Stoneridge FY Loss Narrows

(RTTNews) - Stoneridge Inc. (SRI) reported that its net loss for fiscal year 2023 narrowed to $5.18 million or $0.19 per share from $14.06 million or $0.52 per share in the prior year.

Net sales for the year grew to $975.82 million from $899.92 million in the prior year.

Looking ahead for its full-year 2024, the company projects earnings per share to be in the range of $0.30 to $0.40 and sales of $990 million to $1.01 billion.

The company maintained 2027 long-term target and establishes 2028 revenue target of $1.35 billion - $1.55 billion and EBITDA margin target of 12.0% - 14.0%.