secwatch.observer — SEC 8-K summary
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Issuer:     STONERIDGE INC (SRI)
CIK:        0001043337
Form:       8-K
Filed at:   2022-08-03T23:59:59+00:00
Accession:  0001104659-22-085693
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stoneridge Q2 adj sales $205.7M, adj EPS ($0.29); cuts FY 2022 revenue/adj EPS guidance
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- Q2 adjusted sales $205.7M; adjusted operating loss ($6.5M) (-3.2% of sales); adjusted EBITDA $2.3M.
- Adjusted EPS ($0.29); GAAP EPS ($0.27); FX headwind reduced adjusted EPS by $0.06 vs expectations.
- Lowers FY 2022 revenue midpoint to $865M from $880M; adj EPS midpoint to ($0.20) from ($0.03).
- MirrorEye take rate averaged ~35% in Q2; partner expects >50% heading into 2023, potential revenue upside.
- Credit facility amendment waives leverage covenant through Q1 2023; Q4 2022 covenant set at max 4.75x leverage.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1043337/000110465922085693/0001104659-22-085693-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1043337/000110465922085693/tm2222506d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-085693

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