NEW YORK, Dec. 5, 2024 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP) is proud to share that it has again been recognized as one of America's Most Responsible Companies 2025 by Newsweek and Statista. SMP is honored to be one of only 21 companies in the automotive and components sector included in this list. Companies are recognized for continued effort and results within all aspects of Sustainability - Environmental, Social and Corporate Governance. This recognition reflects SMP's commitment to b ...

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Standard Motor Products (SMP) posted third-quarter 2024 adjusted earnings per share (EPS) of $1.28, which rose from $1.11 reported in the prior-year quarter and beat the Zacks Consensus Estimate of $1.09.Total revenues rose to $399.3 million from $386.4 million reported in the third quarter of 2023. The reported figure also beat the Zacks Consensus Estimate of $396 million. Gross profit rose to $121.4 million from the year-ago quarter’s $114.8 million. Operating income rose to $37.1 million from $34.8 milli ...

NEW YORK, Nov. 1, 2024 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, today announced the completion of the previously-announced acquisition of AX V Nissens III APS ("Nissens"), a leading European manufacturer and distributor of aftermarket engine cooling and air conditioning products with a growing array of vehicle control technologies.  Under the terms of the agreement, SMP has acquired all the issued and outstanding shares of Nissens fo ...

Financial Data and Key Metrics Changes - The company reported a 3.3% increase in revenue compared to the previous year's record-setting quarter, with a year-to-date increase of almost 6% [6] - Adjusted diluted EPS increased over 15% from last year's third quarter, with year-to-date performance also ahead [7] - Consolidated SG&A expenses were up for both the quarter and first nine months, with SG&A as a percentage of net sales flat at 16.9% for the quarter [25][26] Business Line Data and Key Metrics Changes - **Vehicle Control**: Net sales of $200.9 million in Q3 were up 5.2%, with year-to-date sales up 2.8% [18] - **Temperature Control**: Q3 net sales of $126 million were up 1.9%, with year-to-date sales up 9.9% [21] - **Engineered Solutions**: Sales in Q3 were up 0.8%, with year-to-date sales up 3.8% [23] Market Data and Key Metrics Changes - The company noted that certain end markets for Engineered Solutions are beginning to show a slowdown, impacting sales [11] - The North American aftermarket has shown resilience, with nondiscretionary repair items performing well even during economic downturns [38] Company Strategy and Development Direction - The company is focused on the acquisition of Nissens Automotive, which is expected to enhance growth, cost reduction, and operational synergies [12][13][15] - The company plans to present Nissens as a new segment and is eager to explore growth opportunities together [36] Management's Comments on Operating Environment and Future Outlook - Management acknowledged external factors impacting the business but expressed confidence in the resilience of the markets [38] - The company expects low to mid-single-digit percentage growth in sales for the full year of 2024, with adjusted EBITDA in the range of 9% to 9.5% [33] Other Important Information - The company incurred start-up costs related to a new distribution center, which impacted SG&A expenses [26] - A new 5-year, $750 million credit facility was established to support the acquisition of Nissens and provide flexibility for growth [32] Q&A Session Summary Question: Vehicle Control performance amidst sluggish customer reports - Management noted that while some customers reported sluggishness, nondiscretionary products are outperforming, and sales exceeded customer purchases due to inventory expansion [41] Question: Inventory status in Temperature Control - Management indicated that both customer and company inventories were well-maintained throughout the period, leading to a healthy position heading into the off-season [43] Question: Performance in Engineered Solutions and market softness - Management acknowledged some softness in construction and agricultural equipment markets but emphasized long-term growth potential despite quarterly fluctuations [44] Question: Outlook for 2025 and interest rates - Management refrained from providing guidance for 2025 but acknowledged the importance of monitoring interest rates and their impact on factoring [46] Question: Softening in Europe and collaboration with Nissens - Management stated that while the deal with Nissens has not closed yet, they are optimistic about future collaboration and the potential for growth in the European market [48]

Standard Motor Products (SMP) came out with quarterly earnings of $1.28 per share, beating the Zacks Consensus Estimate of $1.09 per share. This compares to earnings of $1.11 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 17.43%. A quarter ago, it was expected that this auto parts maker would post earnings of $0.78 per share when it actually produced earnings of $0.98, delivering a surprise of 25.64%. Over the last four quar ...

Net Sales of $399.3M, up 3.3%, with all three operating segments showing increases Adjusted diluted earnings per share of $1.28, up 15% Adjusted EBITDA up 80 basis points to 12.2% Nissens Automotive acquisition expected to close in near future Full year guidance remains unchanged NEW YORK, Oct. 30, 2024 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, reported today its consolidated financial results for the three and nine months ended Septe ...

NEW YORK, Oct. 25, 2024 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, is scheduled to report its earnings for the three months and nine months ended September 30, 2024, on Wednesday, October 30, 2024, before the opening of the stock market.Conference CallStandard Motor Products, Inc. will hold a conference call at 11:00 AM, Eastern Time, on Wednesday, October 30, 2024.  This call will be webcast and can be accessed on the Investor Relatio ...

NEW YORK, Sept. 17, 2024 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, announced today it has entered into a new five-year $750 million credit facility, with JPMorgan Chase Bank, N.A., as agent, and a syndicate of lenders (the "Credit Facility"). The Credit Facility includes $310 million of term loans and a $440 million revolving credit facility, and allows for borrowing in multiple currencies. In addition, SMP intends to use interest rat ...

Shares of Standard Motor Products, Inc. (SMP) , one of the leading manufacturers, distributors and marketers of premium automotive replacement parts, have plunged 19.7% year to date (YTD), underperforming the industry as well as its peers like Dorman Products, Inc. (DORM) and Douglas Dynamics, Inc. (PLOW) . Image Source: Zacks Investment Research YTD Price Comparison Standard Motor thrives on sustained demand for automotive parts and acquisition and balance sheet strength. However, rising capital expenditur ...