NYSE$SRI
Stoneridge Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Stoneridge reported strong third-quarter results driven by continued margin expansion and strong operating performance.
Stoneridge reported sales of $238.2 million and earnings per share of $0.08 for the third quarter of 2023. Adjusted sales were $237.2 million and adjusted EPS was $0.10. The company's performance was driven by continued material cost improvement and operating cost control.
- Sales of $238.2 million were reported.
- Earnings per share (EPS) reached $0.08.
- Adjusted earnings per share was $0.10.
- The Smart 2 Tachograph program is expected to generate approximately $20 million in revenue in 2023 and more than $60 million in revenue in 2024.
Headline financials
Revenue & EPS history
Stoneridge · Revenue · Quarterly
$238M
Revenue by segment
Stoneridge · $247M total across 3 segments · Q3 2023
- Electronics$142M+21.5%57.7%
- Control Devices$90.1M+0.8%36.5%
- Stoneridge Brazil$14.2M+2.9%5.8%
Forward guidance
The company is providing preliminary 2024 guidance for at least 5% revenue growth, which outpaces weighted-average end-markets by at least 6.5%.
Tailwinds
- Continued strong growth next year.
- Growth will be driven by the continued ramp-up and expansion of our current North American and European MirrorEye programs.
- Launch of our next and largest MirrorEye program in Europe
- Significant continued ramp-up of our Smart 2 tachograph program in Europe.
- Stoneridge remains well positioned to continue to outperform our underlying markets and drive margin expansion resulting in long-term shareholder value creation.
Headwinds
- Some top-line headwinds related to the UAW strike in the fourth quarter.
- Expecting continued EPS expansion in the fourth quarter.
- Refining full-year 2023 guidance to reflect expectation of continued strong margin performance.
- Offset by expected revenue headwinds in the fourth quarter including the expected impact of the UAW strike.
- Updated midpoint adjusted EPS guidance has been adjusted by $0.05 to reflect approximately $0.05 of UAW-strike related headwinds.
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 2023
-0.3%
Avg return
Earnings day
-1.7%
Avg return
5 days after
-0.4%
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% | +6.7% | |
| 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 2010 | -22.1% | — | — | |
| Q2 2011 | -22.1% | — | — | |
| Q4 2010 | -22.1% | — | — | |
| Q1 2010 | +20.3% | — | — |
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