Stoneridge (NYSE:SRI) Stock

Stoneridge

Stoneridge Inc is a manufacturer of electrical and electronic components used in automotive vehicles. The company produces instrumentation systems, vehicle management electronics, application-specific switches and actuators, sensors, security alarms, and vehicle tracking devices and monitoring services for commercial, automotive, off-highway, and agricultural vehicle markets. Stoneridge generates the majority of its revenue in its Electronics segment that produces driver information systems, camera-based vision systems, connectivity, and compliance products, and electronic control units. Geographically, the company's operations are focused on North America. It has Control Devices, Electronics, and Stoneridge Brazil segments.

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<li>Stoneridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRI#NYSE">SRI</a>) stock declined by 24.36% to $7.02. The market value of their outstanding shares is at $194.2 million. As per the news, the Q3 earnings report came out yesterday. </li>
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See Also: <a href="http://www.benzinga.com/money/best-consumer-cyclical-stocks/" title="www.benzinga.com/money/best-consumer-cyclical-stocks/">www.benzinga.com/money/best-consumer-cyclical-stocks/</a></li>
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Stoneridge shares are trading lower after the company reported worse-than-expected Q3 financial results and cut its FY24 guidance.

Stoneridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRI#NYSE">SRI</a>) lowers FY2024 Adj EPS guidance from $0.18-0.28 to $(0.40)-(0.35) vs $0.20 analyst estimate. Lowers FY2024 sales outlook from $940.00 million-970.00 million to $895.00 million-905.00 million vs $944.94 million estimate.

Guidance

Stoneridge Lowers FY2024 Adj EPS Guidance from $0.18-0.28 to $(0.40)-(0.35) vs $0.20 Est; Lowers FY2024 Sales Guidance from $940.00M-970.00M to $895.00M-905.00M vs $944.94M Est

Stoneridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRI#NYSE">SRI</a>) reported quarterly losses of $(0.24) per share which missed the analyst consensus estimate of $0.08 by 400 percent. The company reported quarterly sales of $213.831 million which missed the analyst consensus estimate of $229.642 million by 6.89 percent. This is a 10.22 percent decrease over sales of $238.164 million the same period last year.

Earnings

Earnings Misses

Stoneridge Q3 2024 Adj. EPS $(0.24) Misses $0.08 Estimate, Sales $213.831M Miss $229.642M Estimate

Stoneridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRI#NYSE">SRI</a>) will release its quarterly earnings report on Wednesday, 2024-10-30. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate Stoneridge to report an earnings per share (EPS) of $0.08.
Investors in Stoneridge are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Earnings Track Record</h3>
The company's EPS beat by $0.19 in the last quarter, leading to a 6.19% increase in the share price on the following day.
Here's a look at Stoneridge's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.02</td>
<td>-0.04</td>
<td>0.10</td>
<td>-0.02</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.17</td>
<td>-0.09</td>
<td>0.12</td>
<td>0.10</td>
</tr>
<tr>
<td>Price Change %</td>
<td>6.0%</td>
<td>-1.0%</td>
<td>-4.0%</td>
<td>3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730221274_0.png" alt="eps graph" />
<h3>Market Performance of Stoneridge's Stock</h3>
Shares of Stoneridge were trading at $9.61 as of October 28. Over the last 52-week period, shares are down 41.59%. Given that these returns are generally negative, long-term shareholders are likely upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/SRI/earnings">To track all earnings releases for Stoneridge visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

An Overview of Stoneridge's Earnings

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Shares of auto-related companies are trading lower amid overall market weakness on US economic concerns. An economic slowdown could impact demand.

Reducing full-year 2024 revenue midpoint&nbsp;guidance&nbsp;by&nbsp;$45 million&nbsp;to reflect updated FX rates (~$12 million&nbsp;impact), updated OEM production volumes (~$18 million&nbsp;impact) and potential volatility in non-OEM and customer demand-based products (~$15 million&nbsp;impact).
Reducing adjusted operating margin and EBITDA margin expectations to reflect lower contribution from reduced revenue expectations, offset by improved gross margin performance and continued operating cost control

Stoneridge Cuts FY24 Revenue Guidance From $990M - $1.01B To $940M - $970M ($991.884M), Adjusted EPS To $0.18 - $0.28 (Est $0.15)

Stoneridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRI#NYSE">SRI</a>) reported quarterly earnings of $0.17 per share which beat the analyst consensus estimate of $(0.02) by 950 percent. This is a 440 percent increase over losses of $(0.05) per share from the same period last year. The company reported quarterly sales of $237.059 million which missed the analyst consensus estimate of $242.604 million by 2.29 percent. This is a 11.15 percent decrease over sales of $266.814 million the same period last year.

Earnings Beats

Stoneridge Q2 2024 Adj. EPS $0.17 Beats $(0.02) Estimate, Sales $237.059M Miss $242.604M Estimate

PLUG

Shares of EV-related stocks are trading higher following recent CPI Data. The Department of Energy announced a $1.7 billion to convert 11 shuttered or at-risk auto facilities to manufacture electric vehicles and their supply chain.

Stephens &amp; Co. analyst Justin Long initiates coverage on Stoneridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRI#NYSE">SRI</a>) with a Overweight rating.

Initiation

Analyst Ratings

Stephens & Co. Initiates Coverage On Stoneridge with Overweight Rating

Stoneridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRI#NYSE">SRI</a>) reported quarterly losses of $(0.09) per share which missed the analyst consensus estimate of $(0.04) by 125 percent. This is a 64 percent increase over losses of $(0.25) per share from the same period last year. The company reported quarterly sales of $239.16 million which beat the analyst consensus estimate of $222.99 million by 7.25 percent. This is a 0.90 percent decrease over sales of $241.32 million the same period last year.

Stoneridge Q1 Adj EPS $(0.09) Misses $(0.04) Estimate, Sales $239.16M Beat $222.99M Estimate

Stoneridge Maintains FY24 EPS $0.30-$0.40 Vs $0.30 Est.; Sales $990M-$1.010B Vs $992.854M Est.

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Shares of companies within the auto and auto components sector are trading lower amid overall market weakness following hotter-than-expected March inflation data.

The company provides gross margin&nbsp;guidance&nbsp;of&nbsp;22.0%&nbsp;to&nbsp;22.75%, operating margin&nbsp;guidance&nbsp;of&nbsp;2.75%&nbsp;to&nbsp;3.25%,&nbsp;and EBITDA&nbsp;guidance&nbsp;of&nbsp;$64&nbsp;million&nbsp;to&nbsp;$70&nbsp;million, or&nbsp;6.5%&nbsp;to&nbsp;6.9%&nbsp;of sales.

Stoneridge Expects Full-Year 2024 Sales Of $990M-$1.01B (Est $984M), EPS Of $0.30-$0.40 (Est $0.45)

Stoneridge Maintains 2027 Long-Term Target And Establishes 2028 Revenue Target Of $1.35B-$1.55B And EBITDA Margin Target Of 12.0%-14.0%

Stoneridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRI#NYSE">SRI</a>) reported quarterly earnings of $0.12 per share which beat the analyst consensus estimate of $0.10 by 20 percent. The company reported quarterly sales of $229.50 million which missed the analyst consensus estimate of $233.10 million by 1.54 percent. This is a 0.74 percent decrease over sales of $231.20 million the same period last year.

Stoneridge Q4 2023 Adj EPS $0.12 Beats $0.10 Estimate, Sales $229.50M Miss $233.10M Estimate

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Earnings Scheduled For February 28, 2024

Stoneridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRI#NYSE">SRI</a>) is set to give its latest quarterly earnings report on Wednesday, 2024-02-28. Here's what investors need to know before the announcement.
Analysts estimate that Stoneridge will report an earnings per share (EPS) of $0.10. 
Stoneridge bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company beat EPS by $0.12, which was followed by a 2.6% increase in the share price the next day.
Here's a look at Stoneridge's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.02</td>
<td>-0.04</td>
<td>-0.30</td>
<td>0.18</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.10</td>
<td>-0.05</td>
<td>-0.25</td>
<td>0.01</td>
</tr>
<tr>
<td>Price Change %</td>
<td>3.0%</td>
<td>14.000000000000002%</td>
<td>-12.0%</td>
<td>-12.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1709056888_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Stoneridge were trading at $18.42 as of February 26. Over the last 52-week period, shares are down 21.87%. Given that these returns are generally negative, long-term shareholders are likely upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/SRI/earnings">To track all earnings releases for Stoneridge visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Stoneridge Earnings Preview

Stoneridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRI#NYSE">SRI</a>) reported quarterly earnings of $0.10 per share which beat the analyst consensus estimate of $(0.02) by 600 percent. This is a 233.33 percent increase over earnings of $0.03 per share from the same period last year. The company reported quarterly sales of $238.16 million which missed the analyst consensus estimate of $242.40 million by 1.75 percent. This is a 5.03 percent increase over sales of $226.76 million the same period last year.

Stoneridge Q3 2023 Adj EPS $0.10 Beats $(0.02) Estimate, Sales $238.16M Miss $242.40M Estimate

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Earnings Scheduled For November 1, 2023

Press Releases

Stoneridge, Inc. To Broadcast Its Second Quarter 2024 Conference Call On The Web

Stoneridge to Present at 2024 J.P. Morgan Auto Conference

Stoneridge Reports Second Quarter 2024 Results

Stoneridge to Present at CL King's 22nd Annual Best Ideas Conference

Stoneridge, Inc. To Broadcast Its Third Quarter 2024 Conference Call On The Web

DB Schenker Pilots Stoneridge's MirrorEye® Camera Monitor System on North American Fleet

Stoneridge Announces Next MirrorEye® Program on New Freightliner Fifth Generation Cascadia

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