SRI - Stoneridge Non-GAAP EPS of -$0.05 beats by $0.06 revenue of $262.4M beats by $20.27M
2023-08-02 17:57:21 ET
- Stoneridge press release ( NYSE: SRI ): Q2 Non-GAAP EPS of -$0.05 beats by $0.06 .
- Revenue of $262.4M (+18.8% Y/Y) beats by $20.27M .
- Shares +2.72% AH.
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Reaffirming 2023 Full-year Guidance
- Expecting operating performance to be at the high end of the previously provided ranges
- Adjusted sales of $960.0 - $990.0 million, vs. consensus of $960.56M.
- Adjusted gross margin of 20.5% - 21.25%
- Adjusted operating margin of 1.5% - 2.25%
- Reaffirming previously provided guidance ranges for adjusted EPS, adjusted EBITDA and adjusted tax expense driven by unfavorable impact of year-to-date non-operating expenses
- Adjusted EPS of $(0.10) - $0.10 (break-even midpoint), vs. consensus of -$0.13
- Incremental non-operating expenses reduced adjusted EPS guidance by ~$(0.12) in the first half of the year
- Adjusted EBITDA margin of 5.3% - 5.9% ($50.9 - $58.4 million)
- Incremental non-operating expenses reduced adjusted EBITDA by $(4.0) million in the first half of the year
- Adjusted EPS of $(0.10) - $0.10 (break-even midpoint), vs. consensus of -$0.13
- Adjusted tax expense of $3.0 to $4.0 million
- Expecting operating performance to be at the high end of the previously provided ranges
For further details see:
Stoneridge Non-GAAP EPS of -$0.05 beats by $0.06, revenue of $262.4M beats by $20.27M