Blog: STONERIDGE INC : Results of Operations and Financial Condition, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K) – Marketscreener.com

ITEM 2.02 Results of Operations and Financial Condition.

On August 3, 2022, Stoneridge, Inc. (the “Company”) issued a press release
announcing its results for the second quarter ended June 30, 2022. A copy of the
press release is attached hereto as Exhibit 99.1. On August 4, 2022, members of
the Company’s management will hold a second quarter 2022 earnings conference
call to discuss the Company’s financial results and the presentation attached
hereto as Exhibit 99.2, will accompany management’s comments.

The press release and earnings conference call presentation contain certain
non-GAAP financial measures, including Adjusted Sales, Adjusted Gross Profit and
Margin, Adjusted Operating Income (Loss) and Margin, Adjusted Income (Loss)
Before Tax, Adjusted Net Loss, Adjusted Loss per Share (“Adjusted EPS”),
Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”),
EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Income Tax
Expense and Adjusted Tax Rate (collectively, the “Non-GAAP Financial Measures”).
Management believes that the presentation of the Non-GAAP Financial Measures
used in the press release and earnings conference call presentation are useful
to both management and investors in their analysis of the Company’s financial
position, results of operations and expected results of operations because the
Non-GAAP Financial Measures facilitate a period to period comparison of
operating results by excluding significant unusual, non-recurring items in 2022
and 2021. For 2022, these items relate to the after-tax and pre-tax Brazilian
indirect tax credits, pre-tax business realignment costs, after-tax write-off of
deferred financing fees, sales from spot purchase recoveries and FX impact. For
2021, these items relate to the pre-tax gain on sale of the Canton facility,
pre-tax Brazilian indirect tax credits, net, pre-tax gain from disposal of Soot
Sensor Business, pre-tax sale of Soot Sensor product inventory, sales from
disposed Soot Sensor Business, pre-tax operating loss from disposed Soot Sensor
Business, pre-tax change in fair value of the earn-out consideration related to
the acquisition of the remaining 26% minority interest in Stoneridge Brazil,
pre-tax Stoneridge Brazil TSA and monetary correction, pre-tax gain from
disposal of MSIL joint venture and pre-tax restructuring costs. These non-GAAP
financial measures, however, should not be considered in isolation or as a
substitute for the most comparable GAAP financial measures. Investors are
cautioned that non-GAAP financial measures used by the Company may not be
comparable to non-GAAP financial measures used by other companies. Adjusted
Sales, Adjusted Gross Profit and Margin, Adjusted Operating Income (Loss) and
Margin, Adjusted Income (Loss) Before Tax, Adjusted Net Loss, Adjusted EPS,
EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Income
Tax Expense and Adjusted Tax Rate should not be considered a substitute for
Sales, Gross Profit, Operating Income (Loss), Income (Loss) Before Tax, Net
Loss, Earnings (Loss) per Share, Income Tax Expense or Tax Rate prepared in
accordance with GAAP.

ITEM 7.01 Regulation FD Disclosure.

The information set forth in Item 2.02 above is hereby incorporated herein by
reference.

The information in this report, including the press release and the earnings
conference call presentation furnished as Exhibits 99.1 and 99.2 hereto, shall
not be deemed to be “filed” for purposes of Section 18 of the Securities and
Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to
the liabilities of that Section, and shall not be incorporated by reference into
any filing under the Securities Act of 1933, as amended, or the Exchange Act,
except as shall be expressly set forth by specific reference in such a filing.
In addition, the exhibits furnished herewith contain statements intended as
“forward-looking statements” that are subject to the cautionary statements about
forward-looking statements set forth in such exhibits.

ITEM 9.01 Financial Statements and Exhibits.





(d)      Exhibits



Exhibit No.  Description

  99.1         Press release dated August 3, 2022, announcing results for the
             second quarter ended June 30, 2022

  99.2         Second quarter 2022 results earnings conference call presentation
             materials, dated August 4, 2022

104          Cover Page Interactive Data File (the Cover Page Interactive Data
             File is embedded within the Inline XBRL document)

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