Compared to Estimates, Standard Motor Products (SMP) Q2 Earnings: A Look at Key Metrics

Core Insights - Standard Motor Products (SMP) reported revenue of $389.83 million for the quarter ended June 2024, reflecting a year-over-year increase of 10.4% [1] - The company's earnings per share (EPS) was $0.98, up from $0.84 in the same quarter last year, exceeding the consensus EPS estimate of $0.78 by 25.64% [1] - The reported revenue surpassed the Zacks Consensus Estimate of $365.55 million, resulting in a surprise of 6.64% [1] Revenue Breakdown - Vehicle Control revenues reached $188.74 million, slightly above the average estimate of $185.54 million, marking a year-over-year increase of 2.7% [3] - Temperature Control revenues were reported at $124.48 million, significantly exceeding the average estimate of $99.59 million, with a year-over-year growth of 28.2% [4] - Engineered Solutions revenues totaled $76.61 million, which was below the estimated $78.60 million, but still represented a 6.1% increase compared to the previous year [5] Stock Performance - Shares of Standard Motor Products have increased by 21.3% over the past month, outperforming the Zacks S&P 500 composite, which saw a change of 1.1% [5] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [5]