Stoneridge(US:SRI)2024-02-29 16:24Financial 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]