Stoneridge Q3 2023 sales $238.2M, adj. EPS $0.10; guides FY23 adj. EPS loss, prelim 2024 growth ≥5%

STONERIDGE INC

2023-Q3 EPS reported -$0.30 revenue$746,303,000

Q3 adjusted sales $237.2M; GAAP EPS $0.08, adjusted EPS $0.10; adjusted EBITDA $17.0M (7.2% margin).
Full-year 2023 guidance refined: adj. sales $965-975M, adj. EPS $(0.10)-$0.00; midpoint down $0.05 due to UAW strike impact.
Preliminary 2024 revenue guidance: at least 5% growth, outpacing weighted-average end-markets by ≥6.5%.
Gross margin improved to 22.1% (adj.), operating margin 3.1% (adj.), reflecting strong operating performance.

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 0.9

STONERIDGE INC reported the third quarter ended September 30, 2023 results: revenue $238.2 million, EPS $0.08.

Period: the third quarter ended September 30, 2023
Revenue: $238.2 million
EPS: $0.08
Result: reported results

Exact text from the filing

PERFORMANCE 2024 PRELIMINARY OUTLOOK EXPECTS SALES GROWTH OF AT LEAST 5%, SIGNIFICANTLY OUTPERFORMING WEIGHTED AVERAGE END-MARKETS 2023 Third-Quarter Results • Sales of $238.2 million • Adjusted sales of $237.2 million • Gross profit of $52.5 million (22.1% of adjusted sales) • Operating income of $6.5 million • Adjusted operating income of $7.3 million (3.1%

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Source: SEC EDGAR

accession 0001043337-23-000058

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