Q3 2025 Stoneridge Inc Earnings Call Transcript
Key Points
- Stoneridge Inc (SRI) announced an incremental $185 million of program awards and expansions, including a new award for MirrorEye and several for control devices.
- Adjusted EBITDA improved to $11.7 million, representing a $3.6 million improvement over the prior quarter and a 200 basis point margin expansion.
- MirrorEye sales increased by 78% year-to-date, with strong take rates in Europe and positive feedback from North American OEM customers.
- Stoneridge Inc (SRI) secured several new business wins for Control Devices, including a second Leak Detection Module award for hybrid applications and program extensions with Ford.
- Stoneridge Brazil's third quarter sales increased by 23.5% relative to the second quarter, driven by higher local OEM sales.
- Third quarter sales declined by 7.8% compared to the second quarter due to reduced customer production volumes in key commercial vehicle end markets.
- North American commercial vehicle production fell by approximately 21% quarter to quarter, impacting sales performance.
- Third quarter adjusted operating income was $2.4 million, with a 100 basis point improvement in adjusted operating margin, but still impacted by lower sales volume.
- Supply chain constraints, including a fire at an aluminum supplier and potential electronic component disruptions, may continue to impact production.
- Stoneridge Inc (SRI) updated its full-year revenue guidance to the low end of the previously provided range due to lower production volume expectations in North American and European commercial vehicle end markets.
Good morning and welcome to the Stoneridge Inc. third-quarter 2025 results conference call. (Operator Instructions) Please note that this event is being recorded.
I would now like to turn the conference over to Kelly Harvey, Director of Investor Relations. Please go ahead.
Good morning, everyone, and thank you for joining us to discuss our third-quarter 2025 results. The release and accompanying presentation was filed with the SEC and is posted on our website at stoneridge.com in the Investors section under Presentations and Events. Joining me on today's call are Jim Zizelman, our President and Chief Executive Officer; and Matt Horvath, our Chief Financial Officer.
During today's call, we will be referring to certain non-GAAP financial measures. Please see slide 2 of the presentation for a more detailed description of these non-GAAP measures and the appendix for a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures. In addition, certain
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