SRI - Stoneridge beats on revenue; updates guidance

Stoneridge (NYSE:SRI): Q2 Non-GAAP EPS of -$0.14; GAAP EPS of $0.72. Revenue of $191.3M (+92.2% Y/Y) beats by $5.39M. Guiding to the high-end of the previously provided full-year revenue guidance ($770.0 million - $790.0 million) based on first half performance and current forecasted production outlook vs. consensus of $772.03M Reducing full-year adjusted EPS guidance by $0.30 to a midpoint of $0.25 ($0.20 - $0.30) vs. consensus of $0.45 Further, the Company announced updated full-year adjusted gross margin guidance of 24.0% - 25.0%, adjusted operating margin guidance of 2.0% - 2.5% and adjusted EBITDA margin guidance of 6.5% - 7.0% primarily related to incremental supply chain related costs and other externalities. Press Release

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Stoneridge beats on revenue; updates guidance