Stoneridge Q1 2023: sales $241.3M, adj. EPS -$0.25; reaffirms FY guidance

STONERIDGE INC

2023-Q1 EPS reported -$0.27 revenue$241,325,000

Sales $241.3M (adj. $232.2M); GAAP EPS -$0.27, adjusted EPS -$0.25.
Adj. operating loss $(3.4)M (adj. margin -1.5%); adj. EBITDA $3.6M (1.5% of adj. sales).
Reaffirms FY2023 adj. sales $960-$990M, adj. EPS $(0.10)-$0.10, adj. EBITDA margin 5.3%-5.9%.
Results benefited from $9.1M customer recoveries for electronic component spot buys.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

STONERIDGE INC reported the first quarter ended March 31, 2023 results: revenue $241.3 million, EPS $(0.27). Guidance reaffirmed.

Period: the first quarter ended March 31, 2023
Revenue: $241.3 million
EPS: $(0.27)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Quarter 2023 Results FIRST QUARTER REVENUE AND EARNINGS OUTPERFORM PREVIOUSLY PROVIDED EXPECTATIONS REAFFIRMING 2023 FULL-YEAR GUIDANCE 2023 First Quarter Results • Sales of $241.3 million • Adjusted sales of $232.2 million • Gross profit of $42.8 million • Adjusted gross profit of $43.0 million (18.5% of adjusted sales) • Operating loss of $(4.0) million •

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Source: SEC EDGAR

accession 0001043337-23-000036

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