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Sep 30, 2024
Stoneridge Q3 2024 Earnings Report
Reported third quarter results with focus on operational efficiency and key growth initiatives.
Key Takeaways
Stoneridge reported Q3 2024 results with sales of $213.8 million. The company's performance was impacted by macroeconomic headwinds, but efforts to improve operational efficiency helped offset some challenges. The company is focused on key growth initiatives, including MirrorEye and Leak Detection Module technology.
Sales reached $213.8 million.
Gross profit was $44.5 million.
Loss per share was $(0.26).
MirrorEye to be standard on European truck platforms.
Revenue by Segment
Forward Guidance
The Company is updating its previously provided full-year 2024 guidance ranges including sales guidance of $895 million to $905 million, adjusted gross margin guidance of approximately 21.5%, adjusted operating margin guidance of approximately 1.0%, adjusted loss per share guidance of $(0.35) to $(0.40) and adjusted EBITDA guidance of $42 million to $44 million, or approximately 4.7% of sales.
Positive Outlook
- Focus on improving business fundamentals.
- Controlling variables within our control.
- Responding efficiently and effectively to macroeconomic headwinds.
- Drive performance improvement throughout the business.
- Focus on inventory reduction to improve our cash position and reduce our leverage profile.
Challenges Ahead
- Industry-wide macroeconomic headwinds are resulting in reduced production expectations.
- Weighted average end markets are expected to decline by 3.6% relative to our previously provided guidance.
- Expecting non-OEM and option-based products revenue to be aligned with the low-end of the previously provided range.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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