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Mar 31, 2024
Stoneridge Q1 2024 Earnings Report
Reported sales of $239.2 million and a loss per share of $(0.22).
Key Takeaways
Stoneridge reported a decrease in sales to $239.2 million and a loss per share of $(0.22) for Q1 2024. The results were impacted by unfavorable foreign currency effects, equity interest expenses, and incremental warranty-related expenses. However, the company is maintaining its full-year 2024 guidance.
Electronics segment experienced strong top-line growth.
Gross margin improved by 170 basis points compared to Q1 2023 due to efforts to reduce material costs.
Operating margin improved by 160 basis points compared to Q1 2023 due to streamlining the operating structure and centralizing key functions.
Company is focused on mitigating historical quality issues that resulted in $2 million of incremental costs this quarter.
Revenue by Segment
Forward Guidance
The Company is maintaining its previously provided full-year 2024 guidance ranges.
Positive Outlook
- Sales guidance of $990.0 million - $1,010.0 million
- Gross margin guidance of 22.0% - 22.75%
- Operating margin guidance of 2.75% - 3.25%
- EBITDA guidance of $64 million - $70 million (EBITDA margin of 6.5% - 6.9%)
- EPS guidance of $0.30 - $0.40
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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