Stoneridge Reports Fourth Quarter and Full-Year 2022 Results
Fourth quarter results included a $3.7 million, or ($0.10) earnings per share, adjustment to non-operating income related to a prior quarter correction.
- Fourth quarter results included a $3.7 million, or ($0.10) earnings per share, adjustment to non-operating income related to a prior quarter correction.
- Sales were adjusted to normalize the impact of electronic component spot buys recovered from customers of $6.0 million for the fourth quarter of 2022 and $58.4 million for the full-year 2022.
- For the fourth quarter of 2022, Stoneridge reported gross profit of $45.5 million (19.7% of sales, 20.2% of adjusted sales).
- Fourth quarter operating margin decreased by 200 basis points relative to the third quarter of 2022, primarily due to higher material costs driven by an unfavorable sales mix.