Stoneridge, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 02:34 am IST
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Stoneridge, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 266.81 million compared to USD 220.94 million a year ago. Net loss was USD 2.99 million compared to USD 7.34 million a year ago. Basic loss per share from continuing operations was USD 0.11 compared to USD 0.27 a year ago. Diluted loss per share from continuing operations was USD 0.11 compared to USD 0.27 a year ago.
For the six months, sales was USD 508.14 million compared to USD 441.99 million a year ago. Net loss was USD 10.38 million compared to USD 15.01 million a year ago. Basic loss per share from continuing operations was USD 0.38 compared to USD 0.55 a year ago. Diluted loss per share from continuing operations was USD 0.38 compared to USD 0.55 a year ago.
Stoneridge, Inc. is a global designer and manufacturer of engineered electrical and electronic systems, components and modules for the automotive, commercial, off-highway and agricultural vehicle markets. The Company operates through three segments: Control Devices, Electronics and Stoneridge Brazil. Its Control Devices segment designs and manufactures products that monitor, measure or activate specific functions within a vehicle. Its Electronics segment designs and manufactures driver information systems, vision and safety systems, connectivity and compliance products and electronic control units. Its Stoneridge Brazil (SRB) segment primarily serves the South American market and specializes in the design, manufacture and sale of vehicle tracking devices and monitoring services, vehicle security alarms and convenience accessories, in-vehicle audio and infotainment devices, driver information systems and telematics solutions primarily for the automotive market.
STONERIDGE, INC. 
