DivestmentAug 5, 2026, 05:14 PM
Stoneridge Completes Control Devices Sale; Q2 Net Loss Narrows
AI Summary
Stoneridge, Inc. completed the sale of its Control Devices business segment on January 30, 2026, for $59 million, resulting in a $9.8 million loss on disposal. For the second quarter of 2026, net sales from continuing operations rose 15.1% to $181.4 million, and the net loss improved to $(5.3) million. However, the year-to-date net loss for 2026 was $(33.2) million, primarily impacted by the disposal loss. The company also saw an increase in cash and cash equivalents and a reduction in its revolving credit facility debt.
Key Highlights
- Completed the sale of its Control Devices segment on January 30, 2026, for $59 million.
- Incurred a $9.8 million loss on disposal, net of tax, from the Control Devices segment sale.
- Q2 2026 net sales from continuing operations increased 15.1% to $181.4 million.
- Q2 2026 net loss from continuing operations improved to $(5.3) million from $(9.4) million.
- YTD 2026 net loss was $(33.2) million, including the loss on disposal.
- Cash and cash equivalents increased to $71.5 million as of June 30, 2026.
- Revolving credit facility debt reduced to $151.1 million from $180.9 million.
Price Impact
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