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Stoneridge Cuts FY24 Revenue Guidance From $990M - $1.01B To $940M - $970M ($991.884M), Adjusted EPS To $0.18 - $0.28 (Est $0.15)

Author: Benzinga Newsdesk | July 31, 2024 06:16pm

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

Posted In: SRI


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