Stoneridge, Inc. (NYSE:SRI) Q1 2022 Earnings Conference Call May 5, 2022 9:00 AM ET

Company Participants

Kelly Harvey - Director, Investor Relations

Jon DeGaynor - President & Chief Executive Officer

Matt Horvath - Chief Financial Officer

Conference Call Participants

Justin Long - Stephens Inc.

Operator

Good morning and welcome to the Stoneridge First Quarter 2022 Conference Call. My name is Anera and I'll be the operator for today's call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded.

I will now turn the call over to Ms. Kelly Harvey, Director of Investor Relations. Ms. Harvey, you may begin.

Kelly Harvey

Good morning everyone and thank you for joining us to discuss our first quarter results. The release and accompanying presentation was filed with the SEC yesterday evening and is posted on our website at stoneridge.com in the Investors section under Webcast and Presentation.

Joining me on today's call are Jon DeGaynor, our President and Chief Executive Officer; and Matt Horvath, our Chief Financial Officer.

Before we begin, I need to inform you that certain statements today may be forward-looking statements. Forward-looking statements include statements that are not historical in nature and include information concerning our future results or plans. Although we believe that such statements are based upon reasonable assumptions you should understand that these statements are subject to risks and uncertainties and actual results may differ materially.

Additional information about such factors and uncertainties that could cause actual results to differ may be found in our 10-Q which was filed with the Securities and Exchange Commission under the heading Forward-Looking Statements.

During today's call, we will be referring to certain non-GAAP financial measures. Please see the appendix for a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures.

After Jon and Matt have finished their formal remarks, we will open up the call to questions. [Operator Instructions]

With that, I will turn the call over to Jon.

Jon DeGaynor

Thanks Kelly and good morning everyone. Let me begin on page three. In the first quarter, we continued to navigate through the challenges resulting from the global pandemic including continued supply chain disruptions, production volatility, and rising material costs.

We focused on responding to fluctuating production schedules limited component availability managing our cost structure and continuing to engage with our customers and suppliers on cost recovery actions. These actions resulted in improved financial performance during the quarter.