secwatch.observer — SEC 8-K summary
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Issuer:     STONERIDGE INC (SRI)
CIK:        0001043337
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0001043337-23-000050
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1043337/000104333723000050/0001043337-23-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1043337/000104333723000050/sri-20230802.htm
  HTML page:      https://secwatch.observer/filing/0001043337-23-000050

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer