Stoneridge (SRI) Q1 2025 Earnings Call May 01, 2025 09:00 AM ET Speaker0 Good morning, everyone, and thank you for joining us to discuss our first quarter twenty twenty five results. The release and accompanying presentation was filed with the SEC and is posted on our website at stoneridge.com in the Investors section under Presentations and Events. Joining me on today's call are Jim Ziezelman, our President and Chief Executive Officer and Matt Horvath, our Chief Financial Officer. During today's call, we w ...

May 1, 2025 stoneridge.com © 2025 Non-GAAP Financial Measures This presentation contains information about the Company's financial results that is not presented in accordance with accounting principles generally accepted in the United States ("GAAP"). Such non-GAAP financial measures are reconciled to their closest GAAP financial measures at the end of this presentation. The provision of these non-GAAP financial measures for 2025 and 2024 is not intended to indicate that Stoneridge is explicitly or implicit ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or For the quarter ended March 31, 2025 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-13337 STONERIDGE, INC (Exact name of registrant as specified in its charter) Ohio 34-1598949 (State or other jurisdiction of incorporation or organization) (I.R.S. ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Stoneridge Reports First Quarter 2025 Results Strong Quarter-to-Quarter Margin Progression MirrorEye® and SMART 2 Tachograph Set Quarterly Sales Records Maintaining Previously Provided Full-Year 2025 Guidance 2025 First Quarter Results 2025 Full-Year Guidance • Maintaining previously provided full-year 2025 guidance ranges NOVI, Mich. – April 30, 2025– Stoneridge, Inc. (NYSE: SRI) today announced financial results for the first quarter ended March 31, 2025. The Company ann ...

Strong Quarter-to-Quarter Margin Progression MirrorEye® and SMART 2 Tachograph Set Quarterly Sales RecordsMaintaining Previously Provided Full-Year 2025 Guidance 2025 First Quarter Results Sales of $217.9 million Gross profit of $46.3 million (21.2% of sales) Adjusted gross profit of $47.7 million (21.9% of sales) Operating loss of $(3.2) million ((1.5)% of sales) Adjusted operating loss of $(0.4) million ((0.2)% of sales) Net loss of $(7.2) million ((3.3)% of sales) Adjusted net loss of $(5.1) million ((2. ...

Group 1 - Stoneridge, Inc. will host a live webcast for its first quarter 2025 earnings conference call on May 1, 2025, at 9:00 a.m. ET [1] - The conference call will feature president and CEO Jim Zizelman and CFO Matt Horvath [1] - The webcast can be accessed through the Presentations & Events page on the company's website [1] Group 2 - Stoneridge, Inc. is headquartered in Novi, Michigan, and is a global supplier of electronic systems and technologies [2] - The company's products enhance vehicle intelligence and ensure safety and security for both on- and off-highway transportation sectors worldwide [2] - Additional information about Stoneridge can be found on their official website [2]

Sparton Receives Ontario Government OJEP Funding for Pense Critical Metals ProjectTORONTO, March 27, 2025 (GLOBE NEWSWIRE) -- Sparton Resources Inc. (TSXV-SRI) ("Sparton" or the "Company”) announced today that it has received a total of $169,117.79 in funding from the Province of Ontario through the Ontario Junior Exploration Program (“OJEP”) which supports Critical Metals exploration in the Province. This funding supported the Company’s ground geophysics work, and the successful drilling program on its Pen ...

NOVI, Mich., March 14, 2025 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) today announced upcoming changes to its Board of Directors. Longstanding board members George S. Mayes, Jr. and Paul J. Schlather will retire from the Board for personal reasons and will not seek reelection as part of the Company's 2025 Slate of Directors. The Board has decided not to fill these vacancies, reducing its membership to seven. Mayes has served on Stoneridge's Board since 2012, including as Chairman of the Compliance and Et ...

Financial Performance - The company reported a net loss of $16.5 million, or $(0.60) per diluted share, for the year ended December 31, 2024, an increase in net loss by $11.3 million from the previous year[115]. - Total net sales for 2024 were $908.3 million, a decrease of $67.5 million or 6.9% compared to 2023's $975.8 million[142]. - The total loss before income taxes for 2024 was $13,597 thousand, compared to a loss of $1,922 thousand in 2023[295]. - Comprehensive loss income for 2024 totaled $45,749 thousand, a stark contrast to a comprehensive income of $5,171 thousand in 2023[214]. - The company reported a net loss of $16.5 million for 2024, compared to a net loss of $5.2 million in 2023, reflecting a significant increase in losses[212]. Sales and Revenue - Net sales decreased by $67.5 million, or 6.9%, in 2024, with the Control Devices segment experiencing a 14.5% decline in net sales[116][138]. - The Electronics segment's net sales decreased by 1.8%, primarily due to lower customer demand in agricultural and commercial vehicle markets, despite higher sales from the European commercial vehicle market[119]. - North American net sales decreased by $48.4 million or 9.8%, attributed to lower sales volume and expected end-of-life production impacts[142]. - Control Devices segment net sales in North America decreased to $245,208 thousand in 2024 from $290,213 thousand in 2023, a decline of 15.5%[277]. - Electronics segment net sales in North America slightly decreased to $201,934 thousand in 2024 from $205,328 thousand in 2023, a decline of 1.9%[277]. Cash and Liquidity - The company increased cash and cash equivalents to $71.8 million in 2024, up from $40.8 million in 2023, due to reduced working capital and lower inventory levels[123]. - Cash provided by operating activities increased to $47.7 million in 2024, up by $42.8 million from $4.9 million in 2023[158]. - The company holds approximately $71.8 million in cash and cash equivalents, with 65.8% held in foreign locations, and $73.4 million of undrawn commitments under the Credit Facility[172]. Expenses and Costs - The gross margin increased to 20.8% in 2024 from 20.6% in 2023, with material costs as a percentage of net sales decreasing by 1.8% to 57.6%[145]. - Interest expense for 2024 was $14.4 million, up from $13.0 million in 2023, reflecting the impact of floating-rate debt[212]. - Business realignment costs were $2.6 million in 2024, down from $4.5 million in 2023, primarily related to optimizing the engineering footprint[136]. - Share-based compensation expense increased to $4,094 thousand in 2024 from $3,322 thousand in 2023[217]. Investments and Obligations - The company has a total contractual obligation of $238.4 million as of December 31, 2024, including $201.6 million under the Credit Facility[160]. - The company entered into a new credit facility on November 2, 2023, providing for a $275,000 thousand senior secured revolving credit facility[286]. - The company has accrued for estimated losses related to legal proceedings and claims, assessing the likelihood of adverse judgments[185]. Foreign Currency and Risks - The company is exposed to foreign currency exchange rate fluctuations, particularly in Brazil, Argentina, Mexico, Sweden, Estonia, the Netherlands, the United Kingdom, and China[171]. - The company estimates that a 10.0% unidirectional change in currency exchange rates would have affected income before income taxes by approximately $2.9 million for the year ended December 31, 2024[198]. - The company has significant operations in multiple regions, including Europe and South America, which exposes it to translation risk due to currency fluctuations[195]. Research and Development - The company plans to focus on developing products addressing industry megatrends, including safety and vehicle intelligence, with ongoing projects like the OEM MirrorEye programs and next-generation tachograph[124]. - Research and development costs incurred were $11,883 thousand, $18,809 thousand, and $23,784 thousand for the years ended December 31, 2024, 2023, and 2022, respectively[256]. - Total product development costs amounted to $72,174 thousand in 2024, representing 7.9% of net sales, compared to $71,075 thousand (7.3%) in 2023[255]. Assets and Liabilities - Total current assets decreased to $387.5 million in 2024 from $429.4 million in 2023, primarily due to a reduction in inventories[211]. - The company's total liabilities increased to $376.3 million in 2024 from $392.2 million in 2023, with long-term liabilities rising to $226.3 million[211]. - The reserve for product warranty and recall totaled $27.5 million as of December 31, 2024, indicating ongoing management of product-related liabilities[209]. Accounting and Compliance - The Company adopted ASU No. 2023-07 for segment reporting, effective for annual periods beginning in fiscal 2025[191]. - The Company is evaluating the impact of recently issued accounting standards on its financial statement disclosures, with new standards effective for fiscal years beginning after December 15, 2024[193]. - Deferred tax assets are subject to valuation allowances if it is more likely than not that they will not be realized in future periods[187].

Full-Year & Q4 2024 Results February 27, 2025 stoneridge.com © 2025 Full-Year & Q4 2024 Results Non-GAAP Financial Measures This presentation contains information about the Company's financial results that is not presented in accordance with accounting principles generally accepted in the United States ("GAAP"). Such non-GAAP financial measures are reconciled to their closest GAAP financial measures at the end of this presentation. The provision of these non-GAAP financial measures for 2024 and 2023 is not ...