneridge, Inc. (NYSE: SRI) reported third-quarter 2022 sales of $226.8 million, an increase from previous periods. Adjusted sales reached $214.0 million, reflecting a 4.0% sequential growth. Gross profit improved to $49.4 million, representing 23.1% of adjusted sales. Despite challenges, the company expects continued growth in Q4, projecting adjusted revenue between $234 – $244 million. Adjusted EPS guidance for the year was decreased to a range of ($0.32) to ($0.26). The firm anticipates ongoing revenue growth driven by program launches and improved material availability.

Stoneridge, Inc. (NYSE: SRI) will host a webcast of its third-quarter 2022 earnings conference call on November 3, 2022, at 9:00 a.m. ET. The call will feature President and CEO Jon DeGaynor and CFO Matt Horvath. Investors can access the webcast on the Webcasts & Presentations section of the company's website. Stoneridge specializes in highly engineered electrical and electronic components for the automotive, commercial, off-highway, and agricultural vehicle markets. Further company information is available at www.stoneridge.com.

Stoneridge, Inc. reported second-quarter 2022 sales of $220.9 million, with an adjusted operating loss of $6.5 million and a loss per share of $0.27. Gross profit was $38.6 million, representing 18.7% of adjusted sales. The company reduced its full-year revenue guidance by $15 million to a midpoint of $865 million due to slower customer production despite strong demand. Adjusted EPS guidance was revised to a midpoint of ($0.20). Foreign currency impacts negatively affected earnings by $0.06 per share. The OEM MirrorEye® program shows promise with expected take rates exceeding 50% in 2023.

Stoneridge, Inc. (NYSE: SRI) will present at the J.P. Morgan Auto Conference in New York City on August 9, 2022, at 11:50 a.m. ET. The presentation will be made by Jon DeGaynor, president and CEO, along with CFO Matt Horvath. Interested parties can join the presentation via webcast, with details available on the Company's website under the Investors/Webcasts & Presentations section. Stoneridge is known for its innovative electrical and electronic components utilized in various vehicle markets.

Stoneridge, Inc. (NYSE: SRI) will host a live webcast of its second-quarter 2022 earnings conference call on August 4, 2022, at 9:00 a.m. ET. Led by president and CEO Jon DeGaynor and CFO Matt Horvath, the call will provide insights into the company's financial performance. Investors can access the webcast through the Webcasts & Presentations section on the company's website.

Stoneridge, headquartered in Novi, Michigan, specializes in engineered components for automotive, commercial, and agricultural markets.

Stoneridge Inc. (NYSE: SRI) announced the appointment of Salvatore Orsini as chief procurement officer effective July 5, 2022. Orsini will oversee the company's global procurement, including purchasing and supply chain strategy. He brings over 25 years of experience from notable positions in automotive and aerospace sectors. Additionally, Kevin Heigel transitioned to a consulting role, while Archie Nimmer will continue leading global operations. This reorganization aims to enhance Stoneridge’s supply chain resilience amid ongoing global challenges.

On June 7, 2022, Stoneridge, Inc. (NYSE: SRI) announced that its CEO Jon DeGaynor and CFO Matt Horvath will present at the Deutsche Bank Global Auto Industry Conference on June 16, 2022, at 1:35 p.m. ET. Investors can access the presentation via a webcast, with details available on the company's website under the Investors/Webcasts & Presentations section.

Stoneridge, based in Novi, Michigan, specializes in designing and manufacturing advanced electrical and electronic components for various vehicle markets.

Stoneridge, Inc. (SRI) reported its Q1 2022 results, posting sales of $221.1 million and a loss per share of ($0.28). Adjusted sales were $196.6 million, with a gross profit of $41.4 million (21.1% of adjusted sales). The company maintains full-year revenue guidance of $860 million to $900 million and expects improved margins driven by cost recovery efforts. However, it anticipates incremental tax expenses affecting adjusted EPS guidance of ($0.15) to $0.10. Notably, the MirrorEye platform saw strong OEM take rates with ongoing fleet expansions.