NYSE$SRI
Stoneridge Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Stoneridge's performance reflected margin expansion driven by strong operating performance and continued revenue growth.
Stoneridge reported Q3 2022 sales of $226.8 million and EPS of $0.03. Adjusted sales were $214.0 million, a 4.0% increase over Q2, and adjusted EPS was $0.03, a $0.32 increase over Q2. The company is focused on continuous operating improvement and effective cost control, driving sequential revenue growth and margin expansion.
- New program ramp-up and expansion, supported by improved material availability, drove revenue growth and significantly improved earnings performance.
- The company continued to effectively offset incremental costs through pricing and supply chain actions, recognizing significant margin improvement.
- Each segment drove sequential revenue growth and margin expansion during the quarter.
- The company expects to continue to drive sequential revenue growth and margin expansion for the remainder of the year, despite anticipated material cost pressure and volatility in production schedules.
Headline financials
Revenue & EPS history
Stoneridge · Revenue · Quarterly
$227M
Revenue by segment
Stoneridge · $220M total across 3 segments · Q3 2022
- Electronics$117M+39.7%53.2%
- Control Devices$89.4M+5.4%40.6%
- Stoneridge Brazil$13.8M—6.3%
Forward guidance
The company reduced the midpoint of its 2022 adjusted revenue guidance by $10 million to $855 million and adjusted EPS guidance by $0.09 to a midpoint of ($0.29). Updated full-year midpoint guidance implies fourth quarter revenue of approximately $239 million and adjusted EPS of $0.24.
Tailwinds
- Expecting continued end-market growth in 2023 as current forecasts are suggesting weighted average end-markets will grow by approximately 4% next year.
- Expect to outperform underlying end-markets as continue to reduce material constraints, launch new programs and ramp-up recently launched programs.
- Remain well positioned to drive long-term profitable growth.
- Expecting continued end-market growth.
- Creating a strong runway for continued growth and earnings expansion in 2023.
Headwinds
- Reducing the midpoint of 2022 adjusted revenue guidance by $10 million to $855 million to reflect improved, but continued material constraints and current end-market demand.
- Reduction would result in reduced adjusted EPS expectations of approximately $0.07.
- Guidance also includes consideration for the re-timing of certain customer engineering recoveries of approximately $2.4 million, or approximately $0.08 adjusted EPS, which is now expected in 2023 rather than the fourth quarter of 2022.
- Reducing full-year adjusted EPS guidance by $0.09 to a midpoint of ($0.29).
- Continued material constraints.
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 2022
-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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