Standard Motor Q1 Earnings Surpass Estimates, Revenues Rise Y/Y

Core Viewpoint - Standard Motor Products (SMP) reported strong first-quarter 2025 results, with adjusted earnings per share (EPS) significantly exceeding expectations and showing year-over-year growth [1][9]. Financial Performance - Adjusted EPS for Q1 2025 was 81 cents, surpassing the Zacks Consensus Estimate of 44 cents and increasing from 45 cents in the prior-year quarter [1]. - Total revenues rose to $413.4 million from $331.4 million in Q1 2024, exceeding the Zacks Consensus Estimate of $394 million [2]. - Gross profit increased to $124.7 million from $89.5 million year-over-year, while operating income rose to $24.5 million from $14.6 million in the prior-year quarter [2]. Segmental Results - Vehicle Control segment revenues were $192.3 million, a 3.7% increase year-over-year, but fell short of the estimate of $198.3 million. Operating income was $18.3 million, up from $15.6 million [4]. - Temperature Control segment revenues reached $88.9 million, up from $71.6 million year-over-year, exceeding the projection of $72 million. Operating income was $7.8 million, up from $2.1 million [5]. - Engineered Solutions segment revenues totaled $66 million, down 11.2% year-over-year, missing the estimate of $81 million. Operating income was $3.2 million, up from $2.2 million [6]. - Nissens Automotive segment revenues were $66.2 million, surpassing the expectation of $42.5 million, with an operating income of $7.6 million [6]. Financial Position - As of March 31, 2025, the company had $50.3 million in cash, up from $44.4 million at the end of 2024. Long-term debt increased to $627.3 million from $535.2 million [7]. - Net cash used by operating activities was $60.2 million, and SG&A expenses rose 33.6% to $99.8 million [7]. Dividend and Guidance - The company declared a quarterly dividend of 31 cents per share, payable on June 2, 2025, to stockholders of record as of May 15, 2025 [8]. - For 2025, SMP expects sales growth in the mid-teens and adjusted EBITDA to be in the range of 10-11% of total revenues [9].