Stoneridge, Inc. · NYSE:SRI

Stoneridge — Q1 2025 Earnings Presentation

29 slides from Stoneridge's earnings presentation, May 1, 2025

Slide 2: Non-GAAP Financial Measures
Q1 2025 Results Non-GAAP Q1 Q1 Financial Measures Reported Adjusted / Non- GAAP 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 $217.9 million -
Slide 3: Forward-Looking Statements
Q1 2025 Results Forward-Looking Statements Statements in this presentation that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual events or results to differ materially from those expressed in or implied by these statements. Import
Slide 4: Overview of Achievements
Q1 2025 Results Q1 2025 Overview of Achievements Q1 2025 Results • Strong Q1 performance Sales Adjusted • Gross margin improved 210 bps vs. Q4 2024 driven by lower material and Gross Margin reduced quality-related costs • Q1 free cash flow of $4.9M improved by $1.5 million vs. Q1 2024 $218M $47.7M •
Slide 5: Financial Summary: Q4 2024 vs. Q1 2025
Q1 2025 Results Q4 2024 vs. Q1 2025 Financial $218.2 $217.9 Summary Sales Q4 2024 Q1 2025 Significant Q1 margin progression driven by material and quality- related cost improvements $47.7 Adjusted $43.1 21.9% Q1 2025 Key Drivers Gross 19.7% • Q1 2025 sales relatively in line with Q4 2024 +210 bps Pr
Slide 6: Business Update: Tariffs
Q1 2025 Results Business Update Tariffs Q1 direct tariff impact was limited. Continuing to implement mitigation actions. Overall impact on consumer demand and production volumes remains uncertain Canada Relatively higher exposure to Domestic 3 OEMs • Limited exposure rather than foreign OEMs in US C
Slide 8: Financial Highlights and 2025 Guidance
Q1 2025 Results Q1 2025 Financial Highlights Q1 2025 2025 Midpoint Actuals Full-Year Guidance vs. 2024 Outperformed previously provided Q1 expectations. Maintaining full-year 2025 guidance ranges. $217.9 million $860 million - $890 million Sales 2025 Guidance • Maintaining previously provided revenu
Slide 9: Control Devices Performance
Q1 2025 Results Control Devices Performance $’s in USD Millions Q4 2024 vs. Q1 2025 Improved quality-related costs and sales growth of 10.6% led to 470 basis points of operating margin improvement $69.9 Q1 2025 Financial Results $63.2 Sales + 10.6% • Q1 sales increased by 10.6% vs. Q4 2024 primarily
Slide 10: Electronics Performance
Q1 2025 Results Electronics Q4 2024 vs Q1 2025 Performance $’s in USD Millions MirrorEye and SMART 2 set quarterly sales records. $149.4 $140.5 Q1 operating margin expansion of 130 basis points. Sales Q1 2025 Financial Results • Q1 sales were slightly lower than Q4 2024, as expected, driven by end-
Slide 11: Stoneridge Brazil Performance
Q1 2025 Results Stoneridge Brazil $’s in USD Millions Q4 2024 vs Q1 2025 Performance Revenue growth and margin expansion in Q1. $14.4 $12.4 Local OEM business grew 60%+ vs. Q4 2024. Sales + 15.9% Q1 2025 Financial Results Q4 2024 Q1 2025 • Q1 sales growth of $2.0 million, or 15.9% vs. Q4 2024, prima
Slide 12: Cash Flow Performance
Q1 2025 Results Cash Flow Q1 2024 vs Q1 2025 Performance Continued strong cash performance. Q1 cash generation improvement of $1.5 million vs. Q1 2024. Free $4.9 $3.4 Cash Q1 2025 Performance +$1.5M Flow • First quarter free cash flow of $4.9 million ($1.5 million improvement vs. Q1 2024) Q1 2024 Q1
Slide 13: Summary
Q1 2025 Results Q1 2025 Summary Strong Performance Driven by Improved Material 210 bps Costs, Reduced Quality Related Costs & Continued Gross Margin Improvement vs. Q4 2024 Focus on Structural Cost Reduction 220 bps $28M $2.5M $4.9M Material Cost Year-Over-Year Quality-Related Cost Improvement vs. Q
Slide 15: Balance Sheets
March 31, December 31, (in thousands) 2025 2024 (Unaudited) ASSETS Appendix Current assets: Cash and cash equivalents $ 79,109 $ 71,832 Accounts receivable, less reserves of $699 and $1,060, respectively 156,683 137,766 Inventories, net 151,794 151,337 Prepaid expenses and other current assets 30,43
Slide 16: Income Statement
Appendix Three months ended March 31, Income (in thousands, except per share data) 2025 2024 Statement Net sales Costs and expenses: Cost of goods sold $ 217,890 171,593 $ 239,157 190,800 Selling, general and administrative 31,696 30,423 Design and development 17,826 17,603 Operating (loss) income (
Slide 17: Statements of Cash Flows
Three months ended March 31, (in thousands) 2025 2024 OPERATING ACTIVITIES: Appendix Net loss $ (7,196) $ (6,126) Adjustments to reconcile net loss to net cash provided by (used for) operating activities: Depreciation 5,428 6,601 Amortization, including accretion of deferred financing costs 2,054 2,
Slide 18: Segment Reporting
Three months ended March 31, Appendix 2025 2024 Net Sales: Control Devices $ 68,833 $ 77,158 Inter-segment sales 1,022 831 Control Devices net sales 69,855 77,989 Segment Electronics Inter-segment sales 134,783 5,751 149,783 6,341 Reporting Electronics net sales Stoneridge Brazil 140,534 14,274 156,
Slide 19: Segment Reporting
Appendix Three months ended March 31, 2025 2024 Operating (Loss) Income: Control Devices $ 1,165 $ 2,164 Segment Electronics Stoneridge Brazil 5,505 585 7,089 204 Reporting Unallocated Corporate (A) Total operating (loss) income $ (10,480) (3,225) $ (9,126) 331 Depreciation and Amortization: Control
Slide 21: US GAAP Reconciliations
US GAAP Reconciliations US GAAP Reconciliations This document contains information about Stoneridge's financial results which 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 G
Slide 22: Reconciliation of Adjusted Gross Profit
US GAAP Reconciliations US GAAP Reconciliations Reconciliation of Adjusted Gross Profit (USD in millions) Q4 2024 Q1 2025 Gross Profit $ 42.7 $ 46.3 Add: Pre-Tax Business Realignment Costs 0.4 1.4 Adjusted Gross Profit $ 43.1 $ 47.7 stoneridge.com 22 © 2025
Slide 23: Reconciliation of Adjusted Operating Loss
US GAAP Reconciliations US GAAP Reconciliations Reconciliation of Adjusted Operating Loss (USD in millions) Q4 2024 Q1 2025 Operating Loss $ (4.4) $ (3.2) Add: Pre-Tax Business Realignment Costs 0.4 2.8 Adjusted Operating Loss $ (4.0) $ (0.4) stoneridge.com 23 © 2025
Slide 24: Reconciliation of Adjusted EBITDA
US GAAP Reconciliations US GAAP Reconciliations Reconciliation of Adjusted EBITDA (USD in millions) Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Income (Loss) Before Tax $ (5.6) $ 1.9 $ (3.7) $ (6.2) $ (5.6) Interest expense, net 3.6 3.8 3.6 3.4 3.2 Depreciation and amortization 8.6 8.5 8.8 8.3 7.3 EBITD
Slide 25: Reconciliation of Segment Adjusted Operating Income
US GAAP Reconciliations US GAAP Reconciliations Reconciliation of Control Devices Adjusted Operating Income (Loss) (USD in millions) Q4 2024 Q1 2025 Control Devices Operating Income (Loss) $ (1.8) $ 1.2 Add: Pre-Tax Business Realignment Costs 0.2 0.4 Control Devices Adjusted Operating Income (Loss)
Slide 26: Reconciliation of Free Cash Flow
US GAAP Reconciliations US GAAP Reconciliations Reconciliation of Free Cash Flow (USD in millions) Q1 2024 Q1 2025 Cash Flow from Operating Activities $ 9.1 $ 10.9 Capital Expenditures, including Intangibles (5.8) (6.1) Proceeds from Sale of Fixed Assets 0.1 0.1 Free Cash Flow $ 3.4 $ 4.9 stoneridge
Slide 27: Reconciliation of Adjusted EBITDA for Compliance Calculation
US GAAP Reconciliations US GAAP Reconciliations Reconciliation of Adjusted EBITDA for Compliance Calculation (USD in millions) Q2 2024 Q3 2024 Q4 2024 Q1 2025 Income (Loss) Before Tax $ 1.9 $ (3.7) $ (6.2) $ (5.6) Interest Expense, net 3.8 3.6 3.4 3.2 Depreciation and Amortization 8.5 8.8 8.3 7.3 EB
Slide 28: Adjusted Cash and Debt for Compliance Calculation
US GAAP Reconciliations US GAAP Reconciliations Reconciliation of Adjusted Cash for Compliance Calculation (USD in millions) Q1 2025 Total Cash and Cash Equivalents $ 79.1 Less: 35% of Cash in Foreign Locations (23.3) Total Adjusted Cash (Compliance) $ 55.8 Reconciliation of Adjusted Debt for Compli

Stoneridge — Q1 2025 Earnings Presentation on 6ix

Stoneridge — Q1 2025 Earnings Presentation

Slide 1: Q1 2025 Results

Slide 2: Non-GAAP Financial Measures

Slide 3: Forward-Looking Statements

Slide 4: Overview of Achievements

Slide 5: Financial Summary: Q4 2024 vs. Q1 2025

Slide 6: Business Update: Tariffs

Slide 7: Financial Update

Slide 8: Financial Highlights and 2025 Guidance

Slide 9: Control Devices Performance

Slide 10: Electronics Performance

Slide 11: Stoneridge Brazil Performance

Slide 12: Cash Flow Performance

Slide 13: Summary

Slide 14: Appendix Materials

Slide 15: Balance Sheets

Slide 16: Income Statement

Slide 17: Statements of Cash Flows

Slide 18: Segment Reporting

Slide 19: Segment Reporting

Slide 20: Reconciliations to US GAAP

Slide 21: US GAAP Reconciliations

Slide 22: Reconciliation of Adjusted Gross Profit

Slide 23: Reconciliation of Adjusted Operating Loss

Slide 24: Reconciliation of Adjusted EBITDA

Slide 25: Reconciliation of Segment Adjusted Operating Income

Slide 26: Reconciliation of Free Cash Flow

Slide 27: Reconciliation of Adjusted EBITDA for Compliance Calculation

Slide 28: Adjusted Cash and Debt for Compliance Calculation

Slide 29: stoneridge.com