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Dec 31, 2020
Stoneridge Q4 2020 Earnings Report
Reported strong fourth-quarter and full-year results, with revenue guidance provided for 2021.
Key Takeaways
Stoneridge reported Q4 2020 sales of $189.7 million and EPS of $0.13. The company is guiding for 2021 revenue of $770 - $790 million and a revenue CAGR of 10%+ from 2021-2025.
Delivered strong financial performance in 2020 by adapting cost structure and managing cash position.
Captured strong incremental margins in the second half of the year through material cost reduction and efficient ramp-up of production facilities.
Continued transformation by rationalizing product portfolio and optimizing manufacturing footprint.
MirrorEye continued to progress with expanded retrofit programs and preparation for OEM program launches in 2021.
Revenue by Segment
Forward Guidance
The Company announced 2021 sales guidance of $770.0 - $790.0 million.
Positive Outlook
- Expecting increased 2021 revenue relative to 2020, with midpoint revenue guidance of $780 million driven primarily by several significant program launches during the year and increased end market production forecasts.
- Midpoint revenue guidance implies approximately 20% growth relative to 2020 which implies growth over market of approximately 5%.
- Expect that the impact of new program launches will drive significant growth.
- Updated our long-term targeted revenue to reflect a compound annual growth rate of at least 10% through 2025, resulting in targeted 2023 revenue of at least $925 million and 2025 revenue of over $1.1 billion.
- Expect that approximately 85% of our 2025 targeted revenue will be drivetrain agnostic.
Challenges Ahead
- 2021 guidance also includes certain assumptions regarding the potential adverse impact of global supply chain disruptions.
- Included an expected adverse margin impact in our guidance due to increased material and logistics costs, which are expected to primarily impact the first half of the year.
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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