NYSE$SRI
Stoneridge Inc · Q4 2019 earnings
Q4 2019 earnings · · Investor relations
Briefing
Stoneridge reported full-year results, announced additional OEM MirrorEye awards, and authorized additional share repurchase.
Stoneridge announced full-year 2019 results, with sales of $834.3 million and EPS of $2.13. Adjusted sales were $830.1 million and adjusted EPS was $1.47. The company also announced two additional OEM MirrorEye awards with $50 million peak annual revenue and an additional $50 million share repurchase authorization.
- Experienced a challenging fourth quarter primarily due to non-recurring events.
- Accelerated transformation by rationalizing product portfolio and optimizing manufacturing footprint.
- Invested in significant new programs to drive long-term profitable growth.
- Awarded three additional MirrorEye OEM programs, including the largest single program in Company history.
Headline financials
Revenue & EPS history
Stoneridge · Revenue · Quarterly
$190M
Revenue by segment
Stoneridge · $161M total across 2 segments · Q1 2026
- Electronics$145M—90.1%
- Stoneridge Brazil$16M—9.9%
Forward guidance
The Company announced 2020 sales guidance of $750.0 - $770.0 million.
Tailwinds
- Expecting reduced 2020 revenue relative to 2019 excluding the impact of divested product lines, with midpoint revenue guidance of $760.0 million driven primarily by reduced end market production forecasts and the continued ramp-down of our legacy shift-by-wire programs.
- Included a modest amount of MirrorEye retrofit revenue in guidance and will continue to evaluate assumptions as the year progresses.
- 2020 revenue guidance considers the fact that divested product lines contributed approximately $37.4 million to sales in 2019.
- Expect that the impact of new program launches will drive significant growth in 2021 and have updated our 2021 targeted revenue to reflect a growth rate of approximately 12% relative to 2020 guidance.
- Expecting $8 to $12 million of incremental operational improvements
Headwinds
- Expecting reduced 2020 revenue relative to 2019 excluding the impact of divested product lines, with midpoint revenue guidance of $760.0 million driven primarily by reduced end market production forecasts and the continued ramp-down of our legacy shift-by-wire programs.
- Expecting on-going investment in resources to support multiple future program launches and continued new product development.
- Anticipate effective tax rate in 2020 to be 20% to 25% compared to 8.4% in 2019 which reduces EPS by approximately $0.23 based on the midpoint of our guided tax rate.
- Experienced a challenging fourth quarter primarily as a result of non-recurring events, such as the General Motors strike and incremental facility closure costs, as well as inefficiencies in one of our plants.
- Headwinds in commercial vehicle end-markets will temper revenue growth in 2020 before the ramp-up of several large programs at the end of the year and into 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 Q4 2019
-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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