Stoneridge

Stoneridge, Inc. engages in the production of engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. It operates through the following segments: Control Devices, Electronics, and Stoneridge Brazil. The Control Devices segment designs and manufactures products that monitor, measure, and activate specific functions within a vehicle such as sensors, switches, valves, and actuators. The Electronics segment offers driver information systems, camera-based vision systems, connectivity and compliance products, and electronic control units. The Stoneridge Brazil segment sells vehicle tracking devices and monitoring services, vehicle security alarms and convenience accessories, in-vehicle audio and infotainment devices, and telematics solutions. The company was founded by D. M. Draime in 1965 and is headquartered in Novi, MI.

Earnings data Q1 2024

Stoneridge Exceeds Q1 Sales Expectations, Focuses on Margin Expansion

Stoneridge's Q1 performance exceeded sales expectations but faced challenges with negative adjusted EPS and gross margin decline. The company is focused on margin expansion, cost recovery actions, and improving manufacturing performance, while reaffirming full year 2023 guidance.

Stoneridge (SRI) exceeds Q2 expectations, secures new business awards

Stoneridge (SRI) delivered robust Q2 2023 results, surpassing expectations and securing new business awards. While maintaining strong financial performance, the company faces challenges in optimizing margins amidst debt refinancing. However, opportunities for growth and capital optimization are evident.

Stoneridge reports improved Q3 performance, anticipates 2024 growth opportunities

Stoneridge's Q3 earnings call highlighted improved performance, participation in innovative programs, and a proactive approach to financial management. However, the UAW strike posed significant challenges, impacting revenue and operating income. Despite this, the company remains committed to delivering on its commitments and driving shareholder value.

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Highlights Progress on Environmental, Social, and Governance Initiatives NOVI, Mich. , April 10, 2024 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) today published its inaugural sustainability report  which highlights the company's global progress related to its environmental, social, and governance (ESG) initiatives through fiscal year 2023.

Stoneridge Releases Inaugural Sustainability Report

CLAREMONT, N.C., March 22, 2024 /PRNewswire/ -- Cargo Transporters, Inc., a truckload, dry van carrier is proud to announce the adoption of Stoneridge, Inc.'s (NYSE: SRI) MirrorEye® Camera Monitor System (CMS), a cutting-edge system designed to provide the driver with a more complete view of operating conditions over traditional truck mirrors.

Cargo Transporters, Inc. Adopts Stoneridge's MirrorEye® Camera Monitor System

NOVI, Mich. , March 14, 2024 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) today announced the appointment of Troy Cooprider to the position of chief technology officer.

Stoneridge Appoints Troy Cooprider as Chief Technology Officer

Stoneridge, Inc. (NYSE:SRI) Q4 2023 Earnings Conference Call February 29, 2024 9:00 AM ET

Stoneridge, Inc. (SRI) Q4 2023 Earnings Call Transcript

Achieves Q4 Sequential EPS Improvement In Line with Prior Expectations Establishes 2024 Midpoint Revenue Guidance of $1 Billion And Midpoint EBITDA of $67 Million (Midpoint EBITDA Margin Expansion Of 170 Basis Points vs. 2023) Maintains 2027 Long-Term Target and Establishes 2028 Revenue Target of $1.35 - $1.55 Billion and EBITDA Margin Target of 12.0% - 14.0% NOVI, Mich.

Stoneridge Reports Fourth Quarter 2023 Results

Industry-leading vision system technology to be featured on FH Aero, All-New VNL models NOVI, Mich. , Feb. 27, 2024 /PRNewswire/ -- Stoneridge Inc. (NYSE: SRI) today announced its MirrorEye® Camera Monitor System will launch on Volvo's all-new heavy-duty truck platforms.

Stoneridge Launching MirrorEye® Camera Monitor System with Volvo Trucks on Global Heavy-Duty Truck Platforms

NOVI, Mich. , Feb. 15, 2024 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) will webcast its fourth-quarter 2023 earnings conference call live on Thursday, February 29, 2024, at 9:00 a.m.

Stoneridge, Inc. To Broadcast Its Fourth-Quarter 2023 Conference Call On The Web

NOVI, Mich. , Feb. 2, 2024 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) announced today that its Federal Motor Carrier Safety Association (FMCSA) exemption for its MirrorEye® Camera Monitor System (CMS) has been renewed for an additional five years.

Stoneridge's MirrorEye® Camera Monitor System Receives FMCSA Exemption Renewal

NOVI, Mich. , Jan. 31, 2024 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) announced today it has published its first Task Force for Climate-Related Financial Disclosures (TCFD) report.

Stoneridge Publishes Inaugural Task Force for Climate-Related Financial Disclosures (TCFD) Report

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Are Investors Undervaluing Stoneridge (SRI) Right Now?

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Is Stoneridge (SRI) Stock Undervalued Right Now?

If you are looking for stocks that have gained strong momentum recently but are still trading at reasonable prices, Stoneridge (SRI) could be a great choice. It is one of the several stocks that passed through our 'Fast-Paced Momentum at a Bargain' screen.

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Should Value Investors Buy Stoneridge (SRI) Stock?

NOVI, Mich. , Nov. 7, 2023 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) today announced that Jim Zizelman, president and chief executive officer, and Matt Horvath, chief financial officer, will participate in the Stephens Annual Investment Conference with a fire-side chat at 5:00 p.m.

Stoneridge to Present at the Stephens Annual Investment Conference

Stoneridge, Inc. (NYSE:SRI ) Q3 2023 Earnings Conference Call November 2, 2023 9:00 AM ET Company Participants Kelly Harvey - Director of Investor Relations Jim Zizelman - President and Chief Executive Officer Matthew Horvath - Chief Financial Officer Conference Call Participants Justin Long - Stephens Operator Good day, and thank you for standing by. Welcome to the conference call of Stoneridge.

Stoneridge, Inc. (SRI) Q3 2023 Earnings Call Transcript

NOVI, Mich. , Nov. 2, 2023 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) announced that, effective today, it has entered into a new three-year $275 million Senior Secured Revolving Credit Facility (the "Facility") with a group of six banks, led by PNC Capital Markets LLC, BOFA Securities, Inc. and JPMorgan Chase Bank, N.A.

STONERIDGE, INC. ANNOUNCES REFINANCING OF ITS EXISTING CREDIT FACILITY WITH NEW $275 MILLION SENIOR SECURED REVOLVING CREDIT FACILITY

THIRD-QUARTER PERFORMANCE REFLECTS CONTINUED MARGIN EXPANSION DRIVEN BY STRONG OPERATING PERFORMANCE 2024 PRELIMINARY OUTLOOK EXPECTS SALES GROWTH OF AT LEAST 5%, SIGNIFICANTLY OUTPERFORMING WEIGHTED AVERAGE END-MARKETS NOVI, Mich. , Nov. 1, 2023 /PRNewswire/ -- 2023 Third-Quarter Results Sales of $238.2 million Adjusted sales of $237.2 million Gross profit of $52.5 million (22.1% of adjusted sales) Operating income of $6.5 million Adjusted operating income of $7.3 million (3.1% of adjusted sales) Adjusted EBITDA of $17.0 million (7.2% of adjusted sales) Earnings per share ("EPS") of $0.08 Adjusted earnings per share of $0.10 2023 Full-year Guidance Refining previously provided guidance ranges to reflect expectation of continued strong margin performance, partially offset by production volume headwinds in the fourth quarter including the expected impact of the UAW strike Adjusted sales of  $965.0 - $975.0 million Adjusted gross margin of ~21.5% Adjusted operating margin of ~2.0% Adjusted EPS of  $(0.10) - $0.00 Midpoint guidance change of ($0.05) aligned with the expected impact of UAW strike of ~($0.05) Adjusted EBITDA margin of ~5.0% Adjusted tax expense of  $4.5 - $5.0 million Midpoint guidance change of ~$1.25 million due to increase in expected tax expense as a result of mix of jurisdictional earnings 2024 Preliminary Revenue Guidance Providing preliminary 2024 guidance for at least 5% growth, which outpaces weighted-average end-markets by at least 6.5%  Stoneridge, Inc. (NYSE: SRI) today announced financial results for the third quarter ended September 30, 2023, with sales of $238.2 million and earnings per share of $0.08.

Stoneridge Reports Strong Third-Quarter 2023 Results

NOVI, Mich. , Oct. 19, 2023 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) will webcast its third-quarter 2023 earnings conference call live on Thursday, November 2, 2023, at 9:00 a.m.

STONERIDGE, INC. TO BROADCAST ITS THIRD-QUARTER 2023 CONFERENCE CALL ON THE WEB

NOVI, Mich. , Sept. 7, 2023 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) today announced that Jim Zizelman, president and chief executive officer, and Matt Horvath, chief financial officer, will participate in the CL King's 21st Annual Best Ideas Conference with a presentation at 2:00 p.m.

Stoneridge to Present at CL King's 21st Annual Best Ideas Conference

NOVI, Mich. , Aug. 24, 2023 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) announced that its facility in Suzhou, China is the recipient of a 2023 Greater Suzhou Best Employer Award.

Stoneridge Asia-Pacific Earns 2023 Greater Suzhou Best Employer Award

Stoneridge (SRI) came out with a quarterly loss of $0.05 per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to loss of $0.29 per share a year ago.

Stoneridge (SRI) Reports Q2 Loss, Tops Revenue Estimates

NOVI, Mich. , Aug. 2, 2023 /PRNewswire/ -- ADVANCING STRATEGIC PRIORITIES WHILE DELIVERING 10%+ QUARTER TO QUARTER SALES GROWTH AND 400+ BASIS POINT GROSS MARGIN EXPANSION  GUIDING TO THE HIGH END OF PREVIOUSLY PROVIDED ADJUSTED SALES, ADJUSTED GROSS MARGIN AND ADJUSTED OPERATING MARGIN RANGES 2023 Second Quarter Results Sales of $266.8 million Adjusted sales of $262.4 million Gross profit of $60.5 million Adjusted gross profit of $60.9 million (23.2% of adjusted sales) Operating income of $4.3 million Adjusted operating income of $6.2 million (2.4% of adjusted sales) Adjusted EBITDA of $11.9 million (4.5% of adjusted sales) Non-operating foreign currency and equity investment expense unfavorably impacted adjusted EBITDA in the quarter by $(2.7) million.

Stoneridge Reports Second Quarter 2023 Results

NOVI, Mich. , July 31, 2023 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) today announced that Jim Zizelman, president and chief executive officer, and Matt Horvath, chief financial officer, will present at the 2023 J.P.

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