Stoneridge, Inc. (SRI) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Although we believe that such statements are based upon reasonable assumptions, you should understand that these statements are subject to risks and uncertainties, and the actual results may differ materially. Additional information about such factors and uncertainties that could cause actual results to differ may be found on page 3 of the presentation and in our Form 10-Q, which has been filed with the Securities and Exchange Commission under the Heading Forward-Looking Statement. After Jim and Matt have finished their formal remarks, we will then open up the call to questions. And with that, I will hand the call over to Jim. Thanks, Kelly, and good morning, everyone. Let me begin on page 4. In summary, our second quarter performance highlights our continued progress across all of our key initiatives. This quarter, we set yet another record for mirror-eye sales. We announced our largest-ever program award in the history of the company. We improved our quarterly-related costs and continued to improve our balance sheet through reduced net debt and improved inventory balances. Storage continues to be the leading provider of camera vision systems globally. Our record-setting quarterly sales for mirror-eye resulted in an impressive 21% growth relative to the first quarter of 2025. This is driven by the continued ramp-up of our previously launched OEM programs and the OEM programs in North America. Mirror-eye continues to be a strong growth driver for Stormridge as the system continues to gain momentum with incremental OEM demand and continued expansion in our aftermarket applications. We also continue to focus on and improve our balance sheet by driving working capital reductions through continued management of our inventory and the execution of a global program to repat...