MirrorEye Becomes Standard Equipment on Several European Truck Platforms MirrorEye OEM Programs to Launch with Daimler Truck North America and a European Brand Year-to-Date Cash Performance Improved $31.3 million vs. Same Period in 2023 2024 Third Quarter Results Sales of $213.8 million Gross profit of $44.5 million Adjusted gross profit of $44.6 million (20.9% of sales) Operating income of $0.3 million Adjusted operating income of $0.7 million (0.3% of sales) Adjusted EBITDA of $9.2 million (4.3% of sales) ...

NOVI, Mich., Oct. 28, 2024 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) today announced the availability of its next MirrorEye® Camera Monitor System program on Daimler Truck North America's (DTNA) new fifth generation Freightliner Cascadia, which begins series production in mid-2025. The MirrorCam System, DTNA's branded camera monitor system is built on Stoneridge's industry-leading MirrorEye technology and is designed to enhance driver awareness by augmenting traditional mirrors with external cameras and ...

NOVI, Mich., Oct. 22, 2024 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) today announced that DB Schenker, a global leader in supply chain management and logistics, is piloting its MirrorEye® Camera Monitor System (CMS) on its North American fleet. The initial pilot program is underway and includes 75 trucks. Assuming a successful pilot program, DB Schenker intends to expand the implementation of MirrorEye across its entire North American fleet. DB Schenker is piloting Stoneridge’s MirrorEye® Camera Monitor ...

NOVI, Mich., Oct. 17, 2024 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) will webcast its third quarter 2024 earnings conference call live on Thursday, October 31, 2024, at 9:00 a.m. ET with president and chief executive officer, Jim Zizelman, and chief financial officer, Matt Horvath. The webcast can be accessed on the Presentations & Events page of the Investors section of the Company's website, www.stoneridge.com. Stoneridge, Inc., headquartered in Novi, Michigan, is a global designer and manufacturer of ...

NOVI, Mich., Sept. 4, 2024 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) today announced that Jim Zizelman, president and chief executive officer, and Matt Horvath, chief financial officer, will participate in the CL King's 22nd Annual Best Ideas Conference with a fireside chat at 2:45 p.m. ET on Monday, September 16, 2024. Details on how to join the presentation via webcast will be posted to the "Presentations & Events" section of the Company's website (www.stoneridge.com) prior to the presentation. About S ...

TORONTO, Aug. 21, 2024 /PRNewswire/ - Manulife Investment Management (Manulife IM), the world's largest manager of natural capital with over $16 billion in assets under management in timberland and agriculture1, has recently released three reports detailing how it incorporates financially material climate- and nature-related investment considerations into its asset management and portfolio construction capabilities. Interested market participants can use the insights from Manulife IM's Natural Capital Susta ...

Financial Performance - Q2 2024 sales were $237.1 million[6] - Q2 2024 gross profit was $53.7 million, with a margin of 22.7%[6] - Q2 2024 operating income was $3.4 million, with a margin of 1.4%, while adjusted operating income was $5.4 million, with a margin of 2.3%[6] - Q2 2024 adjusted EPS was $0.17, a $0.39 improvement compared to Q1 2024[8] - Q2 2024 adjusted EBITDA was $16.1 million, with a margin of 6.8%, a ~410 bps improvement compared to Q1 2024[6, 8] Segment Performance - Control Devices sales increased by 3.7% from Q1 2024 to Q2 2024, reaching $80.9 million[20] - Control Devices operating margin increased by 180 bps from Q1 2024 to Q2 2024[20] - Electronics Q2 sales were approximately in-line with Q1 2024, excluding a ~$2.2 million unfavorable impact from foreign currency[21] - Electronics adjusted operating margin increased by ~310 bps from Q1 2024 to Q2 2024[21] - Stoneridge Brazil sales slightly improved compared to Q1 2024, excluding an unfavorable FX impact of ~$0.6 million[22] Guidance and Priorities - Full-year 2024 revenue guidance was updated to $940.0 million - $970.0 million, a reduction of $45.0 million at the midpoint[26, 27] - Full-year gross margin guidance was increased by 50 bps to 22.75% - 23.0%[26, 27] - Full-year adjusted EBITDA margin guidance is 6.2% - 6.6%[26] - Inventory was reduced by $9.0 million in the first half of 2024[18, 28]

Q2 Operating Performance Significantly Outperforms Previously Provided Expectations Driven by Strong Margin Expansion 2024 Second Quarter Results Sales of $237.1 million Gross profit of $53.7 million (22.7% of sales) Operating income of $3.4 million Adjusted operating income of $5.4 million (2.3% of sales) Adjusted EBITDA of $16.1 million (6.8% of sales) Earnings per share ("EPS") of $0.10 Adjusted EPS of $0.17 2024 Full-Year Guidance Update Reducing full-year 2024 revenue midpoint guidance by $45 million t ...

Details for joining the presentation via live webcast can be found at https://www.stoneridge.com/presentationsevents prior to the event. SOURCE Stoneridge, Inc. NOVI, Mich., July 30, 2024 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) today announced that Jim Zizelman, president and chief executive officer, and Matt Horvath, chief financial officer, will participate in the J.P. Morgan Auto Conference in New York City, with a presentation scheduled for 9:35 a.m. ET on Wednesday, August 7, 2024. About Stoneridg ...

Company Overview - Stoneridge, Inc. is headquartered in Novi, Michigan and is a global designer and manufacturer of highly engineered electrical and electronic systems, components, and modules for various vehicle markets including automotive, commercial, off-highway, and agricultural vehicles [2]. Upcoming Events - Stoneridge, Inc. will host a live webcast of its second quarter 2024 earnings conference call on August 1, 2024, at 9:00 a.m. ET, featuring president and CEO Jim Zizelman and CFO Matt Horvath [1]. - The webcast will be accessible on the Presentations & Events page of the Investors section of the company's website [1].