Stoneridge Q2 adj EPS $0.17, rev $237M; FY rev guidance cut to $955M midpoint, gross margin up 50bps

STONERIDGE INC

2024-Q2 EPS reported -$0.12 revenue$476,216,000

Q2 sales $237.1M, gross profit 22.7% (up 250 bps QoQ), adjusted EBITDA $16.1M (6.8% of sales, up 410 bps QoQ).
GAAP EPS $0.10, adjusted EPS $0.17; results include ~$2.3M favorable non-operating FX.
FY 2024 revenue guidance lowered to $940M-$970M (midpoint $955M) from prior ~$1B due to FX, OEM cuts, and non-OEM volatility.
Gross margin guidance raised 50 bps to 22.75%-23.0%; adjusted EBITDA guided to $58M-$64M (6.2%-6.6% margin).
Adjusted EPS outlook reduced to $0.18-$0.28 midpoint $0.23.

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