Stoneridge ( (SRI) ) just unveiled an announcement.
Stoneridge, Inc. reported its financial results for the fourth quarter and full year ending December 31, 2024. The company experienced a net cash improvement of approximately $43 million year-over-year, primarily driven by a $36 million reduction in inventory. Despite a net loss of $6.1 million in the fourth quarter, Stoneridge set ambitious revenue and EBITDA targets for 2025 and 2026, with expectations of significant contributions from its MirrorEye technology. The company also focused on cost reductions and operational efficiency improvements, achieving a 7% year-over-year improvement in material and labor costs. Challenges included lower sales in certain markets and higher quality-related costs, but strategic initiatives are in place to address these issues moving forward.
More about Stoneridge
Stoneridge, Inc. operates in the automotive industry, providing products such as electronic control units, sensors, and actuators. The company focuses on enhancing vehicle safety and efficiency, with significant market presence in North America, Europe, and South America.
YTD Price Performance: -28.50%
Average Trading Volume: 309,747
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $116M
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