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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, Inc. (NYSE: SRI), a global designer and manufacturer of electrical and electronic systems for various vehicle markets, has announced its participation in the CL King's 22nd Annual Best Ideas Conference. Jim Zizelman, president and CEO, and Matt Horvath, CFO, will engage in a fireside chat on Monday, September 16, 2024, at 2:45 p.m. ET.
The company, headquartered in Novi, Michigan, will provide webcast details for the presentation on its website's 'Presentations & Events' section prior to the event. Stoneridge specializes in highly engineered electrical and electronic systems, components, and modules for the automotive, commercial, off-highway, and agricultural vehicle markets.
Stoneridge (NYSE: SRI) reported Q2 2024 financial results with sales of $237.1 million and EPS of $0.10. Adjusted EPS was $0.17. The company achieved significant margin expansion, with gross profit of $53.7 million (22.7% of sales), operating income of $3.4 million, and adjusted EBITDA of $16.1 million (6.8% of sales). Stoneridge updated its full-year 2024 guidance, reducing revenue expectations but increasing gross margin projections. The company now forecasts revenue of $940-$970 million, gross margin of 22.75-23.0%, adjusted operating margin of ~2.75%, and adjusted EPS of $0.18-$0.28. Stoneridge highlighted the launch of its MirrorEye OEM systems with Volvo and Peterbilt, expecting volumes to accelerate in the second half of 2024.
Stoneridge (NYSE: SRI), a global designer and manufacturer of electrical and electronic systems for various vehicle markets, has announced its participation in the 2024 J.P. Morgan Auto Conference in New York City. Jim Zizelman, president and CEO, and Matt Horvath, CFO, will present on Wednesday, August 7, 2024, at 9:35 a.m. ET.
The presentation will be available via live webcast, with details accessible on Stoneridge's website prior to the event. This conference provides an opportunity for Stoneridge to showcase its expertise in highly engineered electrical and electronic systems, components, and modules for the automotive, commercial, off-highway, and agricultural vehicle markets.
Headquartered in Novi, Michigan, Stoneridge continues to demonstrate its commitment to engaging with investors and industry professionals through participation in such prominent events.
Stoneridge, Inc. (NYSE: SRI), a global designer and manufacturer of electrical and electronic systems for various vehicle markets, has announced its upcoming second quarter 2024 earnings conference call. The call will be webcast live on Thursday, August 1, 2024, at 9:00 a.m. ET. President and CEO Jim Zizelman, along with CFO Matt Horvath, will lead the presentation.
Investors and interested parties can access the webcast through the Presentations & Events page in the Investors section of Stoneridge's website. This event provides an opportunity for stakeholders to gain insights into the company's financial performance and future outlook.
Stoneridge (NYSE: SRI) announced that its CEO Jim Zizelman and CFO Matt Horvath will present at the Deutsche Bank Global Auto Industry Conference on June 11, 2024, at 1:55 p.m. ET. The presentation will be available via webcast, with details to be posted on the company's website. Stoneridge, based in Novi, Michigan, specializes in designing and manufacturing electrical and electronic systems for various vehicle markets, including automotive, commercial, off-highway, and agricultural sectors. More information is available on their website.
Stoneridge (NYSE: SRI) has appointed Natalia Noblet as president of its Electronics Division, effective September 1, 2024. Noblet succeeds Peter Österberg and will lead financial performance, product development, business strategy, and technical vision for the company's largest and fastest-growing segment. This division focuses on advanced driver assistance products, vision systems, and connectivity and compliance solutions for commercial trucks, buses, and off-highway markets. Noblet previously served as SVP EMEA at ZF's Commercial Vehicle Solutions division and held leadership roles at WABCO. She holds a master's and doctorate degree in economics and management science from Wroclaw University of Economics and Business in Poland.
Stoneridge, Inc. reported Q1 2024 results with sales of $239.2 million, gross profit of $48.4 million, and operating income of $0.3 million. The company maintained its full-year 2024 guidance with sales of $990.0 million - $1,010.0 million, gross margin of 22.0% - 22.75%, and EPS of $0.30 - $0.40. Despite some challenges like warranty-related expenses impacting Q1 results, Stoneridge is focused on cost reduction and improving profitability through operational efficiency.
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