Brief: Stoneridge Reports Q3 Adjusted Earnings Per Share $0.37

Stoneridge

30/10/2019 22:33

Oct 30 (Reuters) - Stoneridge Inc  SRI.N :
    * Q3 EARNINGS PER SHARE $0.24
    * Q3 ADJUSTED EARNINGS PER SHARE $0.37
    * QTRLY SALES OF $203.4 MILLION
    * Q3 EARNINGS PER SHARE VIEW $0.37, REVENUE VIEW $203.8
MILLION --
REFINITIV IBES DATA
    * SEES  FULL-YEAR ADJUSTED REVENUE GUIDANCE MIDPOINT OF
$817.5
MILLION
    * SEES  FULL-YEAR ADJUSTED EPS GUIDANCE MIDPOINT OF $1.55
    * SEES  FULL-YEAR ADJUSTED GROSS MARGIN GUIDANCE MIDPOINT OF
27.5%
    * SEES  FULL-YEAR ADJUSTED OPERATING MARGIN GUIDANCE
MIDPOINT OF
6.5%
    * REDUCED PRODUCTION VOLUMES FORECASTED TO IMPACT SECOND
HALF
ADJUSTED EPS BY $0.15
    * GM STRIKE FORECASTED TO IMPACT SECOND HALF ADJUSTED EPS BY
$0.07
    * CURRENCY FORECASTED TO IMPACT SECOND HALF ADJUSTED EPS BY
$0.04
    * SEES  FULL-YEAR ADJUSTED EBITDA MARGIN GUIDANCE OF 10.5%
    * FOR FY 2019, ADJUSTING GUIDANCE TO REFLECT CURRENT MARKET
CONDITIONS AS WELL AS OFFSETTING ACTIONS CO TOOK DURING Q3
    * STONERIDGE-FORECAST REVENUE IMPACT OF ABOUT $26 MILLION
FOR H2
AS RESULT OF GM STRIKE, REDUCED PRODUCTION VOLUMES, UNFAVORABLE
IMPACT OF FOREIGN CURRENCY
    * IN QUARTER, EXPERIENCED STRONGER-THAN-EXPECTED EXTERNAL
HEADWINDS RELATED TO PRODUCTION VOLUMES, GM STRIKE AND FOREIGN
CURRENCY
    * FY2019 EARNINGS PER SHARE VIEW $1.63, REVENUE VIEW $844.9
MILLION -- REFINITIV IBES DATA

Source: (https://bit.ly/2MZ5DOM)
Further company coverage:  SRI.N 

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