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Mar 31, 2021
Stoneridge Q1 2021 Earnings Report
Stoneridge reported strong financial performance in Q1 2021, exceeding expectations despite incurring incremental costs related to global supply chain disruptions.
Key Takeaways
Stoneridge announced its Q1 2021 financial results, with sales of $193.8 million and EPS of $0.00. Adjusted sales were $192.8 million and adjusted EPS was $0.06. The company finalized an agreement to divest its soot sensor business to focus on technology platforms for future growth.
Delivered strong financial performance and exceeded revenue and earnings expectations.
Achieved operating objectives with strong operational efficiency and reduced controllable costs.
Finalized an agreement to divest the soot sensor business.
Continued to expand MirrorEye® platform, preparing for OEM launches and expanding retrofit programs.
Revenue by Segment
Forward Guidance
The Company is maintaining its previously provided revenue guidance primarily due to first quarter outperformance and its expectation that its product portfolio will continue to outperform the underlying market, offsetting full-year forecasted production headwinds. Additionally, due to expected externalities and forecasted unfavorable product mix, partially offset by outperformance in the first quarter, we are reducing our full-year adjusted EPS guidance by $0.13 to a mid-point of $0.55. This results in full-year adjusted EPS guidance of $0.47 to $0.62.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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