DivestmentMay 15, 2026, 05:02 PM
Stoneridge Completes Control Devices Divestment; Q1 Net Loss $(27.9)M
AI Summary
Stoneridge, Inc. completed the sale of its Control Devices business segment on January 30, 2026, for a purchase price of $59.0M, resulting in a loss on disposal of $9.8M, net of tax. For the first quarter of 2026, the company reported a net loss of $(27.9)M, significantly wider than the $(7.2)M net loss in Q1 2025. Net sales from continuing operations increased to $160.8M, but the loss from continuing operations also widened to $(14.8)M.
Key Highlights
- Completed the sale of its Control Devices business segment on January 30, 2026, for $59.0M.
- Incurred a loss on disposal of $9.8M, net of tax, from the Control Devices segment sale.
- Net sales from continuing operations increased to $160.8M in Q1 2026 from $149.1M in Q1 2025.
- Loss from continuing operations widened to $(14.8)M in Q1 2026 from $(8.0)M in Q1 2025.
- Total net loss was $(27.9)M in Q1 2026, compared to $(7.2)M in Q1 2025.
- Basic loss per share from Stoneridge Inc. was $(1.00) in Q1 2026 vs $(0.26) in Q1 2025.
- Net cash provided by investing activities was $58.4M, including proceeds from the business disposal.
- Electronics segment net sales were $144.8M; Stoneridge Brazil segment net sales were $16.0M.
Price Impact
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