secwatch.observer — SEC 8-K summary
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Issuer:     STONERIDGE INC (SRI)
CIK:        0001043337
Form:       8-K
Filed at:   2024-07-31T23:59:59+00:00
Accession:  0001043337-24-000105
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1043337/000104333724000105/0001043337-24-000105-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1043337/000104333724000105/sri-20240731.htm
  HTML page:      https://secwatch.observer/filing/0001043337-24-000105

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