Stoneridge reports Q1 cont-op EPS (52c) vs. (29c) last year

Reports Q1 revenue $160.8M vs. $149.06M last year. “Q1 represents solid progress to start the year and an important step forward in executing our long-term strategy,” said CEO Natalia Noblet. “Our results were driven by improved manufacturing performance, reduced quality-related costs, favorable net tariff recoveries, and cost control across the organization. MirrorEye continues to be a key growth driver, delivering record first quarter sales and accelerating momentum with global OEMs in the commercial vehicle end markets. We remain focused on driving earnings expansion as we capitalize on our portfolio of advanced technologies and drive cost efficiencies to improve profitability. Our priority is to deliver outstanding value to customers while collaborating with our partners to advance next-generation technologies for safer and more efficient transportation. Today, we are announcing two major business awards totaling over $135M of estimated lifetime revenue, including an OEM-integrated MirrorEye program with our fourth North American OEM customer, and a next-generation electronic controls program for a global off-highway manufacturer. These awards highlight our ability to deliver reliable, high-performance solutions for our customers while continuing to build on our strong backlog of growth products.”