NYSE$SRI
Stoneridge Inc · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Reported strong fourth-quarter and full-year results, with revenue guidance provided for 2021.
Stoneridge reported Q4 2020 sales of $189.7 million and EPS of $0.13. The company is guiding for 2021 revenue of $770 - $790 million and a revenue CAGR of 10%+ from 2021-2025.
- Delivered strong financial performance in 2020 by adapting cost structure and managing cash position.
- Captured strong incremental margins in the second half of the year through material cost reduction and efficient ramp-up of production facilities.
- Continued transformation by rationalizing product portfolio and optimizing manufacturing footprint.
- MirrorEye continued to progress with expanded retrofit programs and preparation for OEM program launches in 2021.
Headline financials
Revenue & EPS history
Stoneridge · Revenue · Quarterly
$190M
Q4 2020-0.4%vs Q4 2019
Revenue by segment
Stoneridge · $198M total across 3 segments · Q4 2020
- Control Devices$100M—50.8%
- Electronics$84.1M—42.5%
- Stoneridge Brazil$13.3M—6.7%
Forward guidance
The Company announced 2021 sales guidance of $770.0 - $790.0 million.
Tailwinds
- Expecting increased 2021 revenue relative to 2020, with midpoint revenue guidance of $780 million driven primarily by several significant program launches during the year and increased end market production forecasts.
- Midpoint revenue guidance implies approximately 20% growth relative to 2020 which implies growth over market of approximately 5%.
- Expect that the impact of new program launches will drive significant growth.
- Updated our long-term targeted revenue to reflect a compound annual growth rate of at least 10% through 2025, resulting in targeted 2023 revenue of at least $925 million and 2025 revenue of over $1.1 billion.
- Expect that approximately 85% of our 2025 targeted revenue will be drivetrain agnostic.
Headwinds
- 2021 guidance also includes certain assumptions regarding the potential adverse impact of global supply chain disruptions.
- Included an expected adverse margin impact in our guidance due to increased material and logistics costs, which are expected to primarily impact the first half of the year.
- Expect external factors, including adverse foreign currency exchange rates, material costs related to global supply chain disruptions and a slight increase to our tax rate, to reduce adjusted EPS by approximately $0.16 in 2021.
- Announced guidance for 2021 adjusted gross margin of 25.75% - 26.75%, adjusted operating margin of 3.5% - 4.25% and adjusted EBITDA margin of 8.0% - 8.75% which includes assumptions regarding the impact of the potential global supply chain disruptions.
- Announced adjusted earnings per share guidance of $0.60 - $0.75 and an effective tax rate of 22.5% - 27.5%.
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 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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