Stoneridge reports Q2 2023 sales $266.8M, adjusted EPS $(0.05); reaffirms FY guidance at high end

STONERIDGE INC

2023-Q2 EPS reported -$0.38 revenue$508,139,000

Q2 sales $266.8M, adjusted sales $262.4M; gross profit $60.5M, adjusted gross margin 23.2%.
Adjusted EBITDA $11.9M (4.5% of adjusted sales), impacted by $(2.7)M non-operating FX and equity investment loss.
GAAP diluted EPS $(0.11), adjusted EPS $(0.05); non-operating items reduced adjusted EPS by ~$(0.08).
FY 2023 guidance reaffirmed: adjusted sales $960-990M, adjusted gross margin 20.5%-21.25%, adjusted operating margin 1.5%-2.25%.
Adjusted EPS guided to $(0.10)-$0.10 (break-even midpoint) and adjusted EBITDA margin 5.3%-5.9%.

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 second quarter ended June 30, 2023 results: revenue $266.8 million, EPS $(0.11).

Period: second quarter ended June 30, 2023
Revenue: $266.8 million
EPS: $(0.11)
Result: reported results

Exact text from the filing

MARGIN EXPANSION GUIDING TO THE HIGH END OF PREVIOUSLY PROVIDED ADJUSTED SALES, ADJUSTED GROSS MARGIN AND ADJUSTED OPERATING MARGIN RANGES 2023 Second Quarter Results • Sales of $266.8 million • Adjusted sales of $262.4 million • Gross profit of $60.5 million • Adjusted gross profit of $60.9 million (23.2% of adjusted sales) • Operating income of $4.3 million •

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Source: SEC EDGAR

accession 0001043337-23-000050

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