Stoneridge (SRI) Misses Q3 EPS by 1c, Offers Guidance

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Go back to Stoneridge (SRI) Misses Q3 EPS by 1c, Offers Guidance

Stoneridge Reports Third-Quarter 2022 Results

November 2, 2022 4:45 PM EDT

THIRD-QUARTER PERFORMANCE REFLECTS MARGIN EXPANSION DRIVEN BY STRONG OPERATING PERFORMANCE AND CONTINUED REVENUE GROWTH

SEQUENTIAL GROWTH EXPECTED TO CONTINUE IN Q4 PROVIDING STRONG RUN-RATE INTO 2023

2022 Third-Quarter Results

Sales of $226.8 millionAdjusted sales of $214.0 million (4.0% growth over Q2 2022)Gross profit of $49.4 million (23.1% of adjusted sales, a 440 basis point improvement over Q2 2022)Operating income of $5.9 million Adjusted operating income of $6.1 million (2.9% of adjusted sales, a 600 basis point improvement over Q2 2022)Adjusted EBITDA of $12.1 million (5.6% of adjusted sales, a 450 basis point... More