Stoneridge, Inc. (NYSE:SRI) Q2 2024 Earnings Conference Call August 1, 2024 9:00 AM ET

Company Participants

Kelly Harvey - Director, Investor Relations
Jim Zizelman - President and CEO
Matt Horvath - Chief Financial Officer
Troy Cooprider - Chief Technology Officer

Conference Call Participants

Collin Nieman - Stephens
Gary Prestopino - Barrington Research

Operator

Welcome to the Stoneridge, Inc., Second Quarter 2024 Results Conference Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session.

I would now like to turn the call over to Kelly Harvey, Director of Investor Relations. Ms. Harvey, please go ahead.

Kelly Harvey

Good morning, everyone. And thank you for joining us to discuss our second quarter 2024 results. The release and accompanying presentation was filed with the SEC and is posted on our website at stoneridge.com in the Investor section under Presentations and Events.

Joining me on today’s call are Jim Zizelman, our President and Chief Executive Officer; Matt Horvath, our Chief Financial Officer; and Troy Cooprider, our Chief Technology 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 yesterday with the Security and Exchange Commission under the heading Forward-Looking Statements.

During today’s call, we will also be referring to certain non-GAAP financial measures. Please see Slide 3 for a more detailed description of these non-GAAP measures and the appendix for a reconciliation of these non-GAAP measures to the most directly comparable GAAP measures.

After Jim, Matt, and Troy have finished their formal remarks, we will then open up the call to questions.

And with that, I will hand the call over to Jim.

Jim Zizelman

Thank you, Kelly, and good morning, everyone. Beginning on Page 4, our second quarter financial performance highlights our continued focus on improving the fundamentals of our business, leading to significantly improved margins in the quarter. This is primarily driven by continued material cost improvements and operating cost control as we continue to execute on the key initiatives we set at the beginning of the year.