SRI · Stoneridge, Inc.

Stoneridge, Inc. announced first quarter 2026 results on May 7, 2026, via press release (Exhibit 99.1), showing net sales of $160.8 million, a 9.2% increase from recast Q4 2025, driven by higher Electronics sales of $144.9 million (up 8.7% sequentially) from European and North American commercial vehicle markets including record MirrorEye sales of $33 million, incremental contract manufacturing revenue from the Control Devices sale, and higher off-highway sales. Stoneridge Brazil sales rose 9.4% to $18.1 million on higher OEM volumes and favorable FX. Gross profit reached $35.0 million (21.7% margin), up 400 basis points from Q4 2025 adjusted, due to improved manufacturing, reduced quality costs, and $2.3 million net tariff recoveries. GAAP operating loss was $9.0 million (5.6% of sales), with adjusted at $3.0 million (1.8%), improving 180 basis points sequentially despite higher SG&A and D&D. Electronics adjusted operating margin hit 2.8%, up 260 basis points from Q4 2025 on sales leverage and cost reductions; Brazil's was 9.5%, up 140 basis points. Net loss of $27.0 million included $12.4 million from discontinued Control Devices operations and $9.2 million disposal loss. Adjusted EBITDA was $2.0 million (1.3% margin). Balance sheet strengthened with cash at $70.5 million, total debt $156.5 million, net debt $85.9 million, down $42 million from year-end on sale proceeds. Management highlighted solid progress, new awards over $135 million lifetime value (OEM-integrated MirrorEye ~$70 million, off-highway controls ~$65 million), and cost cuts targeting $5 million reduction. Updated FY2026 guidance reflects Mexico Supply Agreement: sales $645-$670 million (up $20 million), adjusted operating margin break-even to 0.5% (up 50 basis points), reaffirming adjusted gross margin 21.5-22.0% and EBITDA $20-$25 million. Conference call held May 7, 2026, with Exhibit 99.2 presentation.