Stoneridge Q3 adjusted sales $214M (+4% sequential); full-year guidance lowered

STONERIDGE INC

2022-Q3 EPS reported -$0.52 revenue$668,751,000

Q3 adjusted sales $214.0M (+4% sequentially); adjusted EPS $0.03 (+$0.32 sequentially).
Gross margin on adjusted sales 23.1% (440 bps sequential improvement).
Q4 guidance: adjusted revenue $234-244M, adjusted EPS $0.21-0.27.
Full-year 2022 adjusted revenue guidance lowered to $850-860M (midpoint $855M); adjusted EPS ($0.32)-($0.26).
Adjusted operating margin guidance reduced to 0.75%-1.0% due to re-timing of ~$2.4M engineering recoveries.

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 0.95

STONERIDGE INC reported third quarter ended September 30, 2022 results: revenue $226.8 million, net income earnings per share of $0.03, EPS $0.03. Guidance raised.

Period: third quarter ended September 30, 2022
Revenue: $226.8 million
Net income: earnings per share of $0.03
EPS: $0.03
Guidance: raised
Result: reported results

Exact text from the filing

Stoneridge, Inc. (NYSE: SRI) today announced financial results for the third quarter ended September 30, 2022, with sales of $226.8 million and earnings per share of $0.03.

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Source: SEC EDGAR

accession 0001104659-22-114013

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