Stoneridge Q2 2024 Adj. EPS $0.17 Beats $(0.02) Estimate, Sales $237.059M Miss $242.604M Estimate
Portfolio Pulse from Benzinga Newsdesk
Stoneridge (NYSE:SRI) reported Q2 2024 adjusted EPS of $0.17, significantly beating the analyst estimate of $(0.02). However, sales of $237.059 million missed the $242.604 million estimate and were down 11.15% year-over-year.
July 31, 2024 | 9:50 pm
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NEUTRAL IMPACT
Stoneridge reported a strong EPS beat but missed on sales, leading to mixed investor sentiment. The EPS beat by 950% is a positive surprise, but the sales miss and year-over-year decline could weigh on the stock.
The significant EPS beat is a strong positive, but the sales miss and year-over-year decline in revenue could offset some of the optimism. Investors may have mixed reactions, leading to potential short-term volatility in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100