NYSE$SRI
Stoneridge Inc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Stoneridge's Q3 2020 results showed strong execution, with EPS of $0.25 and adjusted EPS of $0.18, driven by top-line growth exceeding expectations due to strong recovery across global end markets.
Stoneridge reported strong Q3 2020 results with sales of $175.8 million and EPS of $0.25. The company experienced top-line growth exceeding expectations due to strong recovery across global end markets, resulting in improved gross and operating margins.
- Experienced top-line growth that exceeded expectations due to strong recovery across global end markets.
- Improved gross and operating margins, resulting in an adjusted contribution margin of 35.8% relative to the second quarter.
- Took several steps forward in the continued commercialization of MirrorEye®, including a pre-wire option with Daimler Trucks North America.
- Expect continued ramp-up of MirrorEye® retrofit orders and pursuing pre-wire relationships with other OEMs.
Headline financials
Revenue & EPS history
Stoneridge · Revenue · Quarterly
$176M
Revenue by segment
Stoneridge · $184M total across 3 segments · Q3 2020
- Control Devices$101M—54.8%
- Electronics$70.4M—38.2%
- Stoneridge Brazil$12.8M—7.0%
Forward guidance
The company expects fourth quarter revenue to decline slightly relative to the third quarter, with adjusted earnings per share to a range of ($0.05) to $0.05. For 2021, the company expects revenue to exceed $715 million, an increase of at least 20% adjusted for the discontinued soot sensor business.
Tailwinds
- Continued recovery with production forecasts implying 13.5% growth in weighted-average end markets.
- New program launches are expected to create significant growth opportunities for the Company in 2021 and beyond.
- Production forecast tailwinds based on current market conditions.
- Continued ramp-up of MirrorEye® retrofit programs.
- Launch of several new programs in 2021.
Headwinds
- Expect fourth quarter revenue to decline slightly relative to the third quarter based on the continued stabilization of global production, offset by historical seasonality in Control Devices.
- Anticipate incremental expenses due to the reinstatement of certain wage and benefit programs and the normalization of other operating expenses.
- Expect incremental D&D expenses to continue to support launches of large programs in 2021.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2020
-0.3%
Avg return
Earnings day
-1.7%
Avg return
5 days after
-0.6%
Avg return
30 days after
56%
37 / 66 earnings
Positive
+20.7%
Q4 2024
Best reaction
-26.0%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -6.6% | -3.9% | — | |
| Q4 2025 | -22.8% | -26.5% | -26.1% | |
| Q3 2025 | -3.8% | -4.5% | -19.1% | |
| Q2 2025 | +9.2% | +2.4% | +9.5% | |
| Q1 2025 | +7.5% | +13.7% | +30.1% | |
| Q4 2024 | +20.7% | +27.4% | +10.2% | |
| Q3 2024 | -26.0% | -26.0% | -27.4% | |
| Q2 2024 | +7.9% | -7.4% | -13.4% | |
| Q1 2024 | -1.2% | +6.1% | +5.9% | |
| Q4 2023 | -5.6% | -10.7% | -0.9% | |
| Q3 2023 | +2.0% | +0.7% | +3.0% | |
| Q2 2023 | +12.8% | +17.5% | +1.1% | |
| Q1 2023 | -11.4% | -13.6% | -7.8% | |
| Q4 2022 | -11.5% | -15.7% | -21.5% | |
| Q3 2022 | +9.4% | +18.7% | +16.5% | |
| Q2 2022 | -2.0% | +1.1% | -1.1% | |
| Q1 2022 | +1.4% | -11.7% | +14.8% | |
| Q4 2021 | +9.3% | +11.2% | +19.0% | |
| Q3 2021 | -7.2% | -6.6% | +2.9% | |
| Q2 2021 | -11.2% | -7.8% | -17.2% | |
| Q1 2021 | +2.9% | -1.7% | -9.2% | |
| Q4 2020 | +8.2% | +10.8% | +11.8% | |
| Q3 2020 | +6.5% | +1.1% | +20.4% | |
| Q2 2020 | -3.3% | -3.5% | -3.5% | |
| Q1 2020 | -5.4% | -5.9% | +23.8% | |
| Q4 2019 | -16.9% | -22.2% | -42.1% | |
| Q3 2019 | -7.7% | -9.5% | -9.9% | |
| Q2 2019 | -7.5% | -7.2% | -8.1% | |
| Q1 2019 | -2.3% | -2.4% | -17.2% | |
| Q4 2018 | +5.3% | +7.0% | +2.8% | |
| Q3 2018 | +10.4% | +12.2% | +20.5% | |
| Q2 2018 | +2.4% | -7.7% | -12.0% | |
| Q1 2018 | +2.7% | +5.7% | +21.3% | |
| Q4 2017 | +2.1% | +5.5% | +23.4% | |
| Q3 2017 | -5.1% | -2.7% | -3.8% | |
| Q2 2017 | +11.0% | +11.1% | +9.6% | |
| Q1 2017 | -8.0% | -9.7% | -20.9% | |
| Q4 2016 | +5.3% | +4.2% | +0.5% | |
| Q3 2016 | -20.2% | -20.1% | -12.2% | |
| Q2 2016 | -0.3% | +1.0% | +1.7% | |
| Q1 2016 | +5.4% | — | — | |
| Q4 2015 | +11.0% | — | — | |
| Q3 2015 | +2.3% | — | — | |
| Q2 2015 | +17.2% | — | — | |
| Q1 2015 | -0.8% | — | — | |
| Q4 2014 | +2.5% | — | — | |
| Q3 2014 | +0.7% | — | — | |
| Q2 2014 | -5.2% | — | — | |
| Q1 2014 | -6.2% | — | — | |
| Q4 2013 | +4.2% | — | — | |
| Q3 2013 | -2.7% | — | — | |
| Q2 2013 | +9.0% | — | — | |
| Q1 2013 | +15.1% | — | — | |
| Q4 2012 | +0.6% | — | — | |
| Q3 2012 | +0.2% | — | — | |
| Q4 2011 | +7.9% | — | — | |
| Q2 2012 | +7.9% | — | — | |
| Q1 2011 | -5.7% | — | — | |
| Q1 2012 | +2.2% | — | — | |
| Q4 2009 | +5.2% | — | — | |
| Q3 2010 | +2.8% | — | — | |
| Q3 2011 | +2.8% | — | — | |
| Q2 2011 | -22.1% | — | — | |
| Q2 2010 | -22.1% | — | — | |
| Q4 2010 | -22.1% | — | — | |
| Q1 2010 | +20.3% | — | — |
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