NYSE:SRIAuto Components
Stoneridge (SRI) MirrorEye Growth Contrasts With Persistent Margin Pressure
Stoneridge came into this earnings print as a deeply loss making auto supplier that the market has largely priced for trouble. The stock slipped about 3% to US$7.25 after the release. That move understates how much the quarter reshaped the story. Revenue reached US$181.4m with organic growth comfortably ahead of key original equipment manufacturer end markets, and MirrorEye camera systems delivered a record US$37m in sales.
The catch is margin quality. Gross margin compressed while adjusted...