Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 31, 2024

STONERIDGE, INC.

(Exact Name of Registrant as Specified in its Charter)


Ohio	001-13337	34-1598949
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

39675 MacKenzie Drive, Suite 400, Novi, Michigan 48377

(Address of principal executive offices, and Zip Code)

(248) 489-9300

Registrant’s Telephone Number, Including Area Code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


o			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Shares, without par value	SRI	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).


			Emerging growth company			o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

ITEM 2.02 Results of Operations and Financial Condition.

On July 31, 2024, Stoneridge, Inc. (the “Company”) issued a press release announcing its results for the second quarter ended June 30, 2024. A copy of the press release is attached hereto as Exhibit 99.1. On August 1, 2024, members of the Company’s management will hold a second quarter 2024 earnings conference call to discuss the Company’s financial results and the presentation attached hereto as Exhibit 99.2, will accompany management’s comments.

The press release and earnings conference call presentation contain certain non-GAAP financial measures, including Adjusted Operating Income and Margin, Adjusted Net Income, Adjusted Earnings per Share (“Adjusted EPS”), Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Sales, Adjusted Income Before Tax, Adjusted Tax Benefit, Adjusted Net Debt, Adjusted Debt and Adjusted Cash (collectively, the “Non-GAAP Financial Measures”). Management believes that the presentation of the Non-GAAP Financial Measures used in the press release and earnings conference call presentation are useful to both management and investors in their analysis of the Company’s financial position, results of operations and expected results of operations because the Non-GAAP Financial Measures facilitate a period to period comparison of operating results by excluding significant unusual, non-recurring items in 2024 and 2023. For 2024, these items relate to after-tax and pre-tax business realignment costs and adjustments for debt compliance calculations. For 2023, these items relate to the sales from spot purchase recoveries, after-tax and pre-tax business realignment costs, pre-tax Brazilian indirect tax credits, net, pre-tax gain on disposal of fixed assets, pre-tax environmental remediation costs and adjustments for debt compliance calculations. These non-GAAP financial measures, however, should not be considered in isolation or as a substitute for the most comparable GAAP financial measures. Investors are cautioned that non-GAAP financial measures used by the Company may not be comparable to non-GAAP financial measures used by other companies. Adjusted Operating Income and Margin, Adjusted Net Income, Adjusted EPS, EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Sales, Adjusted Income Before Tax, Adjusted Tax Benefit, Adjusted Net Debt, Adjusted Debt and Adjusted Cash should not be considered a substitute for Operating Income, Net Income, Earnings per Share, Sales, Income Before Tax, Income Tax Benefit, Debt or Cash and Cash Equivalents prepared in accordance with GAAP.

ITEM 7.01 Regulation FD Disclosure.

The information set forth in Item 2.02 above is hereby incorporated herein by reference.

The information in this report, including the press release and the earnings conference call presentation furnished as Exhibits 99.1 and 99.2 hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. In addition, the exhibits furnished herewith contain statements intended as “forward-looking statements” that are subject to the cautionary statements about forward-looking statements set forth in such exhibits.

ITEM 9.01 Financial Statements and Exhibits.

(d) Exhibits


Exhibit No.			Description

99.1			Press release dated July 31 , 2024, announcing results for the second quarter ended June 30 , 2024

99.2			Second quarter 2024 results earnings conference call presentation materials, dated August 1 , 2024

104			Cover Page Interactive Data File (the Cover Page Interactive Data File is embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


			Stoneridge, Inc.

Date: July 31, 2024			/s/ Matthew R. Horvath
			Matthew R. Horvath Chief Financial Officer and Treasurer (Principal Financial Officer)

Exhibit 99.1

FOR IMMEDIATE RELEASE

Stoneridge Reports Second Quarter 2024 Results

Q2 Operating Performance Significantly Outperforms Previously Provided Expectations Driven by Strong Margin Expansion

2024 Second Quarter Results

•Sales of $237.1 million

•Gross profit of $53.7 million (22.7% of sales)

•Operating income of $3.4 million

•Adjusted operating income of $5.4 million (2.3% of sales)

•Adjusted EBITDA of $16.1 million (6.8% of sales)

•Earnings per share (“EPS”) of $0.10

•Adjusted EPS of $0.17

2024 Full-Year Guidance Update

•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)

•Revenue guidance of $940 million - $970 million (midpoint of $955 million)

•Increasing gross margin midpoint guidance by 50 basis points to reflect continued material cost improvement and operational excellence

•Gross margin guidance of 22.75% - 23.0%

•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

•Adjusted operating margin guidance of ~2.75%

•Adjusted EBITDA guidance of $58 million - $64 million (adjusted EBITDA margin of 6.2% - 6.6%)

•Adjusted EPS guidance of $0.18 - $0.28 (midpoint of $0.23)

NOVI, Mich. – July 31, 2024 – Stoneridge, Inc. (NYSE: SRI) today announced financial results for the second quarter ended June 30, 2024, with sales of $237.1 million and earnings per share of $0.10. Adjusted EPS was $0.17.

For the second quarter of 2024, Stoneridge reported gross profit of $53.7 million (22.7% of sales), an increase of 250 basis points relative to the first quarter of 2024. Operating income of $3.4 million resulted in adjusted operating income of $5.4 million (2.3% of sales), an increase of 210 basis points relative to the first quarter of 2024. Adjusted EBITDA was $16.1 million (6.8% of sales), an increase of 410 basis points relative to the first

quarter of 2024. Second quarter results were favorably impacted by non-operating foreign currency of approximately $2.3 million.

The exhibits attached hereto provide reconciliation detail on normalizing adjustments of non-GAAP financial measures used in this press release.

Jim Zizelman, president and chief executive officer, commented, “Our second quarter performance highlights our continued focus on improving the fundamentals of our business leading to significantly improved margins and significant outperformance relative to our prior expectations. This was primarily driven by continued material cost reductions, improved operational excellence, including reduced quality-related costs, and operating cost control as we continue to execute on the key initiatives we set at the beginning of the year. Our efforts to reduce material costs and control operating costs contributed to a 250 basis point improvement in gross margin and a 210 basis point improvement in adjusted operating margin over the first quarter. Including the benefit of non-operating FX income, adjusted EBITDA margin improved by 410 basis points over the first quarter to 6.8% of sales. We continue to improve the financial performance of the business while maintaining our robust approach to technology innovation and growth.”

Zizelman continued, “While we continue to drive operational performance improvement, we remain focused on flawless execution of the program launches that will drive strong growth going-forward. We are excited to announce that during the second quarter we began shipping our first MirrorEye OEM systems to Volvo for the launch of their FH Aero model in Europe. Similarly, our MirrorEye program with Peterbilt launched on Models 579 and 567 in North America in July. Both customers are focusing significant marketing efforts on MirrorEye as a differentiating product in the market. Initial customer feedback has been excellent. For example, Volvo recently announced one of their largest deals ever, in which they have received an order for 1,500 vehicles all of which will be equipped with MirrorEye to be delivered throughout 2024 and 2025. While we have experienced some volatility as new truck production and our programs ramp up, we expect volumes to continue to accelerate for the remainder of the year bringing take rates at least inline with our original expectations. We continue to expect MirrorEye to gain momentum in the second half of this year, as our first OEM program in Europe maintains its strong take rates and the two recently launched programs continue to ramp up in production.”

Zizelman concluded, “Our robust backlog continues to provide a strong foundation for our strategy focused on technologies and capabilities that will drive continued long-term growth. Last month, Volvo Bus announced they have selected Stoneridge to provide connected services and digital solutions using our artificial intelligence-based fuel advice system in a pilot program this year. This partnership is aligned with our ongoing focus on data services, software and AI to drive advanced system capabilities and expansion of our existing technology platforms and products to drive long-term profitable growth.”

Second Quarter in Review

Electronics sales of $153.5 million decreased by 6.4% relative to adjusted sales of the second quarter of 2023. This decrease was primarily driven by lower sales in both the European and North American commercial vehicle end markets and the impact of retroactive pricing recognized in the second quarter of 2023 of approximately $3.3 million. This is partially offset by higher sales in the European off-highway vehicle end market. Second quarter adjusted operating margin of 7.6% improved by 230 basis points relative to the adjusted operating margin of the second quarter of 2023, primarily due to lower direct material costs as a percentage of sales, as well as lower D&D and SG&A costs.

Control Devices sales of $80.9 million decreased by 13.1% relative to sales of the second quarter of 2023. This decrease was primarily due to lower sales in the North American passenger vehicle end market due to lower customer volumes and the expected wind-down of end-of-life programs as well as lower China automotive sales. Second quarter operating margin of 4.6% decreased by 130 basis points relative to the adjusted

operating margin of the second quarter of 2023, primarily due to lower contribution from lower sales, partially offset by lower direct material costs as a percentage of sales and lower D&D costs.

Stoneridge Brazil sales of $11.8 million decreased by $3.1 million relative to sales in the second quarter of 2023. This decrease was primarily due to lower sales in local OEM products, tracking devices and monitoring service fees. Second quarter operating performance of approximately break-even decreased by approximately $0.9 million relative to the second quarter of 2023, primarily due to lower contribution from lower sales volumes partially offset by lower direct material costs.

Relative to the first quarter of 2024, Electronics adjusted sales of $153.5 million, decreased by $2.6 million, or 1.7%. This slight decrease was driven primarily by the unfavorable impact of foreign currency of approximately $2.2 million. Second quarter adjusted operating margin increased by 310 basis points relative to the first quarter of 2024, primarily due to material cost improvements, lower quality-related costs and lower engineering costs.

Relative to the first quarter of 2024, Control Devices sales increased by 3.7%. This increase was primarily due to higher sales in the North American passenger vehicle end market as well as higher commercial vehicle sales in China. Second quarter adjusted operating margin increased by 180 basis points relative to the first quarter of 2024, primarily due to benefits recognized from completed negotiations related to price and volume, improved operational execution and lower SG&A and D&D costs as a result of operating cost control efforts.

Relative to the first quarter of 2024, Stoneridge Brazil sales decreased by $0.4 million. This was primarily the result of the unfavorable foreign currency impact of approximately $0.6 million. Second quarter operating performance decreased by $0.2 million relative to the first quarter of 2024, primarily due to unfavorable foreign currency impact of approximately $0.2 million.

Cash and Debt Balances

As of June 30, 2024, Stoneridge had compliance net debt of $161.4 million resulting in a net debt to trailing twelve-month EBITDA compliance leverage ratio of 2.89x, an improvement of 0.24x compared to December 31, 2023.

The Company continues to focus on both operating performance and working capital improvement to drive cash performance, particularly related to inventory reduction. During the first half of the year, inventory balances declined by $9.0 million. The Company expects to continue to reduce inventory balances throughout the year. The Company expects a net debt to EBITDA ratio for compliance purposes of approximately 2.5x by the end of 2024.

2024 Outlook

The Company is updating its previously provided full-year 2024 guidance ranges including sales guidance of $940 million to $970 million, gross margin guidance of 22.75% to 23.0%, adjusted operating margin guidance of approximately 2.75%, adjusted earnings per share guidance of $0.18 to $0.28 and adjusted EBITDA guidance of $58 million to $64 million, or 6.2% to 6.6% of sales.

Matt Horvath, chief financial officer, commented, “We are updating our full-year 2024 revenue guidance to reflect updated foreign currency rates, updated OEM production volumes and current expectations for non-OEM and customer demand-based products. This results in a midpoint of $955 million for the year. Due primarily to our year-to-date performance, expectation of continued reduction in material costs and a continued focus on operational excellence, we are increasing our full-year gross margin expectations by 50 basis points. We are expecting improved gross margin and operating cost control to significantly offset the decremental impact of reduced revenue. As a result, we are reducing our adjusted EBITDA margin midpoint guidance by 30 basis points, or $61 million of adjusted EBITDA. This results in a 130 basis point margin improvement and 27% growth in adjusted EBITDA over 2023. Finally, we are reducing our full-year adjusted EPS guidance to a

midpoint of $0.23 to reflect the lower contribution from reduced sales partially offset by improved operating performance.”

Horvath, concluded, “By continuing to focus on improving the fundamentals of our business, we drove significant margin expansion across our business in the second quarter. Additionally, we continue to focus on inventory reduction to improve our cash position and reduce our leverage profile. We expect to continue those efforts in the second half of the year to help drive financial performance. Stoneridge remains well positioned to outpace our underlying end market growth and drive significant earnings expansion going forward.”

Conference Call on the Web

A live Internet broadcast of Stoneridge’s conference call regarding 2024 second quarter results can be accessed at 9:00 a.m. Eastern Time on Thursday, August 1, 2024, at www.stoneridge.com, which will also offer a webcast replay.

About Stoneridge, Inc.

Stoneridge, Inc., headquartered in Novi, Michigan, is a global designer and manufacturer of highly engineered electrical and electronic systems, components and modules for the automotive, commercial, off-highway and agricultural vehicle markets. Additional information about Stoneridge can be found at www.stoneridge.com.

Forward-Looking Statements

Statements in this press release contain “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. These statements appear in a number of places in this report and may include statements regarding the intent, belief or current expectations of the Company, with respect to, among other things, our (i) future product and facility expansion, (ii) acquisition strategy, (iii) investments and new product development, (iv) growth opportunities related to awarded business, and (v) operational expectations. Forward-looking statements may be identified by the words “will,” “may,” “should,” “designed to,” “believes,” “plans,” “projects,” “intends,” “expects,” “estimates,” “anticipates,” “continue,” and similar words and expressions. The forward-looking statements are subject to risks and uncertainties that could cause actual events or results to differ materially from those expressed in or implied by the statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, among other factors:

•the ability of our suppliers to supply us with parts and components at competitive prices on a timely basis, including the impact of potential tariffs and trade considerations on their operations and output;

•fluctuations in the cost and availability of key materials and components (including semiconductors, printed circuit boards, resin, aluminum, steel and copper) and our ability to offset cost increases through negotiated price increases with our customers or other cost reduction actions, as necessary;

•global economic trends, competition and geopolitical risks, including impacts from ongoing or potential global conflicts and any related sanctions and other measures, or an escalation of sanctions, tariffs or other trade tensions between the U.S. and other countries;

•our ability to achieve cost reductions that offset or exceed customer-mandated selling price reductions;

•the reduced purchases, loss or bankruptcy of a major customer or supplier;

•the costs and timing of business realignment, facility closures or similar actions;

•a significant change in automotive, commercial, off-highway or agricultural vehicle production;

•competitive market conditions and resulting effects on sales and pricing;

•foreign currency fluctuations and our ability to manage those impacts;

•customer acceptance of new products;

•our ability to successfully launch/produce products for awarded business;

•adverse changes in laws, government regulations or market conditions affecting our products, our suppliers, or our customers’ products;

•our ability to protect our intellectual property and successfully defend against assertions made against us;

•liabilities arising from warranty claims, product recall or field actions, product liability and legal proceedings to which we are or may become a party, or the impact of product recall or field actions on our customers;

•labor disruptions at our facilities, or at any of our significant customers or suppliers;

•business disruptions due to natural disasters or other disasters outside of our control;

•the amount of our indebtedness and the restrictive covenants contained in the agreements governing our indebtedness, including our revolving Credit Facility;

•capital availability or costs, including changes in interest rates;

•the failure to achieve the successful integration of any acquired company or business;

•risks related to a failure of our information technology systems and networks, and risks associated with current and emerging technology threats and damage from computer viruses, unauthorized access, cyber-attack and other similar disruptions; and

•the items described in Part I, Item IA (“Risk Factors”) in our Form 10-K filed with the SEC.

The forward-looking statements contained herein represent our estimates only as of the date of this release and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, whether to reflect actual results, changes in assumptions, changes in other factors affecting such forward-looking statements or otherwise.

Use of Non-GAAP Financial Information

This press release contains information about the Company’s financial results that is not presented in accordance with accounting principles generally accepted in the United States (“GAAP”). Such non-GAAP financial measures are reconciled to their closest GAAP financial measures at the end of this press release. The provision of these non-GAAP financial measures for 2024 and 2023 is not intended to indicate that Stoneridge is explicitly or implicitly providing projections on those non-GAAP financial measures, and actual results for such measures are likely to vary from those presented. The reconciliations include all information reasonably available to the Company at the date of this press release and the adjustments that management can reasonably predict.

Management believes the non-GAAP financial measures used in this press release are useful to both management and investors in their analysis of the Company’s financial position and results of operations. In particular, management believes that adjusted sales, adjusted operating income and margin, adjusted income (loss) before tax, adjusted income tax expense (benefit), adjusted net income, adjusted EPS, EBITDA, adjusted EBITDA, adjusted net debt, adjusted debt and adjusted cash are useful measures in assessing the Company’s financial performance by excluding certain items that are not indicative of the Company’s core operating performance or that may obscure trends useful in evaluating the Company’s continuing operating activities. Management also believes that these measures are useful to both management and investors in their analysis of the Company’s results of operations and provide improved comparability between fiscal periods.

Adjusted sales, adjusted operating income and margin, adjusted income (loss) before tax, adjusted income tax expense (benefit), adjusted net income, adjusted EPS, EBITDA, adjusted EBITDA, adjusted net debt, adjusted debt and adjusted cash should not be considered in isolation or as a substitute for sales, operating income, income (loss) before tax, income tax expense (benefit), net income, EPS, debt, cash and cash equivalents, cash provided by operating activities or other income statement or cash flow statement data prepared in accordance with GAAP.

For more information, contact Kelly K. Harvey, Director Investor Relations (Kelly.Harvey@Stoneridge.com).

CONSOLIDATED BALANCE SHEETS


(in thousands)	June 30, 2024		December 31, 2023
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	42,112	$	40,841
Accounts receivable, less reserves of $620 and $1,058, respectively	168,215		166,545
Inventories, net	178,749		187,758
Prepaid expenses and other current assets	32,882		34,246
Total current assets	421,958		429,390
Long-term assets:
Property, plant and equipment, net	103,061		110,126
Intangible assets, net	43,586		47,314
Goodwill	34,244		35,295
Operating lease right-of-use asset	8,722		10,795
Investments and other long-term assets, net	55,080		46,980
Total long-term assets	244,693		250,510
Total assets	$	666,651	$	679,900

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:

Current portion of debt	$	2,064	$	2,113
Accounts payable	108,085		111,925
Accrued expenses and other current liabilities	76,098		64,203
Total current liabilities	186,247		178,241
Long-term liabilities:
Revolving credit facility	187,417		189,346
Deferred income taxes	6,276		7,224
Operating lease long-term liability	5,814		7,684
Other long-term liabilities	10,446		9,688
Total long-term liabilities	209,953		213,942
Shareholders' equity:
Preferred Shares, without par value, 5,000 shares authorized, none issued	—		—
Common Shares, without par value, 60,000 shares authorized, 28,966 and 28,966 shares issued and 27,679 and 27,549 shares outstanding at June 30, 2024 and December 31, 2023, respectively, with no stated value	—		—
Additional paid-in capital	224,599		227,340
Common Shares held in treasury, 1,287 and 1,417 shares at June 30, 2024 and December 31, 2023, respectively, at cost	(39,066)		(43,344)
Retained earnings	193,169		196,509
Accumulated other comprehensive loss	(108,251)		(92,788)
Total shareholders' equity	270,451		287,717
Total liabilities and shareholders' equity	$	666,651	$	679,900

CONSOLIDATED STATEMENTS OF OPERATIONS


	Three months ended June 30,				Six months ended June 30,
(in thousands, except per share data)	2024		2023		2024		2023

Net sales	$	237,059	$	266,814	$	476,216	$	508,139
Costs and expenses:
Cost of goods sold	183,319		206,326		374,119		404,849
Selling, general and administrative	31,876		33,491		62,299		63,354
Design and development	18,457		22,666		36,060		39,634
Operating income	3,407		4,331		3,738		302
Interest expense, net	3,801		3,120		7,435		5,866
Equity in loss of investee	52		329		329		500
Other (income) expense, net	(2,296)		2,387		(260)		3,535
Income (loss) before income taxes	1,850		(1,505)		(3,766)		(9,599)
(Benefit) provision for income taxes	(936)		1,487		(426)		779
Net income (loss)	$	2,786	$	(2,992)	$	(3,340)	$	(10,378)

Income (loss) per share:
Basic	$	0.10	$	(0.11)	$	(0.12)	$	(0.38)
Diluted	$	0.10	$	(0.11)	$	(0.12)	$	(0.38)

Weighted-average shares outstanding:
Basic	27,611		27,452		27,570		27,400
Diluted	27,853		27,452		27,570		27,400

CONSOLIDATED STATEMENTS OF CASH FLOWS


Six months ended June 30, (in thousands)	2024		2023

OPERATING ACTIVITIES:
Net loss	$	(3,340)	$	(10,378)
Adjustments to reconcile net loss to net cash provided by (used for) operating activities:
Depreciation	13,054		13,161
Amortization, including accretion and write-off of deferred financing costs	4,440		4,004
Deferred income taxes	(7,004)		(3,782)
Loss of equity method investee	329		500
Loss (gain) on sale of fixed assets	258		(854)
Share-based compensation expense	2,207		1,271
Excess tax deficiency related to share-based compensation expense	238		66




Changes in operating assets and liabilities:
Accounts receivable, net	(6,094)		(28,100)
Inventories, net	3,438		(23,142)
Prepaid expenses and other assets	(1,038)		3,313
Accounts payable	(849)		27,069
Accrued expenses and other liabilities	12,123		12,184
Net cash provided by (used for) operating activities	17,762		(4,688)

INVESTING ACTIVITIES:
Capital expenditures, including intangibles	(12,920)		(18,025)
Proceeds from sale of fixed assets	222		1,729



Investment in venture capital fund, net	(260)		—
Net cash used for investing activities	(12,958)		(16,296)

FINANCING ACTIVITIES:
Revolving credit facility borrowings	57,000		42,000
Revolving credit facility payments	(58,000)		(38,068)
Proceeds from issuance of debt	17,677		16,402
Repayments of debt	(17,690)		(18,086)

Repurchase of Common Shares to satisfy employee tax withholding	(666)		(1,325)
Net cash (used for) provided by financing activities	(1,679)		923

Effect of exchange rate changes on cash and cash equivalents	(1,854)		(32)
Net change in cash and cash equivalents	1,271		(20,093)
Cash and cash equivalents at beginning of period	40,841		54,798

Cash and cash equivalents at end of period	$	42,112	$	34,705

Supplemental disclosure of cash flow information:
Cash paid for interest, net	$	8,003	$	5,622
Cash paid for income taxes, net	$	4,372	$	5,927

Regulation G Non-GAAP Financial Measure Reconciliations

Exhibit 1 - Reconciliation of Adjusted EPS


Reconciliation of Q2 2024 Adjusted EPS
(USD in millions, except EPS)	Q2 2024		Q2 2024 EPS
Net Income	$	2.8	$	0.10

Add: After-Tax Business Realignment Costs	1.9		0.07







Adjusted Net Income	$	4.7	$	0.17

Exhibit 2 – Reconciliation of Adjusted EBITDA



(USD in millions)	Q1 2023		Q2 2023		Q3 2023		Q4 2023		Q1 2024		Q2 2024
Income (Loss) Before Tax	$	(8.1)	$	(1.5)	$	4.4	$	3.2	$	(5.6)	$	1.9

Interest expense, net	2.7		3.1		3.3		3.8		3.6		3.8
Depreciation and amortization	8.3		8.4		8.5		8.4		8.6		8.5
EBITDA	$	3.0	$	10.0	$	16.2	$	15.5	$	6.6	$	14.2

Add: Pre-Tax Business Realignment Costs	1.3		1.9		1.2		0.1		—		1.9
Less: Pre-Tax Gain on Disposal of Fixed Assets	(0.8)		—		—		—		—		—
Add: Pre-Tax Environmental Remediation Costs	0.1		—		—		—		—		—
Add: Pre-Tax Brazilian Indirect Tax Credits, Net	—		—		(0.5)		—		—		—











Adjusted EBITDA	$	3.6	$	11.9	$	17.0	$	15.6	$	6.6	$	16.1

Exhibit 3 - Reconciliation of Adjusted Operating Income



(USD in millions)	Q1 2024		Q2 2024
Operating Income	$	0.3	$	3.4

Add: Pre-Tax Business Realignment Costs	—		1.9














Adjusted Operating Income	$	0.3	$	5.4

Exhibit 4 – Segment Adjusted Operating Income

Reconciliation of Control Devices Adjusted Operating Income



(USD in millions)	Q2 2023		Q1 2024		Q2 2024
Control Devices Operating Income	$	5.1	$	2.2	$	3.7



Add: Pre-Tax Business Realignment Costs	0.4		—		—







Control Devices Adjusted Operating Income	$	5.5	$	2.2	$	3.7

Reconciliation of Electronics Adjusted Operating Income



(USD in millions)	Q2 2023		Q1 2024		Q2 2024
Electronics Operating Income	$	7.4	$	7.1	$	9.8

Add: Pre-Tax Business Realignment Costs	1.3		—		1.9









Electronics Adjusted Operating Income	$	8.8	$	7.1	$	11.7

Exhibit 5 – Reconciliation of Electronics Adjusted Sales



(USD in millions)	Q2 2023		Q1 2024		Q2 2024
Electronics Sales	$	168.3	$	156.1	$	153.5

Less: Sales from Spot Purchases Recoveries	(4.4)		—		—









Electronics Adjusted Sales	$	163.9	$	156.1	$	153.5

Exhibit 6 – Reconciliation of Adjusted Tax Rate


Reconciliation of Q2 2024 Adjusted Tax Rate
(USD in millions)	Q2 2024		Tax Rate
Income Before Tax	$	1.9

Add: Pre-Tax Business Realignment Costs	1.9




Adjusted Income Before Tax	$	3.8

Income Tax Benefit	(0.9)		(50.6)	%

Add: Tax Impact from Pre-Tax Adjustments	-

Adjusted Income Tax Benefit on Adjusted Income Before Tax	$	(0.9)	(24.3)	%

Exhibit 7 – Reconciliation of Compliance Leverage Ratio


Reconciliation of Adjusted EBITDA for Compliance Calculation
(USD in millions)	Q1 2023		Q2 2023		Q3 2023		Q4 2023		Q1 2024		Q2 2024
Income (Loss) Before Tax	$	(8.1)	$	(1.5)	$	4.4	3.2		(5.6)		1.9
Interest Expense, net	2.7		3.1		3.3		3.8		3.6		3.8
Depreciation and Amortization	8.3		8.4		8.5		8.4		8.6		8.5
EBITDA	$	3.0	$	10.0	$	16.2	$	15.5	$	6.6	$	14.2

Compliance adjustments:
Add: Non-Cash Impairment Charges and Write-offs or Write Downs	—		—		—		—		0.2		—
Add: Adjustments from Foreign Currency Impact	1.4		3.1		0.4		(0.7)		2.2		(2.4)
Add: Extraordinary, Non-recurring or Unusual Items	0.2		—		0.5		—		—		—
Add: Cash Restructuring Charges	1.4		0.5		0.1		0.3		1.6		0.5
Add: Charges for Transactions, Amendments, and Refinances	—		—		—		0.3		—		—
Add: Adjustment to Autotech Fund II Investment	0.2		0.3		0.1		(0.1)		0.3		0.1
Adjusted EBITDA (Compliance)	$	6.1	$	13.9	$	17.4	$	15.3	$	10.9	$	12.3

Adjusted TTM EBITDA (Compliance)							$	52.7	$	57.5	$	55.9


Reconciliation of Adjusted Cash for Compliance Calculation
(USD in millions)	Q4 2023		Q1 2024		Q2 2024
Total Cash and Cash Equivalents	$	40.8	$	48.4	$	42.1

Less: 35% of Cash in Foreign Locations	(12.8)		(14.8)		(12.5)
Total Adjusted Cash (Compliance)	$	28.0	$	33.6	$	29.6


Reconciliation of Adjusted Debt for Compliance Calculation
(USD in millions)	Q4 2023		Q1 2024		Q2 2024
Total Debt	$	191.5	$	196.5	$	189.5


Outstanding Letters of Credit	1.6		1.6		1.6
Total Adjusted Debt (Compliance)	$	193.0	$	198.1	$	191.1

Adjusted Net Debt (Compliance)	$	165.0	$	164.5	$	161.4
Compliance Leverage Ratio (Net Debt / TTM EBITDA)	3.13x		2.86x		2.89x

stoneridge.com © 2024 Q2 2024 Results 2 Forward-Looking Statements Statements in this presentation that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied by the statements. Important factors that may cause actual results to differ materially from those in the forward-looking statements include, among other factors, the ability of our suppliers to supply us parts and components at competitive prices on a timely basis, including the impact of potential tariffs and trade considerations on their operations and output; fluctuations in the cost and availability of key materials (including semiconductors, printed circuit boards, resin, aluminum, steel and copper) and components and our ability to offset cost increases through negotiated price increases with our customers or other cost actions, as necessary; global economic trends, competition and geopolitical risks, including impacts from ongoing or potential conflicts and any related sanctions and other measures, or an escalation of sanctions, tariffs or other trade tensions between the U.S. and other countries; our ability to achieve cost reductions that offset or exceed customer-mandated selling price reductions; the reduced purchases, loss or bankruptcy of a major customer or supplier; the costs and timing of business realignment, facility closures or similar actions; a significant change in automotive, commercial, off-highway or agricultural vehicle production; competitive market conditions and resulting effects on sales and pricing; foreign currency fluctuations and our ability to manage those impacts; customer acceptance of new products; our ability to successfully launch/produce products for awarded business; adverse changes in laws, government regulations or market conditions, affecting our products, our suppliers, or our customers’ products; labor disruptions at Stoneridge’s facilities or at any of Stoneridge significant customers or suppliers; the amount of Stoneridge’s indebtedness and the restrictive covenants contained in the agreements governing its indebtedness, including its revolving Credit Facility; capital availability or costs, including changes in interest rates; the occurrence or non-occurrence of circumstances beyond Stoneridge’s control; and the items described in “Risk Factors” and other uncertainties or risks discussed in Stoneridge’s periodic and current reports filed with the Securities and Exchange Commission. Important factors that could cause the performance of the commercial vehicle and automotive industry to differ materially from those in the forward-looking statements include factors such as (1) continued economic instability or poor economic conditions in the United States and global markets, (2) changes in economic conditions, housing prices, foreign currency exchange rates, commodity prices, including shortages of and increases or volatility in the price of oil, (3) changes in laws and regulations, (4) the state of the credit markets, (5) political stability, (6) international conflicts and (7) the occurrence of force majeure events. These factors should not be construed as exhaustive and should be considered with the other cautionary statements in Stoneridge’s filings with the Securities and Exchange Commission. Forward-looking statements are not guarantees of future performance; Stoneridge’s actual results of operations, financial condition and liquidity, and the development of the industry in which Stoneridge operates may differ materially from those described in or suggested by the forward-looking statements contained in this presentation. In addition, even if Stoneridge’s results of operations, financial condition and liquidity, and the development of the industry in which Stoneridge operates are consistent with the forward-looking statements contained in this presentation, those results or developments may not be indicative of results or developments in subsequent periods. This presentation contains time-sensitive information that reflects management’s best analysis only as of the date of this presentation. Any forward-looking statements in this presentation speak only as of the date of this presentation, and Stoneridge undertakes no obligation to update such statements. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data Stoneridge does not undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. Rounding Disclosure: There may be slight immaterial differences between figures represented in our public filings compared to what is shown in this presentation. The differences are the result of rounding due to the representation of values in millions rather than thousands in public filings.

stoneridge.com © 2024 Q2 2024 Results 3 Non-GAAP Financial Measures This presentation contains information about the Company’s financial results that is not presented in accordance with accounting principles generally accepted in the United States (“GAAP”). Such non-GAAP financial measures are reconciled to their closest GAAP financial measures at the end of this presentation. The provision of these non-GAAP financial measures for 2024 and 2023 is not intended to indicate that Stoneridge is explicitly or implicitly providing projections on those non-GAAP financial measures, and actual results for such measures are likely to vary from those presented. The reconciliations include all information reasonably available to the Company at the date of this presentation and the adjustments that management can reasonably predict. Management believes the non-GAAP financial measures used in this presentation are useful to both management and investors in their analysis of the Company’s financial position and results of operations. In particular, management believes that adjusted operating income and margin, adjusted income (loss) before tax, adjusted net income (loss), adjusted earnings (loss) per share, adjusted EBITDA, adjusted EBITDA margin, adjusted tax expense, adjusted tax rate, adjusted net debt and adjusted cash are useful measures in assessing the Company’s financial performance by excluding certain items that are not indicative of the Company’s core operating performance or that may obscure trends useful in evaluating the Company’s continuing operating activities. Management also believes that these measures are useful to both management and investors in their analysis of the Company’s results of operations and provide improved comparability between fiscal periods. Adjusted operating income and margin, adjusted income (loss) before tax, adjusted net income (loss), adjusted earnings (loss) per share, adjusted EBITDA, adjusted EBITDA margin, adjusted tax expense, adjusted tax rate, adjusted net debt and adjusted cash should not be considered in isolation or as a substitute operating income, income (loss) before tax, net income (loss), earnings per share, tax expense, tax rate, debt, cash and cash equivalents, cash provided by operating activities or other income statement or cash flow statement data prepared in accordance with GAAP. Q2 2024 Reported Q2 2024 Adjusted -$237.1 million Sales -$53.7 million 22.7% Gross Profit Margin $5.4 million 2.3% $3.4 million 1.4% Operating Income Margin $0.17$0.10EPS $16.1 million 6.8% -EBITDA Margin

stoneridge.com © 2024 Q2 2024 Results • Q2 Adjusted EPS of $0.17 improved by $0.39 vs. Q1 2024 • Q2 Adjusted EBITDA margin of 6.8% improved by ~410 bps vs. Q1 2024 • Material cost improvements, operating cost control and favorable non-operating FX impacts drove improvement • Q2 Gross margin of 22.7% improved 250 bps vs. Q1 2024 • Q2 Adjusted operating margin of 2.3% improved 210 bps vs. Q1 2024 • MirrorEye OEM program with Volvo launched on the FH Aero truck in Europe • Announced partnership with Volvo Bus for a pilot program to provide data and AI-based fuel advice system • Aligned with our continued focus on data services, software and AI to drive advanced system capabilities and expansion of our existing technology platforms and products to drive long-term profitable growth Overview of Achievements Adj. EBITDA / Margin $237.1M $16.1M / 6.8% $0.17 +410 bps vs. Q1 2024* $0.39 Growth vs. Q1 2024* Sales Adj. EPS Q2 2024 Quarterly Results *Q2 2024 results were adjusted for non-recurring items. There were no adjustments to Q1 2024 results. Refer to US GAAP Reconciliations for reconciliations to US GAAP amounts. 4

5stoneridge.com © 2024 Q2 2024 Results Sales Gross Profit Adjusted Operating Income* Adjusted EBITDA* Q1 2024 vs. Q2 2024 +250 bps +210 bps +410 bps Second quarter operating performance improved significantly vs. Q1 driven by continued improvement in material costs, operational excellence and focused cost control Financial Summary Q2 2024 Key Performance Drivers • Excluding the unfavorable impact of foreign currency on sales of $2.8 million, sales were approximately inline with Q1 2024 • Higher gross margin primarily driven by material cost improvements and operational excellence, including lower quality-related costs • Operating performance driven by gross margin improvement and lower D&D due in part to higher customer reimbursements during the quarter • Favorable FX rates drove a non-operating benefit of $2.3 million in Q2 including the capitalization of certain intercompany loans at favorable currency rates in Q2 -1.5% -1.0%0.8% *Q2 2024 results were adjusted for non-recurring items. There were no adjustments to Q1 2024 results. Refer to US GAAP Reconciliations for reconciliations to US GAAP amounts. $239.2 $237.1 Q1 2024 Q2 2024 $0.3 $5.4 Q1 2024 Q2 2024 0.1% 2.3% $6.6 $16.1 Q1 2024 Q2 2024 6.8% 2.8% $48.4 $53.7 Q1 2024 Q2 2024 20.2% 22.7% $239.9 Ex. FX

6stoneridge.com © 2024 Q2 2024 Results Organizational Announcement • Most recently, Noblet served as the senior vice president EMEA Region within ZF’s Commercial Vehicle Solutions division where she led profitability for the region, including strategy, planning, sales, procurement, and manufacturing • Prior to this, Noblet spent nearly two decades at WABCO, where she held progressively challenging roles across operations, sourcing and purchasing, project management, quality, Six Sigma Lean, and change management • Following WABCO’s acquisition by ZF in 2020, Noblet seamlessly transitioned into various leadership positions within ZF, focusing on integration, quality assurance and P&L ownership • Noblet will be responsible for leading the Electronics Division including financial performance, product development, business strategy and technical vision Natalia Noblet appointed as President of Electronics, effective September 1, 2024

stoneridge.com © 2024 Q2 2024 Results MirrorEye CMS Updates • Launched on Volvo’s FH Aero Model in Europe in Q2 2024 • 2024 OEM orders have shown some volatility as program and truck production continue to ramp up • Exceptional initial customer feedback • We expect take rates to at least remain consistent with previous forecasts once the program ramps up (~45%) • Peterbilt program launched on Models 579 and 567 in North America in July • Peterbilt has heavily marketed the system emphasizing its core features, including maximizing driver visibility and safety Commercial Updates Digital Services Updates Volvo Bus Partnership • Offering Stoneridge’s data and artificial intelligence fuel advice solution to Volvo Buses’ customers in selected markets in pilot program during 2024 • Solution utilizes vehicle generated data and applies artificial intelligence (AI) to proactively support operators to reduce fuel consumption • Partnership enables efficient and sustainable mobility 7

stoneridge.com © 2024 Q2 2024 Results 8 Artificial Intelligence and Advanced Software Algorithms • Dedicated team of engineers directly involved in AI-based advanced development and deployment • Applications across both new and existing products • Deploying AI-based algorithms for object and pedestrian detection to improve safety • Deploying analytics to better predict the path of a commercial vehicle trailer in both forward and reverse directions • Developing AI-based products including automatic event recordings, driver behavior analytics, trailer hitch applications and broader perception sensor fusion opportunities (camera, radar, lidar) • Ability to cost-effectively invest in these advanced capabilities facilitated by the rotation of our global footprint and a more cost- effective current structure Furthering technology capabilities and expanding growth opportunities in ADAS applications Driving Growth Advanced Software & AI Commercial Vehicle Driver Side View Unsafe to Maneuver Safe to Maneuver

10stoneridge.com © 2024 Q2 2024 Results Q2 2024 Financial Highlights Q2 2024 Reported -$237.1 million Sales - $53.7 million 22.7% Gross Profit Margin $5.4 million 2.3% $3.4 million 1.4% Operating Income Margin $0.17$0.10EPS $16.1 million 6.8% - EBITDA Margin Key Performance Drivers • Improved gross margin performance primarily driven by material cost improvements and continued focus on operational excellence • Operating income favorably impacted by gross margin improvements and continued control of operating expenses • Favorable FX rates drove $2.3 million of non-operating benefit in Q2 including the capitalization of certain intercompany loans at favorable currency rates • Inventory reduced by $9.0 million in the first half of 2024 Strong Q2 performance resulted in margin expansion and significant earnings growth Q2 2024 Adjusted

11stoneridge.com © 2024 Q2 2024 Results $2.2 $3.7 Q1 2024 Q2 2024 Sales Operating Income $’s in USD Millions Continued margin expansion driven by focus on operational excellence and operating cost control Control Devices Performance 2.2% 2.2% Q1 2024 vs Q2 2024 +180 bps $78.0 $80.9 Q1 2024 Q2 2024 2.8% 4.6% +3.7% Q2 2024 Financial Results • Higher sales vs. Q1 2024 primarily due to increased sales in the North America passenger vehicle end market • Q2 2024 operating margin increased by 180 bps vs. Q1 2024 primarily due to benefits recognized from completed price and low-volume claim negotiations, improvement in operational execution and continued operating cost control

12stoneridge.com © 2024 Q2 2024 Results Sales Adj. Operating Income* Q1 2024 vs Q2 2024 $’s in USD Millions Significant and continued margin expansion in Q2 Electronics Performance Q2 2024 Financial Results • Excluding the unfavorable impact of foreign currency of ~$2.2 million, Q2 sales were approximately in-line with Q1 2024 • Lower European commercial vehicle sales were offset by higher sales in the European off-highway and North American commercial vehicle end markets • Q2 operating margin expansion of ~310 bps vs. Q1 2024 primarily due to material cost improvement, lower quality-related costs and lower engineering expenses +310 bps $156.1 $153.5 Q1 2024 Q2 2024 $155.7 Ex. FX $7.1 $11.7 4.5% 7.6% Q1 2024 Q2 2024 Note: FX impact to adj operating income rounded to $0.0 million. *Q2 2024 results were adjusted for non-recurring items. There were no adjustments made to Q1 2024 reported results. Refer to US GAAP Reconciliations for reconciliations to US GAAP amounts.

13stoneridge.com © 2024 Q2 2024 Results Sales Operating Income (Loss) Q1 2024 vs Q2 2024 $’s in USD Millions Focus remains on growth in local OEM business and engineering capabilities to support global business Stoneridge Brazil Performance $12.2 $11.8 Q1 2024 Q2 2024 Q2 2024 Financial Results • Excluding the unfavorable impact of FX of ~$0.6 million, Q2 sales slightly improved vs. Q1 2024 • Excluding the unfavorable impact of foreign currency, operating income was approximately inline with Q1 2024 $12.5 Ex. FX +2.0% Ex. FX $0.2 $(0.0) 1.7% Q1 2024 Q2 2024 $0.2 Ex. FX 1.4% Ex. FX -0.3%

stoneridge.com © 2024 Q2 2024 Results 2024 Full-Year Revenue & EBITDA Guidance Update Revenue Guidance Drivers • Production volume headwinds on OEM programs primarily driven by continued macroeconomic pressure on commercial vehicle end market and reduced demand in North America passenger vehicle programs • Range of potential volumes for non-OEM and customer demand- based products considering timing, market adoption and macroeconomic pressures EBITDA Margin Guidance Drivers • Impact of reduced revenue on EBITDA estimated at contribution margins of 25-30% • Improved gross margin expectations driven by material cost improvements and continued focus on operational efficiencies • Improved SG&A expectations due to cost control on discretionary spending $61M $67M ~($9M) $’s in USD Millions $955M $1,000M ~($12M) ~($18M) Full-Year 2024 Revenue Guidance Midpoint Walk Full-Year 2024 EBITDA Guidance Midpoint Walk $970M $58M Continued improvement from focus on key initiatives +$3M At average expected contribution margin of 27.5% ~($15M) 14

stoneridge.com © 2024 Q2 2024 Results 2024 Full-Year Guidance Update Guidance Range Updated Midpoint Change ($45.0) million$940.0 million - $970.0 million Sales +50 bps22.75% - 23.0%Gross Margin (25) bps~2.75%Adj. Operating Margin ($0.12)$0.18 - $0.28Adj. EPS ($6) million ~(30) bps $58 million - $64 million 6.2% - 6.6% Adj. EBITDA Margin 15 Full-Year 2024 Guidance Update • Updating full-year 2024 guidance to reflect current expectations and market conditions • Reducing revenue midpoint by $45 million to reflect updated FX rates, updated OEM production volumes and potential volatility in non-OEM and customer demand- based products • Increasing full-year gross margin midpoint by 50 bps to reflect expectation of continued material cost and manufacturing performance improvement • Updating adjusted operating and EBITDA margin expectations to reflect reduced fixed cost leverage on lower sales expectations partially offset by improved gross margin • Expected tax expense of $5 million to $6 million based on current expectations for jurisdictional earnings

16stoneridge.com © 2024 Q2 2024 Results Key Priorities Update Q2 2024 YTD Summary • 2-3x Market Growth  Full-year revenue guidance midpoint implies 3.6% outperformance vs. weighted-average OEM end markets which are expected to decline by (4.3)% • Gross Margin Expansion – Targeting 140 bps gross margin improvement in 2024 vs. 2023  Updated target to 190 basis point improvement in 2024 vs. 2023 based on midpoint guidance • Leverage on Structural Costs –Targeting 170 bps EBITDA margin improvement in 2024 vs. 2023  160 Basis points adjusted EBITDA margin improvement year-to-date over the first half of 2023 • Efficient Cash Generation – Focus on efficient cash generation and targeted actions to reduce inventory levels at least aligned with historical turns  Inventory reduced by $9.0 million in the first half of 2024  Compliance leverage ratio improved by 0.24x in the first half of the year to 2.89x • Capital Investment – Targeting ~$40 million of capital expenditures in 2024 focused on supporting organic growth initiatives  Remain on track to both meet our organic growth targets and our capital expenditure targets for 2024 We are executing on our key priorities for 2024 **Based on IHS production data July 2024 LVP and Q2 2024 MHCV 2-3x Growth in underlying markets Gross margin expansion through enterprise-wide operational excellence Efficient cash generation Cost control to achieve fixed cost leverage with growth Invest capital (organic or inorganic) to drive growth Shareholder Value Creation *2023 revenue and gross margin were adjusted for non-recurring items. Refer to US GAAP Reconciliations for reconciliations to US GAAP amounts.

stoneridge.com © 2024 Appendix 18 Balance Sheets December 31, 2023 June 30, 2024(in thousands) (Unaudited) ASSETS Current assets: $ 40,841$ 42,112Cash and cash equivalents 166,545168,215Accounts receivable, less reserves of $620 and $1,058, respectively 187,758178,749Inventories, net 34,24632,882Prepaid expenses and other current assets 429,390421,958Total current assets Long-term assets: 110,126103,061Property, plant and equipment, net 47,31443,586Intangible assets, net 35,29534,244Goodwill 10,7958,722Operating lease right-of-use asset 46,98055,080Investments and other long-term assets, net 250,510244,693Total long-term assets $ 679,900$ 666,651Total assets LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: $ 2,113$ 2,064Current portion of debt 111,925108,085Accounts payable 64,20376,098Accrued expenses and other current liabilities 178,241186,247Total current liabilities Long-term liabilities: 189,346187,417Revolving credit facility 7,2246,276Deferred income taxes 7,6845,814Operating lease long-term liability 9,68810,446Other long-term liabilities 213,942209,953Total long-term liabilities Shareholders' equity: ——Preferred Shares, without par value, 5,000 shares authorized, none issued —— Common Shares, without par value, 60,000 shares authorized, 28,966 and 28,966 shares issued and 27,679 and 27,549 shares outstanding at June 30, 2024 and December 31, 2023, respectively, with no stated value 227,340224,599Additional paid-in capital (43,344)(39,066) Common Shares held in treasury, 1,287 and 1,417 shares at June 30, 2024 and December 31, 2023, respectively, at cost 196,509193,169Retained earnings (92,788)(108,251)Accumulated other comprehensive loss 287,717270,451Total shareholders' equity $ 679,900$ 666,651Total liabilities and shareholders' equity

stoneridge.com © 2024 Appendix 19 Income Statement Six months ended June 30, Three months ended June 30, 2023202420232024(in thousands, except per share data) $ 508,139$ 476,216$ 266,814$ 237,059Net sales Costs and expenses: 404,849374,119206,326183,319Cost of goods sold 63,35462,29933,49131,876Selling, general and administrative 39,63436,06022,66618,457Design and development 3023,7384,3313,407Operating income 5,8667,4353,1203,801Interest expense, net 50032932952Equity in loss of investee 3,535(260)2,387(2,296)Other (income) expense, net (9,599)(3,766)(1,505)1,850Income (loss) before income taxes 779(426)1,487(936)(Benefit) provision for income taxes $ (10,378)$ (3,340)$ (2,992)$ 2,786Net income (loss) Income (loss) per share: $ (0.38)$ (0.12)$ (0.11)$ 0.10Basic $ (0.38)$ (0.12)$ (0.11)$ 0.10Diluted Weighted-average shares outstanding: 27,40027,52027,45227,611Basic 27,40027,52027,45227,853Diluted

stoneridge.com © 2024 Appendix 20 Statements of Cash Flows 20232024Six months ended June 30, (in thousands) OPERATING ACTIVITIES: $ (10,378)$ (3,340)Net loss Adjustments to reconcile net loss to net cash provided by (used for) operating activities: 13,16113,054Depreciation 4,0044,440Amortization, including accretion and write-off of deferred financing costs (3,782)(7,004)Deferred income taxes 500329Loss of equity method investee (854)258Loss (gain) on sale of fixed assets 1,2712,207Share-based compensation expense 66238Excess tax deficiency related to share-based compensation expense Changes in operating assets and liabilities: (28,100)(6,094)Accounts receivable, net (23,142)3,438Inventories, net 3,313(1,038)Prepaid expenses and other assets 27,069(849)Accounts payable 12,18412,123Accrued expenses and other liabilities (4,688)17,762Net cash provided by (used for) operating activities INVESTING ACTIVITIES: (18,025)(12,920)Capital expenditures, including intangibles 1,729222Proceeds from sale of fixed assets —(260)Investment in venture capital fund, net (16,296)(12,958)Net cash used for investing activities FINANCING ACTIVITIES: 42,00057,000Revolving credit facility borrowings (38,068)(58,000)Revolving credit facility payments 16,40217,677Proceeds from issuance of debt (18,086)(17,690)Repayments of debt (1,325)(666)Repurchase of Common Shares to satisfy employee tax withholding 923(1,679)Net cash (used for) provided by financing activities (32)(1,854)Effect of exchange rate changes on cash and cash equivalents (20,093)1,271Net change in cash and cash equivalents 54,79840,841Cash and cash equivalents at beginning of period $ 34,705$ 42,112Cash and cash equivalents at end of period Supplemental disclosure of cash flow information: $ 5,622$ 8,003Cash paid for interest, net $ 5,927$ 4,372Cash paid for income taxes, net

stoneridge.com © 2024 Appendix 21 Segment Reporting (A) Unallocated Corporate expenses include, among other items, accounting/finance, human resources, information technology and legal costs as well as share-based compensation. (B) These amounts represent depreciation and amortization on a property, plant and equipment and certain intangible assets. (C) Assets located at Corporate consist primarily of cash, intercompany receivables, fixed and leased assets for the headquarter building, information technology assets, equity investments and investments in subsidiaries Six Months Ended June 30, Three months ended June 30, 2023202420232024 Net Sales: $ 178,062$ 157,057$ 92,120$ 79,899Control Devices 1,7041,786970955Inter-segment sales 179,766158,84393,09080,854Control Devices net sales 300,913295,294159,786145,511Electronics 17,00714,3088,4917,967Inter-segment sales 317,920309,602168,277153,478Electronics net sales 29,16423,86514,90811,649Stoneridge Brazil —199—199Inter-segment sales 29,16424,06414,90811,848Stoneridge Brazil net sales (18,711)(16,293)(9,461)(9,121)Eliminations $ 508,139$ 476,216$ 266,814$ 237,059Total net sales Operating Income (Loss): $ 7,161$ 5,889$ 5,074$ 3,725Control Devices 8,84416,9207,4449,831Electronics 2,242163899(41)Stoneridge Brazil (17,945)(19,234)(9,086)(10,108)Unallocated Corporate (A) $ 302$ 3,738$ 4,331$ 3,407Total operating income Depreciation and Amortization: $ 6,273$ 5,669$ 3,099$ 2,806Control Devices 6,9677,7643,5033,903Electronics 2,2862,4971,2011,221Stoneridge Brazil 1,2071,204605620Unallocated Corporate $ 16,733$ 17,134$ 8,408$ 8,550Total depreciation and amortization (B) Interest Expense (Income), net: $ 83$ (19)$ 65$ (19)Control Devices 9961,104511501Electronics (589)(594)(319)(224)Stoneridge Brazil 5,3766,9442,8633,543Unallocated Corporate $ 5,866$ 7,435$ 3,120$ 3,801Total interest expense, net Capital Expenditures: $ 3,975$ 3,104$ 2,019$ 1,587Control Devices 8,5414,3542,3342,977Electronics 1,4181,739782799Stoneridge Brazil 329760217326Unallocated Corporate(C) $ 14,263$ 9,957$ 5,352$ 5,689Total capital expenditures

stoneridge.com © 2024 US GAAP Reconciliations US GAAP Reconciliations 23 This document contains information about Stoneridge's financial results which is not presented in accordance with accounting principles generally accepted in the United States ("GAAP"). Such non-GAAP financial measures are reconciled to their closest GAAP financial measures in the appendix of this document. The provision of these non-GAAP financial measures is not intended to indicate that Stoneridge is explicitly or implicitly providing projections on those non- GAAP financial measures, and actual results for such measures are likely to vary from those presented. The reconciliations include all information reasonably available to the Company at the date of this document and the adjustments that management can reasonably predict.

stoneridge.com © 2024 US GAAP Reconciliations 24 US GAAP Reconciliations Reconciliation of Q2 2024 Adjusted EPS Q2 2024 EPSQ2 2024(USD in millions, except EPS) $ 0.10$ 2.8Net Income 0.071.9Add: After-Tax Business Realignment Costs $ 0.17$ 4.7Adjusted Net Income

stoneridge.com © 2024 US GAAP Reconciliations 25 US GAAP Reconciliations Reconciliation of Adjusted Operating Income Q2 2024Q1 2024(USD in millions) $ 3.4$ 0.3Operating Income 1.9—Add: Pre-Tax Business Realignment Costs $ 5.4$ 0.3Adjusted Operating Income

stoneridge.com © 2024 US GAAP Reconciliations 26 US GAAP Reconciliations Reconciliation of Adjusted EBITDA Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023(USD in millions) $ 1.9$ (5.6)$ 3.2$ 4.4$ (1.5)$ (8.1)Income (Loss) Before Tax 3.83.63.83.33.12.7Interest expense, net 8.58.68.48.58.48.3Depreciation and amortization $ 14.2$ 6.6$ 15.5$ 16.2$ 10.0$ 3.0EBITDA 1.9—0.11.21.91.3Add: Pre-Tax Business Realignment Costs —————(0.8)Less: Pre-Tax Gain on Disposal of Fixed Assets —————0.1Add: Pre-Tax Environmental Remediation Costs ———(0.5)——Add: Pre-Tax Brazilian Indirect Tax Credits, Net $ 16.1$ 6.6$ 15.6$ 17.0$ 11.9$ 3.6Adjusted EBITDA

stoneridge.com © 2024 US GAAP Reconciliations 27 US GAAP Reconciliations Reconciliation of Electronics Adjusted Operating Income Q2 2024Q1 2024(USD in millions) $ 9.8$ 7.1Electronics Operating Income 1.9—Add: Pre-Tax Business Realignment Costs $ 11.7$ 7.1Electronics Adjusted Operating Income

stoneridge.com © 2024 US GAAP Reconciliations 28 US GAAP Reconciliations Reconciliation of Q2 2024 Adjusted Tax Rate Tax RateQ2 2024(USD in millions) $ 1.9Income Before Tax 1.9Add: Pre-Tax Business Realignment Costs $ 3.8Adjusted Income Before Tax (50.6)%(0.9)Income Tax Benefit -Add: Tax Impact from Pre-Tax Adjustments (24.3)%$ (0.9)Adjusted Income Tax Benefit on Adjusted Income Before Tax

stoneridge.com © 2024 US GAAP Reconciliations 29 US GAAP Reconciliations Reconciliation of Adjusted EBITDA for Compliance Calculation Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023(USD in millions) 1.9(5.6)3.2$ 4.4$ (1.5)$ (8.1)Income (Loss) Before Tax 3.83.63.83.33.12.7Interest Expense, net 8.58.68.48.58.48.3Depreciation and Amortization $ 14.2$ 6.6$ 15.5$ 16.2$ 10.0$ 3.0EBITDA Compliance adjustments: —0.2————Add: Non-Cash Impairment Charges and Write-offs or Write Downs (2.4)2.2(0.7)0.43.11.4Add: Adjustments from Foreign Currency Impact ———0.5—0.2Add: Extraordinary, Non-recurring or Unusual Items 0.51.60.30.10.51.4Add: Cash Restructuring Charges ——0.3———Add: Charges for Transactions, Amendments, and Refinances 0.10.3(0.1)0.10.30.2Add: Adjustment to Autotech Fund II Investment $ 12.3$ 10.9$ 15.3$ 17.4$ 13.9$ 6.1Adjusted EBITDA (Compliance) $ 55.9$ 57.5$ 52.7Adjusted TTM EBITDA (Compliance)

stoneridge.com © 2024 US GAAP Reconciliations 30 US GAAP Reconciliations Reconciliation of Adjusted Cash for Compliance Calculation Q2 2024Q1 2024Q4 2023(USD in millions) $ 42.1$ 48.4$ 40.8Total Cash and Cash Equivalents (12.5)(14.8)(12.8)Less: 35% Cash Foreign Locations $ 29.6$ 33.6$ 28.0Total Adjusted Cash (Compliance) Reconciliation of Adjusted Debt for Compliance Calculation Q2 2024Q1 2024Q4 2023(USD in millions) $ 189.5$ 196.5$ 191.5Total Debt 1.61.61.6Outstanding Letters of Credit $ 191.1$ 198.1$ 193.0Total Adjusted Debt (Compliance) $ 161.4$ 164.5$ 165.0Adjusted Net Debt (Compliance) 2.89x2.86x3.13xCompliance Leverage Ratio (Net Debt / TTM EBITDA)

Cover	Jul. 31, 2024
Cover [Abstract]
Document Type	8-K
Document Period End Date	Jul. 31, 2024
Entity Registrant Name	STONERIDGE, INC.
Entity Incorporation, State or Country Code	OH
Entity File Number	001-13337
Entity Tax Identification Number	34-1598949
Entity Address, Address Line One	39675 MacKenzie Drive
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Novi
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48377
City Area Code	248
Local Phone Number	489-9300
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Shares, without par value
Trading Symbol	SRI
Security Exchange Name	NYSE
Entity Emerging Growth Company	false
Entity Central Index Key	0001043337
Amendment Flag	false