stoneridge.com © 2024 Forward-Looking Statements stoneridge.com © 2024 3 • Maintaining previously guided full-year 2024 ranges • Reduced inventory balance by $7.9 million and improved compliance leverage ratio by 0.27x to 2.86x vs. Q4 2023 3.0% Growth vs. Q1 2023* +120 bps vs. Q1 2023* $0.03 Growth vs. Q1 2023* Sales EBITDA EPS $1.35B – $1.55B By 2028 ~10% CAGR Growth** Q1 2024 Results Rounding Disclosure: There may be slight immaterial differences between figures represented in our public filings compared ...

Stoneridge, Inc. (NYSE:SRI) Q1 2024 Earnings Conference Call May 2, 2024 9:00 AM ET Company Participants Kelly Harvey - Director of Investor Relations James Zizelman - President and Chief Executive Officer Matthew Horvath - Chief Financial Officer Conference Call Participants Justin Long - Stephens Inc. Gary Prestopino - Barrington Research Associates, Inc. Operator Good day, and welcome to the Stoneridge First Quarter 2024 Earnings Call. All participants will be in a listen-only mode. [Operator Instruction ...

Commission file number: 001-13337 STONERIDGE, INC (Exact name of registrant as specified in its charter) FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended March 31, 2024 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Ohio 34-1598949 (State or other jurisdiction of incorporation or organization) (I.R.S. ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Stoneridge Reports First Quarter 2024 Results Maintains Previously Provided Full-Year 2024 Guidance Driven by Sales Growth and Operating Performance for the Remainder of the Year 2024 First Quarter Results • EBITDA of $6.6 million (2.8% of sales) 2024 Full-Year Guidance • Maintaining previously provided full-year 2024 guidance ranges NOVI, Mich. – May 1, 2024 – Stoneridge, Inc. (NYSE: SRI) today announced financial results for the first quarter ended March 31, 2024, with s ...

Part I [Business](index=4&type=section&id=Item%201.%20Business) Stoneridge designs and manufactures engineered electrical and electronic systems, strategically shifting towards smart products, with commercial vehicles as its largest end market [Overview and Strategy](index=4&type=section&id=Overview%20and%20Strategy) Stoneridge, founded in 1965, strategically shifted to smart products, now nearly 80% of sales, focusing on next-generation vehicle systems - Stoneridge is a global designer and manufacturer of highly engineered electrical and electronic systems for automotive, commercial, off-highway, and agricultural vehicle markets[14](index=14&type=chunk) - The company strategically shifted its product portfolio towards **'smart products' with embedded electronics**, increasing content from over **50% of sales in 2014 to almost 80% in 2023**[16](index=16&type=chunk) - Key growth drivers include the **MirrorEye camera monitor system** and the **SE5000 Smart 2 tachograph product** in European and North American commercial vehicle markets[21](index=21&type=chunk) [Segments and Products](index=5&type=section&id=Segments%20and%20Products) Stoneridge operates three segments: Control Devices (automotive), Electronics (commercial vehicle), and Stoneridge Brazil (South America), with commercial vehicles as the largest end market - The company's business is conducted in three reportable segments: **Control Devices, Electronics, and Stoneridge Brazil**[22](index=22&type=chunk) - **Control Devices** manufactures actuators, sensors, switches, and connectors, primarily for the automotive market[23](index=23&type=chunk) - **Electronics** designs driver information systems, vision/safety systems, and ECUs, principally for the commercial vehicle market[24](index=24&type=chunk) - **Stoneridge Brazil** specializes in vehicle tracking, security alarms, and infotainment for the South American market[25](index=25&type=chunk) Net Sales by Principal End Market | Principal End Markets | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | | Commercial vehicle | 51% | 48% | 39% | | Automotive | 31% | 34% | 41% | | Off-highway and other | 12% | 12% | 12% | | Aftermarket distributors and monitoring services | 6% | 6% | 8% | [Customers and Competition](index=6&type=section&id=Customers%20and%20Competition) Stoneridge faces significant customer concentration and operates in highly competitive markets, competing on technology, price, quality, and service - The company has several significant customers, and the loss of any one would materially impact financial results; contracts are typically for the life of a vehicle model but can be terminated[31](index=31&type=chunk) - The markets for the company's products are highly competitive, with competition based on **technological innovation, price, quality, performance, service, and delivery**[33](index=33&type=chunk) [Human Capital Management](index=7&type=section&id=Human%20Capital%20Management) Stoneridge employs approximately 4,850 people globally, focusing on employee engagement, development, and DEI initiatives, with oversight from HR leadership - As of December 31, 2023, the company employed approximately **4,850 full-time and temporary employees** in **14 countries**, with about **86% located outside the United States**[40](index=40&type=chunk) - The company has established talent management programs including engagement surveys, talent reviews, feedback and coaching, and training to foster employee engagement and development[41](index=41&type=chunk)[42](index=42&type=chunk) - Stoneridge has a steering committee to drive **diversity, equity, and inclusion (DEI) initiatives**, reporting progress to executive leadership and the Board of Directors[43](index=43&type=chunk) [Information about our Executive Officers](index=8&type=section&id=Information%20about%20our%20Executive%20Officers) This section provides a list of Stoneridge, Inc.'s executive officers, including their names, ages, positions, and professional biographies Executive Officers | Name | Age | Position | | :--- | :--- | :--- | | James Zizelman | 63 | President, Chief Executive Officer and Director | | Matthew R. Horvath | 38 | Chief Financial Officer and Treasurer | | Susan C. Benedict | 57 | Chief Human Resources Officer and Assistant General Counsel | | Caetano R. Ferraiolo | 56 | President of the Stoneridge Brazil Division | | Robert J. Hartman Jr. | 57 | Chief Accounting Officer | | Salvatore D. Orsini | 54 | Chief Procurement Officer | | Peter Österberg | 55 | President of the Electronics Division | | Rajaey Kased | 44 | President of the Control Devices Division | [Risk Factors](index=9&type=section&id=Item%201A.%20Risk%20Factors) Stoneridge faces market, customer concentration, financial, operational, and cybersecurity risks that could materially affect its business - The business is highly dependent on the cyclical automotive and commercial vehicle markets; an economic downturn could significantly reduce sales and profitability[54](index=54&type=chunk) - Significant customer concentration exists, with the **top five customers comprising 55% of net sales in 2023**; the loss of a principal customer would have a material adverse effect[57](index=57&type=chunk) - The company is dependent on the availability and price of raw materials, including **semiconductors, memory chips, and resins**, and has experienced difficulty obtaining adequate supplies[69](index=69&type=chunk) - International operations, accounting for approximately **49% of net sales in 2023**, are subject to risks including political instability, trade policies, and currency exchange rate fluctuations[77](index=77&type=chunk) [Cybersecurity](index=16&type=section&id=Item%201C.%20Cybersecurity) Stoneridge implements a comprehensive cybersecurity risk management strategy, overseen by the Audit Committee, with no material threats identified to date - The company has processes to identify, assess, and monitor material risks from cybersecurity threats as part of its overall risk management strategy[95](index=95&type=chunk) - The Audit Committee of the Board of Directors is responsible for board-level oversight of cybersecurity risk and receives regular reports from the Chief Information Officer (CIO)[99](index=99&type=chunk) - The cybersecurity program is managed by the Director of Global IT Architecture and Cybersecurity and the CIO, both with over **30 years of relevant experience**[100](index=100&type=chunk) - To date, no cybersecurity threats have materially affected or are reasonably likely to materially affect the company's business strategy, results of operations, or financial condition[98](index=98&type=chunk) [Properties](index=18&type=section&id=Item%202.%20Properties) As of December 31, 2023, Stoneridge owned or leased seven manufacturing facilities totaling approximately 0.9 million square feet globally Key Manufacturing Facilities | Segment | Location | Ownership | Use | Square Footage | | :--- | :--- | :--- | :--- | :--- | | Control Devices | Lexington, Ohio | Owned | Manufacturing/Engineering | 219,612 | | Control Devices | Suzhou, China | Leased | Manufacturing/Engineering/Sales | 145,033 | | Electronics | Juarez, Mexico | Owned | Manufacturing/Engineering | 235,035 | | Electronics | Tallinn, Estonia | Leased | Manufacturing/Engineering | 85,911 | | Stoneridge Brazil | Manaus, Brazil | Owned | Manufacturing | 94,103 | Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=19&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Stoneridge common shares trade on the NYSE; the company repurchased limited shares for tax purposes and had no formal buyback program in 2023 or 2022 - The company's common shares are traded on the **New York Stock Exchange (NYSE)** under the symbol 'SRI'[107](index=107&type=chunk) - During the three months ended December 31, 2023, **1,236 common shares** were delivered to the company by employees as payment for withholding taxes due upon vesting of equity awards[108](index=108&type=chunk) - The company did not have a Board-approved share repurchase program in effect in either **2023 or 2022**[110](index=110&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=21&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Stoneridge's 2023 net sales increased to $975.8 million, driven by Electronics, resulting in a reduced net loss despite anticipated market declines in 2024 [Overview and Outlook](index=21&type=section&id=Overview%20and%20Outlook) In 2023, net sales increased to $975.9 million, reducing net loss, driven by new product launches, with 2024 outlook anticipating market outperformance despite volume decreases - In 2023, net sales increased by **$75.9 million (8.4%)**, and operating income increased by **$9.9 million**[123](index=123&type=chunk) - The company reported a net loss of **$5.2 million**, or **$(0.19) per diluted share**, for 2023, an improvement from a net loss of **$14.1 million**, or **$(0.52) per diluted share**, in 2022[121](index=121&type=chunk)[122](index=122&type=chunk) - The outlook for 2024 anticipates European and North American commercial vehicle end market volumes to decrease by **10.5% and 7.6%**, respectively, though the Electronics segment expects to outperform[133](index=133&type=chunk) [Year Ended December 31, 2023 Compared To Year Ended December 31, 2022](index=24&type=section&id=Year%20Ended%20December%2031%2C%202023%20Compared%20To%20Year%20Ended%20December%2031%2C%202022) In 2023, net sales increased 8.4% to $975.8 million, driven by Electronics, improving gross margin and operating income, resulting in a reduced net loss Consolidated Statement of Operations Summary (in thousands) | Metric | 2023 | 2022 | Change ($) | | :--- | :--- | :--- | :--- | | Net sales | $975,818 | $899,923 | $75,895 | | Cost of goods sold | $774,512 | $724,997 | $49,515 | | Gross Margin % | 20.6% | 19.4% | +1.2 p.p. | | Operating income | $12,836 | $2,935 | $9,901 | | Net loss | $(5,183) | $(14,056) | $8,873 | Net Sales by Segment (in thousands) | Segment | 2023 | 2022 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Control Devices | $342,065 | $342,596 | $(531) | (0.2)% | | Electronics | $576,539 | $505,097 | $71,442 | 14.1% | | Stoneridge Brazil | $57,214 | $52,230 | $4,984 | 9.5% | | **Total net sales** | **$975,818** | **$899,923** | **$75,895** | **8.4%** | Operating Income by Segment (in thousands) | Segment | 2023 | 2022 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Control Devices | $13,582 | $23,917 | $(10,335) | (43.2)% | | Electronics | $27,309 | $5,128 | $22,181 | 432.5% | | Stoneridge Brazil | $4,454 | $3,150 | $1,304 | 41.4% | | Unallocated corporate | $(32,509) | $(29,260) | $(3,249) | (11.1)% | | **Total operating income** | **$12,836** | **$2,935** | **$9,901** | **337.3%** | [Year Ended December 31, 2022 Compared To Year Ended December 31, 2021](index=27&type=section&id=Year%20Ended%20December%2031%2C%202022%20Compared%20To%20Year%20Ended%20December%2031%2C%202021) In 2022, net sales increased 16.8% to $899.9 million, driven by Electronics, but gross margin declined, leading to a net loss due to higher costs and a prior-year gain absence Consolidated Statement of Operations Summary (in thousands) | Metric | 2022 | 2021 | Change ($) | | :--- | :--- | :--- | :--- | | Net sales | $899,923 | $770,462 | $129,461 | | Cost of goods sold | $724,997 | $603,604 | $121,393 | | Gross Margin % | 19.4% | 21.7% | -2.3 p.p. | | Operating income | $2,935 | $15,411 | $(12,476) | | Net (loss) income | $(14,056) | $3,406 | $(17,462) | Net Sales by Segment (in thousands) | Segment | 2022 | 2021 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Control Devices | $342,596 | $355,775 | $(13,179) | (3.7)% | | Electronics | $505,097 | $357,910 | $147,187 | 41.1% | | Stoneridge Brazil | $52,230 | $56,777 | $(4,547) | (8.0)% | | **Total net sales** | **$899,923** | **$770,462** | **$129,461** | **16.8%** | - The decrease in 2022 operating income was primarily due to the absence of a **$30.7 million gain** on the sale of the Canton Facility recognized in 2021[176](index=176&type=chunk) [Liquidity and Capital Resources](index=30&type=section&id=Liquidity%20and%20Capital%20Resources) As of December 31, 2023, cash decreased to $40.8 million due to capital expenditures and working capital, with $189.3 million drawn on the credit facility Summary of Cash Flows (in thousands) | Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $4,946 | $6,806 | | Net cash used for investing activities | $(36,979) | $(28,581) | | Net cash provided by (used for) financing activities | $17,485 | $(7,297) | - Cash and cash equivalents decreased by **$14.0 million** during 2023, ending the year at **$40.8 million**[129](index=129&type=chunk)[184](index=184&type=chunk) - The outstanding balance on the revolving Credit Facility was **$189.3 million** at December 31, 2023, with **$85.7 million of undrawn commitments** available[193](index=193&type=chunk)[199](index=199&type=chunk) [Critical Accounting Policies and Estimates](index=32&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) Stoneridge's critical accounting policies, including revenue recognition, warranties, contingencies, and income taxes, require significant management judgment and estimates - **Revenue Recognition:** Revenue is recognized when control of products transfers to the customer, usually at shipment; the transaction price may include estimates of variable consideration[205](index=205&type=chunk) - **Warranties:** The warranty liability is based on management's best estimate, considering historical trends, production changes, and the status of existing claims, requiring significant judgment[206](index=206&type=chunk) - **Income Taxes:** Deferred tax assets are recognized but may be reduced by a valuation allowance if it is 'more likely than not' that some portion will not be realized, requiring significant judgment regarding future taxable income[209](index=209&type=chunk)[210](index=210&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=34&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Stoneridge is exposed to interest rate, currency exchange, and commodity price risks, with 98.9% of debt at floating rates and significant international currency exposure - **Interest Rate Risk:** With **98.9% of debt at floating rates**, a **1.0% change in interest rates** would alter annual interest expense by approximately **$1.9 million**[216](index=216&type=chunk) - **Currency Exchange Rate Risk:** A hypothetical **10.0% unidirectional change** in currency exchange rates relative to the U.S. dollar would have changed income before income taxes for 2023 by approximately **$3.0 million**[219](index=219&type=chunk) - **Commodity Price Risk:** The company is subject to market risk from price fluctuations in commodities such as **copper, steel, zinc, and resins**[220](index=220&type=chunk) [Financial Statements and Supplementary Data](index=35&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents Stoneridge's audited consolidated financial statements for 2021-2023, including balance sheets, income statements, cash flows, and comprehensive notes [Consolidated Financial Statements](index=38&type=section&id=Consolidated%20Financial%20Statements) The consolidated financial statements for 2021-2023 show total assets increased to $679.9 million in 2023, with a net loss of $5.2 million Key Financial Metrics (in thousands) | Metric | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | | **Balance Sheet** | | | | | Total Assets | $679,900 | $652,105 | N/A | | Total Liabilities | $392,183 | $371,163 | N/A | | Total Shareholders' Equity | $287,717 | $280,942 | $295,950 | | **Income Statement** | | | | | Net Sales | $975,818 | $899,923 | $770,462 | | Operating Income | $12,836 | $2,935 | $15,411 | | Net (Loss) Income | $(5,183) | $(14,056) | $3,406 | | **Cash Flow** | | | | | Net Cash from Operations | $4,946 | $6,806 | $(36,248) | [Notes to Consolidated Financial Statements](index=43&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes provide detailed explanations of accounting policies and financial data, covering revenue, segments, debt, income taxes, and contingencies - **Note 2 (Accounting Policies):** Details critical estimates for warranties, contingencies, and income taxes, outlining policies for inventory valuation, goodwill impairment testing, and revenue recognition[241](index=241&type=chunk)[243](index=243&type=chunk) - **Note 3 (Revenue):** Revenue is disaggregated by reportable segment and geographic location; in 2023, North America accounted for **$495.5 million** in sales, and Europe and Other for **$423.1 million**[304](index=304&type=chunk) - **Note 5 (Debt):** As of December 31, 2023, the company had **$189.3 million** outstanding on its revolving credit facility, which matures in November 2026[312](index=312&type=chunk)[314](index=314&type=chunk) - **Note 13 (Segment Reporting):** Provides a financial summary by segment; in 2023, the Electronics segment generated **$27.3 million** in operating income, while the Control Devices segment generated **$13.6 million**[391](index=391&type=chunk) [Controls and Procedures](index=72&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management and independent auditors concluded that Stoneridge's disclosure controls and internal control over financial reporting were effective as of December 31, 2023 - Management, including the PEO and PFO, concluded that the Company's disclosure controls and procedures were effective as of **December 31, 2023**[397](index=397&type=chunk) - Management concluded that the company's internal control over financial reporting was effective as of **December 31, 2023**, based on the **COSO 2013 framework**[398](index=398&type=chunk) - Ernst & Young LLP, the independent registered public accounting firm, issued an unqualified attestation report on the Company's internal control over financial reporting as of **December 31, 2023**[400](index=400&type=chunk)[403](index=403&type=chunk) Part III [Directors, Executive Compensation, and Corporate Governance](index=74&type=section&id=Item%2010%2C%2011%2C%2012%2C%2013%2C%2014) Information on directors, executive compensation, security ownership, and corporate governance is incorporated by reference from the May 14, 2024 Proxy Statement - Information regarding directors, executive officers, corporate governance, executive compensation, security ownership, and principal accounting fees is incorporated by reference from the company's Proxy Statement for the **May 14, 2024 Annual Meeting of Shareholders**[412](index=412&type=chunk)[414](index=414&type=chunk)[415](index=415&type=chunk) - The company has adopted a code of ethics for senior financial officers, which is available on its website[413](index=413&type=chunk) Part IV [Exhibits, Financial Statement Schedule](index=75&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedule) This section lists all documents filed as part of the Form 10-K, including financial statements, schedules, and various corporate and legal exhibits - This section lists the financial statements, financial statement schedules, and exhibits filed with the Form 10-K[421](index=421&type=chunk) - Key exhibits include the **Fifth Amended and Restated Credit Agreement**, various long-term incentive and compensation plans, and employment agreements with key executives[423](index=423&type=chunk)[424](index=424&type=chunk) - Certifications from the Chief Executive Officer and Chief Financial Officer as required by **Sections 302 and 906 of the Sarbanes-Oxley Act** are included as exhibits[424](index=424&type=chunk)

Stoneridge, Inc. (NYSE:SRI) Q4 2023 Earnings Conference Call February 29, 2024 9:00 AM ET Company Participants Kelly Harvey - Director-Investor Relations Jim Zizelman - President & Chief Executive Officer Matt Horvath - Chief Financial Officer Conference Call Participants Justin Long - Stephens Gary Prestopino - Barrington Research Operator Good day, and thank you for standing by. Welcome to the Stoneridge Fourth Quarter 2023 Conference Call. At this time, all participants are in a listen-only mode. After t ...

Financial Performance & Guidance - 2023 adjusted sales were $961.2 million, a 14.2% increase year-over-year[137, 138] - The company is targeting a long-term revenue of $1.35 billion to $1.55 billion by 2028[10] - 2024 revenue guidance is $990 million to $1.01 billion, representing approximately 4% growth[4, 12, 155] - 2024 EBITDA guidance is $64 million to $70 million, with a midpoint of $67 million, reflecting a 170 bps margin expansion[4, 12, 155] - The company targets an EBITDA margin of 12% to 14% by 2028[10, 141] Segment Performance & Outlook - Electronics segment sales grew by 24.9% in 2023, driven by new program launches like MirrorEye and Smart 2 Tachograph[23] - Control Devices sales remained relatively in line with 2022, impacted by the UAW strike[22] - Stoneridge Brazil sales grew by 9.5% in 2023 due to higher local OEM sales[150] Strategic Initiatives & Targets - The company is focused on drivetrain agnostic technologies and products aligned with industry megatrends to drive growth[10, 20] - MirrorEye sales are expected to be approximately $100 million in 2024, compared to $54 million in 2023[158] - The company aims to reduce net debt and improve working capital, targeting a compliance leverage ratio of 20x to 25x by the end of 2024[25]

Exhibit 99.1 FOR IMMEDIATE RELEASE Stoneridge Reports Fourth Quarter 2023 Results Achieves Q4 Sequential EPS Improvement In Line with Prior Expectations Establishes 2024 Midpoint Revenue Guidance of $1 Billion And Midpoint EBITDA of $67 Million (Midpoint EBITDA Margin Expansion Of 170 Basis Points vs. 2023) Maintains 2027 Long-Term Target and Establishes 2028 Revenue Target of $1.35 - $1.55 Billion and EBITDA Margin Target of 12.0% - 14.0% 2023 Fourth Quarter Results 2024 Full-Year Guidance NOVI, Mich. – Fe ...

Stoneridge, Inc. (NYSE:SRI) Q3 2023 Earnings Conference Call November 2, 2023 9:00 AM ET Company Participants Kelly Harvey - Director of Investor Relations Jim Zizelman - President and Chief Executive Officer Matthew Horvath - Chief Financial Officer Conference Call Participants Justin Long - Stephens Operator Good day, and thank you for standing by. Welcome to the conference call of Stoneridge. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a quest ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended September 30, 2023 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-13337 STONERIDGE, INC (Exact name of registrant as specified in its charter) Ohio 34-1598949 (State or other jurisdiction of incorporation or organization) (I. ...