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Dec 31, 2022
Stoneridge Q4 2022 Earnings Report
Stoneridge reported fourth quarter results with sales of $231.2 million and earnings per share of $0.01.
Key Takeaways
Stoneridge reported Q4 2022 sales of $231.2 million and EPS of $0.01. The results included a $3.7 million adjustment to non-operating income related to a prior quarter correction. Adjusted sales were $225.2 million.
Sales of $231.2 million
Adjusted sales of $225.2 million (5.2% growth over Q3 2022)
Operating income of $6.0 million (2.6% of sales, 2.7% of adjusted sales)
Earnings per diluted share (“EPS”) of $0.01
Revenue by Segment
Forward Guidance
The Company announced 2023 adjusted sales guidance of $960.0 million to $990.0 million. Further, the Company announced 2023 adjusted gross margin guidance of 20.5% to 21.25%, adjusted operating margin guidance of 1.5% to 2.25% and adjusted EBITDA of $50.9 million to $58.4 million or 5.3% - 5.9% of adjusted sales.
Positive Outlook
- Midpoint revenue guidance of $975.0 million resulting in approximately 16% growth relative to 2022.
- Gross margin is expected to be between 20.5% and 21.25%.
- Newly launched programs mature.
- Significant expected revenue growth and continued focus on cost control.
- EBITDA margin expansion of 180 to 240 basis points relative to 2022.
Challenges Ahead
- Adjusted earnings per share guidance of $(0.10) to $0.10.
- Expected tax expense of $4.5 million - $5.5 million.
- Incremental contribution on revenue growth inline with historical average of 25% - 30%.
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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