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Dec 31, 2024
Stoneridge Q4 2024 Earnings Report
Stoneridge reported a decrease in sales and net loss for the fourth quarter of 2024, with adjusted EBITDA of $6.0 million.
Key Takeaways
Stoneridge, Inc. announced its fourth quarter and full-year 2024 financial results, reporting fourth quarter sales of $218.2 million and a net loss of $(6.1) million. The company's adjusted EBITDA for the quarter was $6.0 million. For the full year, sales were $908.3 million with an adjusted EBITDA of $37.9 million.
Fourth quarter sales were $218.2 million, a decrease from $229.5 million in Q4 2023.
The company reported a net loss of $(6.1) million for the fourth quarter, with an adjusted net loss of $(5.0) million.
Adjusted EBITDA for Q4 2024 was $6.0 million, representing 2.7% of sales.
Net cash provided by operating activities improved by approximately $43 million year-over-year, driven by an inventory reduction of approximately $36 million.
Revenue by Segment
Forward Guidance
Stoneridge is providing full-year 2025 guidance with revenue between $860 million and $890 million, and EBITDA between $38 million and $42 million. The company also set a 2026 revenue target of at least $975 million and an EBITDA target of at least $70 million.
Positive Outlook
- MirrorEye® expected to contribute $50+ million incremental revenue in 2025.
- Continued strong growth in MirrorEye in 2025 driven by new program launches in North America and improved take rates.
- Targeting 2026 revenue of at least $975 million, driven by weighted-average end markets growth of 7.4% and continued ramp-up of OEM MirrorEye programs.
- Targeting 2026 EBITDA of at least $70 million, or 7.2% of sales, with continued focus on improving material costs, direct labor costs, and quality-related costs.
- Long-term targets for 2029 revenue of $1.3 billion to $1.45 billion and EBITDA of $160 million to $200 million, implying an EBITDA margin range of 12.3% to 13.8%.
Challenges Ahead
- Company's expectation of ~(3.8)% decline in OEM market volume vs. 2024.
- Operating margin guidance for 2025 is 0.75% to 1.25%, indicating continued pressure.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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