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Dec 31, 2021
Stoneridge Q4 2021 Earnings Report
Stoneridge reported Q4 2021 results with sales of $203.7 million and a loss per share of ($0.23).
Key Takeaways
Stoneridge, Inc. reported fourth-quarter sales of $203.7 million with a loss per share of ($0.23). The company achieved sequential improvement in net supply chain-related costs and establishes 2022 EBITDA guidance of $43 million – $54 million. Backlog growth in 2021 driving 2026 revenue target of $1.25 billion.
Q4 sales were $203.7 million.
Loss per share was ($0.23).
Adjusted EBITDA was $2.4 million (1.3% of adjusted sales).
Backlog grew to $3.4 billion in 2021, a 13% increase over the previous year.
Revenue by Segment
Forward Guidance
The Company announced 2022 adjusted sales guidance of $860 - $900 million. Further, the Company announced guidance for 2022 adjusted gross margin of 21.5% - 22.5%, adjusted operating margin of 0.75% - 1.75% and adjusted EBITDA of $43 million - $54 million or 5.0% - 6.0% of adjusted sales.
Positive Outlook
- Midpoint revenue guidance of $880 million implies approximately 17% growth relative to 2021 or approximately 2x weighted average end markets.
- Expect to continue to offset a significant portion of supply chain related costs in 2022 as we negotiate price increases with our customers.
- Continue to execute on initiatives to reduce supply chain related costs.
- Remain focused on efficient cash management and in particular, reduced inventory balances, to help return our leverage ratios to more normalized rates by the end of the year.
- Expect strong incremental contribution on revenue.
Challenges Ahead
- Expect continued incremental supply chain related costs, particularly related to material cost increases.
- Wage and incentive normalization relative to 2021 when incentive targets were not achieved.
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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