Welcome to our dedicated page for Stoneridge news (Ticker: SRI), a resource for investors and traders seeking the latest updates and insights on Stoneridge stock.
Stoneridge, Inc. (NYSE: SRI) is a Novi, Michigan-based global supplier of electronic systems and technologies for transportation, and its news flow reflects developments across its Electronics, Control Devices and Stoneridge Brazil segments. Company press releases and SEC filings highlight product launches, segment performance, strategic reviews and capital structure updates that are relevant for investors and industry observers following SRI stock news.
Recent news emphasizes Stoneridge’s focus on advanced driver information and vision systems, including its MirrorEye camera monitor system, which replaces traditional side-view mirrors with cameras and in-cabin displays. The company reports record MirrorEye sales, new OEM program launches in North America and Europe and the introduction of MirrorEye Multi-Purpose II for buses, coaches and rigid vehicles in Europe, with features such as BSIS, MOIS and digital video output to support safety and regulatory compliance.
Stoneridge also issues news on its SE5000 Smart 2 tachograph for European commercial vehicles, including a next-generation version integrated with OSNMA technology to authenticate GNSS signals and meet EU Mobility Package I requirements. Additional announcements cover significant new business awards in Electronics and Stoneridge Brazil, such as global MirrorEye program extensions and electronic control unit awards for infotainment programs, with the company providing estimated lifetime revenue figures for these programs.
For those tracking SRI news, updates also include quarterly earnings results, guidance changes, cash flow and debt metrics, amendments to the company’s credit facility and a strategic review of the Control Devices business. Stoneridge regularly announces the timing and webcast details of its earnings conference calls and participation in investor conferences, giving investors multiple touchpoints to follow the company’s financial and strategic updates.
Stoneridge, Inc. (NYSE: SRI) announced that Jeffrey P. Draime will not seek re-election to the Board of Directors at the upcoming 2023 Annual Meeting. Draime, son of the founder, has contributed to the Board since 2005. Bill Lasky, Chairman of the Board, emphasized Draime's integrity and impact on the Company’s values. The Board is engaging a third-party firm to find a replacement, focusing on aligning expertise with the Company’s long-term strategy and promoting diversity. Lasky expressed confidence in attracting a candidate capable of accelerating the Company’s transformation, while Draime affirmed the Company's strong future and management team.
Stoneridge, Inc. (NYSE: SRI) announces the resignation of President and CEO Jon DeGaynor for personal reasons, effective immediately. Jim Zizelman, previously president of the Control Devices division, has been appointed as the new CEO. Zizelman, who joined Stoneridge in 2020, has extensive experience in engineering and program management from his time at Aptiv. The Board expressed confidence in Zizelman’s leadership abilities to further advance the company's strategic goals. Bill Lasky, chairman of the Board, acknowledged DeGaynor's contributions during his tenure in transforming Stoneridge's global portfolio and aligning it with transportation industry trends.
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.