Welcome to our dedicated page for Stoneridge news (Ticker: SRI), a resource for investors and traders seeking the latest updates and insights on Stoneridge stock.
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) has expanded its partnership with Maverick Transportation to incorporate the MirrorEye® Camera Monitor System (CMS) into Maverick's standard equipment for new tractor purchases. This expansion aims to enhance safety through improved driver visibility and operational efficiencies, reinforcing Maverick's commitment to safety. The MirrorEye system, the first of its kind to receive federal exemption, significantly reduces blind spots and offers features like self-cleaning and infrared-enhanced night vision. The collaboration is backed by safety data from their previous evaluations.
Stoneridge, Inc. (NYSE: SRI) reported its fourth-quarter 2020 results with EPS of $0.13 and sales of $189.7 million, while full-year sales reached $648.0 million with a loss per share of ($0.29). Adjusted EPS for Q4 was $0.14. The company anticipates 2021 sales between $770 million and $790 million, factoring in supply chain challenges. Adjusted EPS guidance is set at $0.60 to $0.75. Stoneridge aims for significant growth driven by new program launches and a projected CAGR of at least 10% through 2025. As of Q4, net debt decreased by $13.5 million, with cash reserves totaling $73.9 million.
Stoneridge Inc. (NYSE: SRI) announced the appointment of Frank S. Sklarsky to its board of directors, expanding the board to nine members. Sklarsky brings extensive experience, previously serving as executive vice president and CFO at PPG Industries and Tyco International, among others. His expertise in global business growth and financial strategies is expected to enhance Stoneridge's growth initiatives. Sklarsky holds a bachelor's degree in Accounting from the Rochester Institute of Technology and an MBA from Harvard University.
Stoneridge, Inc. (NYSE: SRI) will host a live webcast of its fourth-quarter 2020 earnings conference call on February 25, 2021, at 9:00 a.m. ET. The call will feature insights from president and CEO Jon DeGaynor and CFO Robert Krakowiak. Investors can access the webcast via the Webcasts & Presentations page on the company’s website. Stoneridge is an independent designer and manufacturer of electrical and electronic components primarily serving automotive and commercial vehicle markets.
Stoneridge, Inc. (NYSE: SRI) announced participation in the Stephens Annual Investment Conference 2020 with a fireside chat featuring CEO Jon DeGaynor and CFO Bob Krakowiak on November 18, 2020, at 8:00 a.m. ET. Interested parties can access the webcast through the Investors/Webcasts & Presentations section on the company’s website prior to the event. Stoneridge specializes in engineering electrical and electronic components for various markets, including automotive and commercial vehicles. Further details are available at Stoneridge.com.
Stoneridge (NYSE: SRI) announces participation in the Gabelli 44th Annual Automotive Aftermarket Symposium. CEO Jon DeGaynor and CFO Bob Krakowiak will engage in a fireside chat on November 2, 2020, at 11:30 a.m. ET. Details for the webcast will be available on the company's website prior to the event. Based in Novi, Michigan, Stoneridge specializes in highly engineered electrical components for various vehicle markets.
Stoneridge, Inc. (NYSE: SRI) reported Q3 2020 earnings with a diluted EPS of $0.25 and adjusted EPS of $0.18 on sales of $175.8 million. Gross profit was $46.0 million, reflecting a 26.5% gross margin. The operating income was $9.8 million (4.7% of sales) with an adjusted EBITDA of $16.9 million (9.6% of sales). The company anticipates Q4 sales between $165 million and $175 million and projected 2021 sales of at least $715 million, indicating over 20% growth. The CEO highlighted strong recovery and improved margins, driven by the successful commercialization of MirrorEye® and increased demand in end markets.
Stoneridge, Inc. (NYSE: SRI) will host a webcast for its third-quarter 2020 earnings conference call on October 29, 2020, at 9:00 a.m. ET. The call will feature president and CEO Jon DeGaynor and CFO Robert Krakowiak. Investors can access the live webcast on the company's website under the Investors section. Stoneridge, based in Novi, Michigan, specializes in designing and manufacturing electrical and electronic components for various vehicle markets including automotive and commercial vehicles.
Stoneridge, Inc. (NYSE: SRI) was awarded the title of 2020 U.S. Best Overall Investor Relations (Small Cap) by IR Magazine on September 16 during a virtual ceremony. This recognition reflects the company's successful transformation and effective communication strategy with analysts and investors. Matt Horvath, Executive Director of Corporate Strategy and Investor Relations, accepted the award. Stoneridge stood out among six finalists in the Best Overall Investor Relations (Small Cap) category after an extensive evaluation process by IR Magazine.
Stoneridge, Inc. (NYSE: SRI) announced participation in the C.L. King's 18th Annual Best Ideas Conference on September 16, 2020, featuring a fireside chat with CEO Jon DeGaynor and CFO Bob Krakowiak at 2:00 p.m. ET. Interested investors can access the webcast details via the Company's website prior to the presentation. Stoneridge specializes in designing and manufacturing advanced electrical and electronic components for various vehicle markets.
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