Sign in

    Ronald Jewsikow

    Director and lead auto analyst at Guggenheim Partners

    Ronald Jewsikow is a Director and lead auto analyst at Guggenheim Partners, specializing in equity research covering electric vehicle manufacturers, auto dealers, and suppliers, with specific coverage that has included companies such as Penske Automotive Group and Group 1 Automotive. Over his tenure, Jewsikow has made over 50 stock ratings, maintaining a 38% success rate and an average return per rating of -6.9%, with his top rating generating a 55% return on Group 1 Automotive. He began his career as an Equity Research Associate at Wells Fargo Securities (2012-2018) before joining Guggenheim Partners, holding progressively senior positions. Jewsikow holds a Bachelor of Science and a Master’s degree from The Ohio State University and is known for his analytical rigor in automotive financial research.

    Ronald Jewsikow's questions to PENSKE AUTOMOTIVE GROUP (PAG) leadership

    Ronald Jewsikow's questions to PENSKE AUTOMOTIVE GROUP (PAG) leadership • Q2 2025

    Question

    Ronald Jewsikow of Guggenheim Securities, LLC inquired about the gross profit per unit (GPU) trajectory during Q2 and into July, and the potential impact of the sunsetting of EV tax credits on its luxury-heavy vehicle mix.

    Answer

    COO of North American Operations Richard Shearing explained that GPUs were stable in Q2, supported by tariff uncertainty, but he anticipates some future compression. He noted a focus on selling BEV inventory before the tax credit expires, aided by OEM incentives. Chairman & CEO Roger Penske added that a rebalancing of production away from BEVs could increase the supply of in-demand ICE models, which he views as a positive for the business.

    Ask Fintool Equity Research AI

    Ronald Jewsikow's questions to PENSKE AUTOMOTIVE GROUP (PAG) leadership • Q1 2025

    Question

    Ronald Jewsikow asked about the potential impact of tariffs on parts inflation, the outlook for new vehicle GPUs, and the regional performance differences between the U.S. and Europe.

    Answer

    Chair and CEO Roger Penske speculated that tariffs on non-genuine parts could make PAG's genuine parts more competitive. He also noted new vehicle GPUs have been hovering around $5,000, supported by a better ICE/BEV mix. EVP Rich Shearing added that PAG's premium brand mix led to the lowest new GPU decline among peers. Both executives confirmed U.S. and U.K. new gross profit trends were similar.

    Ask Fintool Equity Research AI

    Ronald Jewsikow's questions to GROUP 1 AUTOMOTIVE (GPI) leadership

    Ronald Jewsikow's questions to GROUP 1 AUTOMOTIVE (GPI) leadership • Q2 2025

    Question

    Ronald Jewsikow of Guggenheim Securities asked for clarification on UK SG&A drivers beyond mandated cost increases and questioned if customer-pay service demand could offset a potential slowdown in warranty work.

    Answer

    CFO Daniel McHenry confirmed there were no other unusual drivers for the UK SG&A increase, attributing it to normal quarterly fluctuations and reiterating an annualized target near 80% of gross profit. CEO Daryl Kenningham stated that while customer-pay (CP) growth couldn't fully offset a 31% warranty surge, there is still significant room to grow the CP business, as service capacity remains the key to overall aftersales growth.

    Ask Fintool Equity Research AI

    Ronald Jewsikow's questions to GROUP 1 AUTOMOTIVE (GPI) leadership • Q1 2025

    Question

    Ronald Jewsikow asked for quantification of the SG&A creep in the U.S. during January and February and whether it was normalized by March. He also inquired about OEM plans for volume, pricing, and incentives given potential tariff changes.

    Answer

    CFO Daniel McHenry acknowledged that SG&A leverage was weaker in January and February due to some creep in variable compensation, which the company began to realign in March and will continue to address in Q2. CEO Daryl Kenningham stated he expects OEMs to moderate incentives first before considering modest price increases, and he is closely watching the potential impact on parts pricing.

    Ask Fintool Equity Research AI

    Ronald Jewsikow's questions to GROUP 1 AUTOMOTIVE (GPI) leadership • Q4 2024

    Question

    Ronald Jewsikow sought to understand the drivers of the 7% increase in parts and service revenue per repair order, asking if it was due to warranty work or pricing power. He also asked if potential Mexican import tariffs could support pricing for Group 1's U.S.-built vehicle mix.

    Answer

    CEO Daryl Kenningham attributed the higher revenue per repair order to increased customer counts and a rising average age of vehicles needing more work, rather than significant price increases. He also acknowledged there is truth to the idea that tariffs on imports could be supportive for the pricing of vehicles built domestically.

    Ask Fintool Equity Research AI

    Ronald Jewsikow's questions to Rivian Automotive, Inc. / DE (RIVN) leadership

    Ronald Jewsikow's questions to Rivian Automotive, Inc. / DE (RIVN) leadership • Q1 2025

    Question

    Ronald Jewsikow asked for more detail on the delivery guidance reduction, specifically whether it was driven more by commercial vans or consumer vehicles and if any supply risk was factored in. He also requested an update on the R2 retooling, production downtime, and whether the necessary capital equipment has been sourced.

    Answer

    CEO Robert Scaringe attributed the guidance change to broad consumer price sensitivity and uncertainty, affecting both consumer and commercial demand. He added that the supply chain team is actively working to mitigate any potential interruptions from the tariff environment. COO Javier Varela confirmed that the building expansion for R2 is complete, all equipment is sourced, and the planned plant downtime in the second half of the year to integrate R2 production is on track.

    Ask Fintool Equity Research AI

    Ronald Jewsikow's questions to GENTEX (GNTX) leadership

    Ronald Jewsikow's questions to GENTEX (GNTX) leadership • Q1 2025

    Question

    Ronald Jewsikow asked for clarification on whether the 50-100 basis point margin pressure from tariffs was included in the 2025 guidance. He also inquired about Gentex's market share in China, whether local competitors could absorb lost volume, and the expected financial dilution from the VOXX acquisition.

    Answer

    President and CEO Steve Downing confirmed the tariff-related margin pressure is included in the 2025 guidance. He explained that while there is local 'knockoff' competition in China, it lacks the capacity to replace Gentex's volume, especially for outside mirrors, likely leading to de-contenting by domestic OEMs. CFO Kevin Nash stated that VOXX is expected to be close to breakeven from a net profitability perspective, pre-tariffs, and thus not significantly dilutive.

    Ask Fintool Equity Research AI

    Ronald Jewsikow's questions to GENTEX (GNTX) leadership • Q4 2024

    Question

    Ronald Jewsikow sought clarification on the Q4 mix issues, noting that shipment data didn't obviously suggest a mix headwind. He also asked if the FDM revenue shortfall implied a significant acceleration was previously expected and whether the 2025 guidance remains conservative on production forecasts.

    Answer

    CEO Steve Downing clarified the mix issue was complex, involving lower overall mirror volumes, weakness in North American features like HomeLink, and lower-than-expected Tesla volumes. He confirmed a higher FDM growth rate was expected in Q4. Downing also stated Gentex remains more pessimistic than S&P on production in its primary markets.

    Ask Fintool Equity Research AI

    Ronald Jewsikow's questions to GENTEX (GNTX) leadership • Q3 2024

    Question

    Ronald Jewsikow followed up on the Full Display Mirror's (FDM) strong performance, asking if it was driven by new launches or a rebound from prior destocking. He also inquired about the outlook for the European market and if the Q4 guide reflects conservatism.

    Answer

    President and CEO Steve Downing attributed the FDM strength to nine new nameplate launches in the quarter and strong volume with existing customers like GM. He confirmed Gentex is pessimistic about the European market but feels its diversified customer base provides a buffer, and that conservatism is factored into the Q4 guidance.

    Ask Fintool Equity Research AI

    Ronald Jewsikow's questions to VISTEON (VC) leadership

    Ronald Jewsikow's questions to VISTEON (VC) leadership • Q1 2025

    Question

    Ronald Jewsikow sought confirmation that Q1 commercial recoveries were not advances for future tariff costs and asked about the recent stabilization of market share between global and domestic OEMs in China.

    Answer

    CFO Jerome Rouquet confirmed the one-time recoveries were related to past costs and not in anticipation of future tariffs. CEO Sachin Lawande commented that the market share stabilization in China, while based on only one quarter, could be the start of a new trend as global OEMs launch new, better-targeted models. He cited Toyota's positive performance as a key indicator.

    Ask Fintool Equity Research AI

    Ronald Jewsikow's questions to LITHIA MOTORS (LAD) leadership

    Ronald Jewsikow's questions to LITHIA MOTORS (LAD) leadership • Q1 2025

    Question

    Ronald Jewsikow followed up on SG&A, asking for details on the drivers behind the planned monthly savings and what the 'low-hanging fruit' is. He also asked what drove the significant sequential step-up in DFC loan originations during the quarter.

    Answer

    President and CEO Bryan DeBoer identified the primary drivers for SG&A reduction as a long-term 10-15% decrease in personnel costs through productivity gains and leveraging corporate scale and vendor contracts. Regarding DFC, he explained that improving Net Interest Margins (NIMs) provided the flexibility to scale loan penetration, which reached 13.7% in the quarter, without compromising credit quality.

    Ask Fintool Equity Research AI