Stoneridge Stock Price, News & Analysis

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.

Stoneridge, Inc. (NYSE: SRI) will host a live webcast of its first-quarter 2022 earnings conference call on May 5, 2022, at 9:00 a.m. ET. CEO Jon DeGaynor and CFO Matt Horvath will lead the discussion. Interested investors can access the webcast on the company's website under the Investors section. Stoneridge specializes in designing and manufacturing advanced electrical and electronic components for various vehicle markets, including automotive and commercial sectors.

Stoneridge, Inc. (NYSE: SRI) reported Q4 2021 results with sales of $203.7 million and a loss per share of ($0.23). Full-year sales reached $770.5 million, with an EPS of $0.12. Adjusted loss per share for 2021 was ($0.59). The company anticipates 2022 adjusted sales between $860-$900 million and an adjusted EPS guidance of ($0.15) to $0.10. Stoneridge highlighted a 13% increase in backlog, reaching $3.4 billion, and strong demand for the MirrorEye platform. The company's long-term targets are set for $1.25 billion in revenue and 14% EBITDA margin by 2026.

Stoneridge, Inc. (NYSE: SRI) will host a live webcast of its fourth-quarter 2021 earnings conference call on March 1, 2022, at 9:00 a.m. ET. The call will feature CEO Jon DeGaynor and CFO Matt Horvath. Investors can access the webcast via the Investors section on Stoneridge's website. The company specializes in designing and manufacturing advanced electrical and electronic components for various vehicle markets, including automotive and commercial vehicles. Further details are available on their official website.

Valens Semiconductor (NYSE: VLN) and Stoneridge, Inc. (NYSE: SRI) have partnered to enhance safety in the trucking industry through advanced connectivity solutions. This collaboration aims to address visibility limitations in trucks caused by existing technologies. The two companies are developing a long-reach connectivity solution utilizing Valens' VA6000 chipset, enabling high-quality, zero-latency video for safety-critical applications in tractor trailers. This innovation is expected to reduce operating costs and improve the overall safety experience for drivers.

Stoneridge, Inc. (NYSE: SRI) will present at the Stephens Annual Investment Conference on December 1, 2021, at 1:00 p.m. ET. The presentation will feature CEO Jon DeGaynor and CFO Matt Horvath. Investors can join the presentation via 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 electrical and electronic components for various vehicle markets.

Stoneridge, Inc. (NYSE: SRI) announced a Share Purchase Agreement to sell its 49% stake in Minda Stoneridge Instruments Ltd. to Minda Corporation Limited for $21.5 million. The transaction is expected to close by December 30, 2021, pending customary conditions. Stoneridge CEO Jon DeGaynor highlighted this move as part of the company's strategic transformation, allowing for better resource alignment. The company reported equity earnings from Minda Stoneridge of $1.3 million for the first nine months of 2021 and $1.5 million and $1.6 million for 2020 and 2019, respectively.