Stoneridge, Inc. announced financial results for the second quarter ended June 30, 2025, with sales of $228.0 million, a decrease of 3.8% compared to Q2 2024. The company reported an adjusted operating income of $0.4 million and an adjusted EPS of $(0.25). Adjusted EBITDA was $4.6 million, or $8.1 million excluding $3.4 million in non-operating foreign currency expense.
MirrorEye achieved another quarterly sales record, growing 21% quarter-over-quarter, driven by the ramp-up of OEM programs. The company announced approximately $775 million in new lifetime revenue awards, including the largest in Stoneridge history: a global MirrorEye program extension valued at $535 million in lifetime revenue and $140 million in peak annual revenue. Stoneridge Brazil also secured its largest OEM award for an infotainment electronic control unit, valued at $85 million in lifetime revenue.
Stoneridge initiated a review of strategic alternatives for its Control Devices business, with a primary focus on a potential sale. This move aims to optimize capital allocation, engineering resources, and leadership attention towards its high-growth Electronics and Stoneridge Brazil segments, which are experiencing record business wins.
The company reduced its total debt by $38.8 million and net debt by $9.5 million (for compliance purposes) relative to the first quarter, primarily due to a $43.8 million global cash repatriation program and a $7.3 million inventory reduction. The adjusted net debt to trailing twelve-month EBITDA compliance leverage ratio was 4.17x, below the required 5.50x.
Stoneridge maintained its full-year 2025 sales guidance of $860 million to $890 million and free cash flow guidance of $25 million to $30 million. However, adjusted EBITDA guidance was updated to $34 million to $38 million, reflecting $3.0 million in non-operating foreign currency headwinds and an estimated $1.0 million in incremental tariff-related costs not assumed in initial guidance.
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