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Overview
Stoneridge Inc (SRI) is an independent designer and manufacturer of highly engineered electrical and electronic components, modules, and systems. Specializing in advanced automotive electronics and control devices, the company serves multiple markets including automotive, commercial trucks, off-highway, agricultural, and specialty vehicle sectors. Emphasizing precision engineering and innovative technology, Stoneridge integrates cutting-edge solutions that enhance vehicle intelligence, safety, and operational efficiency.
Product Segments and Core Business Areas
Stoneridge operates primarily in two distinct segments:
- Electronics: This segment focuses on vehicle electrical power and distribution systems, electronic instrumentation, and information display products. It includes technologies such as driver information systems, camera-based vision solutions, connectivity products, and electronic control units that help optimize vehicle performance and safety.
- Control Devices: This segment comprises electronic and electrical switch products, control actuation devices, and sensors. These components are critical for precise vehicle control, ensuring seamless operation in diverse vehicular applications.
Technological Innovation and Engineering Excellence
Stoneridge has built a reputation for integrating advanced engineering concepts with practical, real-world applications. The company\s flagship MirrorEye Camera Monitor System exemplifies its commitment to innovation; it replaces traditional mirrors with integrated camera and monitor technology, enabling improved vehicle visibility in all weather and lighting conditions. This innovative approach not only enhances driver situational awareness but also supports enhanced operational efficiency for fleet operations.
Market Position and Competitive Landscape
Positioned in a highly competitive global market, Stoneridge distinguishes itself through its strong engineering expertise and commitment to quality. The company leverages its deep technical know-how to address critical challenges in automotive safety and vehicle management while maintaining a focus on material cost reductions and manufacturing efficiency. Its comprehensive product portfolio and strategic OEM partnerships allow Stoneridge to address evolving market demands and compliance requirements. In doing so, the company not only serves traditional automotive markets but also expands into commercial, agricultural, and off-highway segments.
Global Operations and Customer Focus
Headquartered in Michigan, Stoneridge operates with a global perspective, focusing significant business operations in North America and expanding its influence in key international markets. Its products are widely adopted by original equipment manufacturers (OEMs) and fleet operators worldwide, and the company continuously refines its product offerings to align with emerging technological trends. By working closely with its customers and dealer networks, Stoneridge ensures that its systems deliver sustainable improvements in vehicle performance and safety.
Commitment to Quality and Operational Efficiency
Operational excellence is at the heart of Stoneridge\s business model. The company continuously enhances its manufacturing processes, implements cost control measures, and invests in quality improvements to mitigate historical challenges. These strategic initiatives are designed to optimize its engineering and production capabilities, ensuring that products meet stringent quality standards and offer long-term reliability. The systematic approach to quality and efficiency underscores the company\s commitment to delivering dependable solutions to a diverse range of industries.
Industry Impact and Future Insights
Through its relentless focus on research and development, Stoneridge remains at the forefront of industry trends in automotive electronics and control systems. The company effectively leverages data, software, and artificial intelligence to drive further innovation in vehicle safety systems. While Stoneridge provides detailed insights into its operational practices and product integrations, it maintains an unbiased, factual presentation designed to inform investors and industry analysts. The transparent and comprehensive approach adopted by the company reinforces its reputation as a trusted provider in the highly specialized field of vehicle electronics and control devices.
Stoneridge (NYSE: SRI), a global supplier of electronic systems and technologies for vehicles, has announced it will host its first quarter 2025 earnings conference call on Thursday, May 1, 2025, at 9:00 a.m. ET. The webcast will feature presentations from president and CEO Jim Zizelman and CFO Matt Horvath.
The Michigan-based company, which specializes in developing safe and efficient electronic systems for on- and off-highway transportation sectors, will make the webcast accessible through the Presentations & Events page in the Investors section of their website.
Stoneridge (NYSE: SRI) announced changes to its Board of Directors, with two longstanding board members, George S. Mayes, Jr. and Paul J. Schlather, retiring for personal reasons. They will not seek reelection as part of the Company's 2025 Slate of Directors.
The Board has decided to reduce its membership from nine to seven by not filling these vacancies. Mayes, who joined in 2012, served as Chairman of the Compliance and Ethics Committee, while Schlather, a board member since 2009, contributed expertise in financial oversight and corporate governance.
William M. Lasky, Chairman of the Board, expressed gratitude for their dedicated service and contributions to Stoneridge, a global designer and manufacturer of electrical and electronic systems for automotive, commercial, off-highway and agricultural vehicle markets.
Stoneridge (NYSE: SRI) has announced a three-year agreement with Direct Energy, an NRG Energy brand, to power its Lexington, Ohio manufacturing facility with 100% renewable energy through renewable energy certificates (RECs). The initiative will generate over 13,000 megawatt hours (MWh) of carbon-free electricity annually, equivalent to eliminating 13.5 million pounds of CO₂ emissions per year.
The RECs will be sourced from a wind facility, demonstrating Stoneridge's commitment to environmental responsibility and operational efficiency. The company's global sustainability efforts extend to other facilities in Manaus, Brazil; Tallinn, Estonia; and Örebro, Sweden, which already utilize green or low-carbon energy sources.
Stoneridge (NYSE: SRI) reported Q4 2024 financial results with sales of $218.2 million and a net loss of $(6.1) million. Full-year 2024 sales reached $908.3 million with a net loss of $(16.5) million.
Key highlights include a $43 million improvement in operating cash flow year-over-year, driven by a $36 million reduction in inventory. The company's MirrorEye® technology is expected to contribute over $50 million in incremental revenue for 2025.
For 2025, Stoneridge projects revenue between $860-890 million with EBITDA guidance of $38-42 million. Looking ahead to 2026, the company targets revenue of at least $975 million and EBITDA of minimum $70 million. The company expects approximately 3.8% decline in OEM market volume versus 2024.
Stoneridge (NYSE: SRI), a global supplier of electronic systems for vehicles, announced it will host its fourth quarter 2024 earnings conference call on Thursday, February 27, 2025, at 9:00 a.m. ET. The webcast will feature presentations from president and CEO Jim Zizelman and CFO Matt Horvath.
Investors can access the webcast through the Presentations & Events page in the Investors section of Stoneridge's website. The company, headquartered in Novi, Michigan, specializes in providing safe and efficient electronic systems and technologies for on- and off-highway transportation sectors worldwide.
Stoneridge (NYSE: SRI) announced its participation in the 2024 Stephens Annual Investment Conference, featuring a fireside chat on November 19, 2024, in Nashville. The company will showcase its Innovation Truck, demonstrating advanced technologies including:
- MirrorEye® camera monitor system
- AI-powered driver assistance features
- Intelligent connected trailer system with HD cameras and sensors
- Enhanced cockpit displays with 360-degree visibility
- Multi-feature camera wings with integrated signals
The Innovation Truck represents Stoneridge's commitment to advancing vehicle safety, efficiency, and driver comfort through technological innovation. Conference participants can experience these features through ride-along demonstrations.
Stoneridge (NYSE: SRI) reported Q3 2024 financial results with sales of $213.8 million, gross profit of $44.5 million, and adjusted EBITDA of $9.2 million. The company reported a loss per share of $(0.26) and adjusted EPS of $(0.24). Notably, MirrorEye will become standard equipment on several European truck platforms and will launch with Daimler Truck North America in mid-2025. The company updated its 2024 guidance, projecting revenue of $895-905 million, adjusted EBITDA of $42-44 million, and adjusted EPS of $(0.35)-$(0.40), reflecting reduced market expectations across end markets.
Stoneridge (NYSE: SRI) announced its MirrorEye® Camera Monitor System will be available on Daimler Truck North America's new fifth generation Freightliner Cascadia, starting production in mid-2025. This marks Stoneridge's third North American OEM program with factory-installed camera monitor systems. The MirrorCam System features independent camera wings with high mounting positions, three high-resolution in-cab displays, automatic trailer position adjustment, and infrared technology with hydrophobic coatings. The system enhances driver awareness, reduces blind spots, and improves fuel efficiency through aerodynamic design.
Stoneridge, Inc. (NYSE: SRI) announced that DB Schenker is piloting its MirrorEye® Camera Monitor System (CMS) on 75 trucks in its North American fleet. MirrorEye replaces traditional mirrors with integrated cameras and monitors, enhancing safety by reducing blind spots and improving vision in challenging conditions. The system also includes digital video recording and retrieval capabilities.
DB Schenker aims to enhance driver safety and improve fuel efficiency by eliminating traditional mirrors. This aligns with their emissions reduction efforts for CO2 savings in land transportation. If the pilot is successful, DB Schenker plans to expand MirrorEye implementation across its entire North American fleet.
The collaboration supports DB Schenker's commitment to safety and sustainability in fleet operations, while showcasing Stoneridge's focus on driver and fleet-oriented technology offering improved visibility and operational efficiency.
Stoneridge (NYSE: SRI) has announced it will webcast its third quarter 2024 earnings conference call on Thursday, October 31, 2024, at 9:00 a.m. ET. The call will feature president and CEO Jim Zizelman and CFO Matt Horvath. Investors can access the webcast through the Presentations & Events page in the Investors section of the company's website, www.stoneridge.com.
Stoneridge, headquartered in Novi, Michigan, is a global designer and manufacturer of highly engineered electrical and electronic systems, components and modules for the automotive, commercial, off-highway and agricultural vehicle markets.
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