Slide 1: Q1 2024 Results
stoneridge.com © 2024 Q1 2024 Results May 2, 2024 Exhibit 99.2
Slide 2: Forward-Looking Statements
stoneridge.com © 2024 Q1 2024 Results 2 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 or implied by the
Slide 3: Overview of Achievements and Q1 2024 Quarterly Results
stoneridge.com © 2024 Q1 2024 Results • Maintaining previously guided full-year 2024 ranges • Improved material costs for the remainder of the year offsetting first quarter incremental warranty-related expenses • Improved operating performance for the remainder of the year offsetting first quarter n
Slide 4: Financial Summary
4stoneridge.com © 2024 Q1 2024 Results Sales Gross Profit Operating Income EBITDA Q1 2023* vs. Q1 2024 +3.0% +170 bps +160 bps +120 bps First quarter performance driven by material cost improvement and focus on managing cost structure Financial Summary Q1 2024 Key Drivers • Sales growth of 3.0% vs.
Slide 5: Smart Tachograph Update
stoneridge.com © 2024 Q1 2024 Results 5 Smart 2 Tachograph Update From August 21, 2023 In all newly registered vehicles (national and international) above 3.5 tons Before the end of 2024 Mandatory retrofit for all Analogue & 1B digital tachographs for international transport Before August 19, 2025 M
Slide 6: Stoneridge Focused on Sustainability
stoneridge.com © 2024 Q1 2024 Results 6 Stoneridge Focused on Sustainability Stoneridge issues inaugural Sustainability Report and launches sustainability website Our Products Our Operations Our People Our Governance*Refer to 2023 Sustainability Report and Sustainability website for additional infor
Slide 7: Key Priorities Update
7stoneridge.com © 2024 Q1 2024 Results Key Priorities Update Q1 2024 Q1 Summary • 2-3x Market Growth – Targeting ~4% growth in 2024 vs. (4.4)% decline expected in our weighted- average OEM end markets** Revenue growth of 3% over Q1 2023* vs. (0.3)% decline in our weighted average OEM end- markets*
Slide 8: Financial Update
stoneridge.com © 2024 Financial Update
Slide 9: Q1 2024 Financial Highlights and 2024 Full-Year Guidance
9stoneridge.com © 2024 Q1 2024 Results Q1 2024 Financial Highlights Q1 2024 Reported 2024 Full-Year Guidance $990.0 million - $1.01 billion$239.2 million Sales $217.8 million - $229.8 million 22.0% - 22.75% $48.4 million 20.2% Gross Profit Margin $27.2 million - $32.8 million 2.75% - 3.25% $0.3 mill
Slide 10: Q1 EBITDA Performance Drivers
stoneridge.com © 2024 Q1 2024 Results 10 Non-operating FX, equity interest and incremental warranty-related items unfavorably impacted Q1 by ~$4.3 million Q1 EBITDA Performance Drivers Other Operating Performance Drivers • Unfavorable sales volume and mix •Electric vehicle reduced demand •Tachograph
Slide 11: Control Devices Performance
11stoneridge.com © 2024 Q1 2024 Results Sales Operating Income* $’s in USD Millions Margin expansion driven by reduced material costs and improved manufacturing performance – expected to continue in 2024 Control Devices Performance Q1 2024 Financial Results 2024 Expectations • Lower sales vs. Q1 202
Slide 12: Electronics Performance
12stoneridge.com © 2024 Q1 2024 Results Sales Operating Income Q1 2023* vs Q1 2024 $’s in USD Millions Continued strong revenue growth and margin expansion in Q1 2024 – Expecting significant revenue growth and strong margin contribution in 2024 Electronics Performance $140.5 $156.1 Q1 2023 Q1 2024 Q
Slide 13: Stoneridge Brazil Performance
13stoneridge.com © 2024 Q1 2024 Results Sales Operating Income Q1 2023 vs Q1 2024 $’s in USD Millions Focus remains on growth in local OEM business and engineering capabilities to support global business. Stoneridge Brazil Performance 1.7% Q1 2024 Financial Results 2024 Expectations • Q1 sales decli
Slide 14: Capital Structure Update
14stoneridge.com © 2024 Q1 2024 Results Earnings expansion and inventory management are expected to strengthen our net cash position and improve compliance leverage ratio in 2024 Capital Structure Update Capital Structure Update • Generated $9.1 million of operating cash during Q1 2024, an $18.3 mil
Slide 15: Summary
15stoneridge.com © 2024 Q1 2024 Results Summary • Control Devices – Focused on margin expansion through reduced material costs and improved manufacturing performance. Driving growth through continued investment in drivetrain agnostic technologies. • Electronics – Expecting continued growth over mark
Slide 16: Appendix Materials
stoneridge.com © 2024 Appendix Materials
Slide 17: Balance Sheets
stoneridge.com © 2024 Appendix 17 Balance Sheets December 31, 2023 March 31, 2024(in thousands) (Unaudited) ASSETS Current assets: $ 40,841$ 48,440Cash and cash equivalents 166,545170,296Accounts receivable, less reserves of $932 and $1,058, respectively 187,758179,891Inventories, net 34,24632,716Pr
Slide 18: Income Statement
stoneridge.com © 2024 Appendix 18 Income Statement Three months ended March 31, 20232024(in thousands, except per share data) $ 241,325$ 239,157Net sales Costs and expenses: 198,523190,800Cost of goods sold 29,86330,423Selling, general and administrative 16,96817,603Design and development (4,029)331
Slide 19: Statements of Cash Flows
stoneridge.com © 2024 Appendix 19 Statements of Cash Flows 20232024Three months ended March 31, (in thousands) OPERATING ACTIVITIES: $ (7,386)$ (6,126)Net loss Adjustments to reconcile net loss to net cash provided by (used for) operating activities: 6,5736,601Depreciation 1,9462,164Amortization, in
Slide 20: Segment Reporting
stoneridge.com © 2024 Appendix 20 Segment Reporting (A) Unallocated Corporate expenses include, among other items, accounting/finance, human resources, information technology and legal costs as well as share-based compensation. (B) These amounts represent depreciation and amortization on a property,
Slide 21: Reconciliations to US GAAP
stoneridge.com © 2024 Reconciliations to US GAAP
Slide 22: Non-GAAP financial measures notice
stoneridge.com © 2024 US GAAP Reconciliations US GAAP Reconciliations 22 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 reco
Slide 23: Reconciliation of Q1 2023 Adjusted EPS
stoneridge.com © 2024 US GAAP Reconciliations 23 US GAAP Reconciliations Reconciliation of Q1 2023 Adjusted EPS Q1 2023 EPSQ1 2023(USD in millions, except EPS) $ (0.27)$ (7.4)Net Loss 0.041.0Add: After-Tax Business Realignment Costs (0.02)(0.6)Less: After-Tax Gain on Disposal of Fixed Assets —0.1Add
Slide 24: Reconciliation of Adjusted Gross Profit
stoneridge.com © 2024 US GAAP Reconciliations 24 US GAAP Reconciliations Reconciliation of Adjusted Gross Profit Q1 2024Q1 2023(USD in millions) $ 48.4$ 42.8Gross Profit —0.2Add: Pre-Tax Business Realignment Costs $ 48.4$ 43.0Adjusted Gross Profit
Slide 25: Reconciliation of Adjusted Operating Income (Loss)
stoneridge.com © 2024 US GAAP Reconciliations 25 US GAAP Reconciliations Reconciliation of Adjusted Operating Income (Loss) Q1 2024Q1 2023(USD in millions) $ 0.3$ (4.0)Operating Income (Loss) —1.3Add: Pre-Tax Business Realignment Costs —(0.8)Less: Pre-Tax Gain on Disposal of Fixed Assets —0.1Add: Pr
Slide 26: Reconciliation of Adjusted EBITDA
stoneridge.com © 2024 US GAAP Reconciliations 26 US GAAP Reconciliations Reconciliation of Adjusted EBITDA Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023(USD in millions) $ (5.6)$ 3.2$ 4.4$ (1.5)$ (8.1)Income (Loss) Before Tax 3.63.83.33.12.7Interest expense, net 8.68.48.58.48.3Depreciation and amortization $
Slide 27: Reconciliation of Segment Adjusted Operating Income
stoneridge.com © 2024 US GAAP Reconciliations 27 US GAAP Reconciliations Reconciliation of Control Devices Adjusted Operating Income Q1 2024Q1 2023(USD in millions) $ 2.2$ 2.1Control Devices Operating Income —(0.8)Less: Pre-Tax Gain on Disposal of Fixed Assets —0.1Add: Pre-Tax Environmental Remediat
Slide 28: Reconciliation of Adjusted Sales
stoneridge.com © 2024 US GAAP Reconciliations 28 US GAAP Reconciliations Reconciliation of Adjusted Sales Q1 2024Q1 2023(USD in millions) $ 239.2$ 241.3Sales —(9.1)Less: Sales from Spot Purchases Recoveries $ 239.2$ 232.2Adjusted Sales Reconciliation of Electronics Adjusted Sales Q1 2024Q1 2023(USD
Slide 29: Reconciliation of Adjusted EBITDA for Compliance Calculation
stoneridge.com © 2024 US GAAP Reconciliations 29 US GAAP Reconciliations Reconciliation of Adjusted EBITDA for Compliance Calculation Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023(USD in millions) (5.6)3.2$ 4.4$ (1.5)$ (8.1)Income (Loss) Before Tax 3.63.83.33.12.7Interest Expense, net 8.68.48.58.48.3Depreciat
Slide 30: Reconciliation of Adjusted Cash and Debt for Compliance
stoneridge.com © 2024 US GAAP Reconciliations 30 US GAAP Reconciliations Reconciliation of Adjusted Cash for Compliance Calculation Q1 2024Q4 2023(USD in millions) $ 48.4$ 40.8Total Cash and Cash Equivalents (14.8)(12.8)Less: 35% Cash Foreign Locations $ 33.6$ 28.0Total Adjusted Cash (Compliance) Re
Slide 31: Stoneridge
stoneridge.com © 2024 Stoneridge @StoneridgeInc StoneridgeGlobal 31