Stoneridge Cuts FY24 Revenue Guidance From $990M - $1.01B To $940M - $970M ($991.884M), Adjusted EPS To $0.18 - $0.28 (Est $0.15)
Benzinga Newsdesk 2 years ago
NewsGuidance
Reducing full-year 2024 revenue midpoint guidance by $45 million to reflect updated FX rates (~$12 million impact), updated OEM production volumes (~$18 million impact) and potential
Reducing full-year 2024 revenue midpoint guidance by $45 million to reflect updated FX rates (~$12 million impact), updated OEM production volumes (~$18 million impact) and potential volatility in non-OEM and customer demand-based products (~$15 million impact).
Reducing adjusted operating margin and EBITDA margin expectations to reflect lower contribution from reduced revenue expectations, offset by improved gross margin performance and continued operating cost control