Noticias y eventos de Stoneridge Inc (SRI)SRIStoneridge Inc

Company Reports Q3 Revenue of $155.8M, Up 12.4% YoY

Reports Q3 revenue $155.8M, up 12.4% year-over-year. "We delivered another quarter of strong execution, with adjusted sales growth of nearly 30% and adjusted EBITDA growth of more than 40% year over year, despite increasing inflationary pressures and supply chain disruption," said Natalia Noblet, president and chief executive officer. "During the third quarter, we also resolved several legacy customer warranty matters and completed a review of obsolete inventory across our Electronics Division. Finally, the approximate $180 million of additional vision systems business further validates our technology and strengthens our position in the OEM market. We are encouraged by our progress, and our strengthened leadership team remains intensely focused on execution, mitigating inflationary headwinds and delivering results as global vehicle production volumes recover from the cyclical trough."

Adjusted EBITDA Now Expected at $20 Million

Adjusted EBITDA now anticipated at the bottom end of the prior $20 million to $25 million range driven by higher transitory costs, inflationary pressures and unfavorable currency impacts.

Stoneridge Secures $42.3M New Program Contract

Stoneridge announced a major new program award for its MirrorEye Camera Monitor System. The award, the largest bus and coach CMS program in Stoneridge's history, is with an existing bus platform of a global commercial vehicle manufacturer. The program represents approximately $42.3M in projected lifetime revenue and approximately $10.6M in estimated peak annual revenue, with full commercialization expected in 2027. "This latest program award is a strong signal of where the industry is headed and the broader transformation underway as OEMs accelerate the shift toward digitalization and next-generation technologies," said Natalia Noblet, President and CEO, at Stoneridge. "Transit operators are looking for safer, smarter, and more efficient solutions, and MirrorEye continues to deliver on all fronts. Just as importantly, it reflects the strength of our customer relationships and the trust we've built to create a foundation for continuous collaboration and future program opportunities."