Stoneridge(US:SRI)2022-05-06 17:27Financial Performance - Adjusted sales for Q1 2022 were $196.6 million, a 7.5% increase compared to Q4 2021[12, 23] - Adjusted gross profit for Q1 2022 was $41.4 million, with a margin of 21.1%, a decrease from Q4 2021's 22.8%[12] - The company offset approximately 90% of incremental material costs in Q1 2022 relative to Q4 2021 through pricing and supply chain actions[12, 13] - Adjusted operating loss for Q1 2022 was $(3.0) million, or (1.5%) operating margin, an increase of 260 bps over Q4 2021[12, 23] - Adjusted EBITDA for Q1 2022 was $4.3 million, representing a 2.2% margin[10, 12] Guidance and Outlook - The company maintains full-year 2022 revenue guidance of $860 million to $900 million[10, 17, 24] - The company maintains adjusted EPS guidance of ($0.15) to $0.10[10, 17, 24] - The company is increasing 2022 adjusted gross, operating, and EBITDA margin guidance by 25 basis points[10, 17, 24, 59] - The company expects incremental tax expense of approximately $2.0 million due to the forecasted geographical mix of earnings[10, 24, 55] MirrorEye - The first OEM MirrorEye program in Europe has an estimated take rate of at least 35% based on year-to-date performance[16] - Maverick is expected to reach a total of 1,000 MirrorEye installations by the end of 2022[16]