Company Recognition - Standard Motor Products, Inc. (SMP) has been recognized as one of Newsweek's America's Greatest Workplaces 2025 and also named one of America's Greatest Workplaces in Manufacturing [1][2] Employee Satisfaction Metrics - The recognition is based on a large-scale employee survey that evaluated ten categories including mental wellbeing, job security, work-life balance, working environment, company image, community, sustainability and awareness, compensation and benefits, training and career progression, and corporate culture [3] - Over 400,000 interviews were conducted and nearly 5 million company reviews were analyzed to compile the list [3] Company Overview - SMP has over 100 years of experience as a leading independent manufacturer and distributor of premium replacement parts in the automotive aftermarket [5] - The company sells products primarily to retailers, warehouse distributors, original equipment manufacturers, and original equipment service part operations across various regions including the United States, Canada, Europe, Asia, Mexico, and other Latin American countries [5]

Transaction Overview - Dana Incorporated has entered into a definitive agreement to sell its Off-Highway business to Allison Transmission Holdings Inc[9] - The enterprise value of the transaction is $2.7 billion[9] - Dana expects to generate approximately $2.4 billion of net cash proceeds from the sale after tax, other transaction expenses, and assumed liabilities[16] - The transaction is expected to close in late Q4 2025[16] Use of Proceeds - Dana plans to use approximately $2 billion of the proceeds for debt paydown, targeting a net leverage of approximately 1x over the business cycle[16] - The company intends to return $550 million of capital to shareholders, part of a $1 billion total authorized through 2027[16] New Dana Outlook - Dana maintains its current full-year guidance[35] - The company is on track to realize $300 million in cost savings, with $225 million expected in 2025[37] - Dana is targeting $225 million in adjusted free cash flow[38] - For 2026, Dana anticipates adjusted EBITDA margins of 10-10.5%[48] - Dana has authorized $1 billion in capital return to shareholders through 2027, in addition to the existing dividend[44]

Financial Data and Key Metrics Changes - The company announced a new contract with Scout Motors for producing electric vehicle components, indicating a strategic shift towards electrification [5][6] - Management emphasized the importance of scale in revenue and buying power to navigate the current market uncertainties [27][28] Business Line Data and Key Metrics Changes - The company is focusing on both battery electric vehicles (BEVs) and extended range electric vehicles (EREVs), highlighting a dual approach to meet consumer preferences [10][11] - The acquisition of Dallaigh is expected to provide significant synergies, estimated at $300 million, which will enhance EBITDA and strengthen the balance sheet [31][34] Market Data and Key Metrics Changes - The North American production schedules are described as somewhat volatile but manageable, reflecting ongoing adjustments in the supply chain [47] - The company is observing increased inquiries for metal forming services as OEMs consider onshoring production to the U.S. [42] Company Strategy and Development Direction - The company aims to diversify its product offerings and reduce dependence on any single customer or technology, positioning itself to adapt to market changes [28][29] - The management believes that consolidation in the industry is likely due to rising costs and the need for shared resources [39][41] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to recover tariff-related costs and maintain a low exposure to tariffs due to localized production [50][51] - The management is optimistic about the future of the electric vehicle market, particularly in the U.S. and China, where they see significant growth potential [72][73] Other Important Information - The company is undergoing a dual listing to enhance shareholder value and facilitate the integration of the acquisition [46] - The management is committed to deleveraging post-acquisition while remaining open to shareholder-friendly activities once leverage targets are met [43] Q&A Session Summary Question: What are the competitive dynamics in the public space going forward? - Management noted that competition remains stiff but emphasized the importance of having the right technology and cost structure in place to succeed [60][61] Question: How is the company positioned in the European market? - Management stated that they have carefully analyzed the European footprint and are not concerned about the complexity, believing it will be additive to the deal [68][69] Question: What are the prospects in the Chinese market? - Management highlighted the importance of the Chinese market for electrification and the successful joint venture in the region, indicating strong future prospects [71][72] Question: What is the guidance for the upcoming earnings? - Management indicated that guidance will be evaluated and announced in early August, citing current market volatility as a factor [76][77]

Summary of Conference Call Company Overview - **Company**: Finia, a spinoff from BorgWarner, specializes in light vehicle fuel injection systems and has a strong presence in commercial and aftermarket businesses. [1][2] Key Industry Insights - **Market Growth**: The fuel injection market is experiencing content growth due to higher adoption of direct injection technologies. The company anticipates mid to high single-digit growth through the decade, particularly in natural gas and alternative fuels for commercial vehicles. [4][5] Financial Performance - **Cash Flow**: Finia targets over 90% free cash flow conversion, highlighting its strong cash flow generation capabilities. [2] M&A Strategy - **Acquisition Focus**: The company recently made a small acquisition aimed at enhancing its commercial vehicle and aftermarket exposure. The acquisition is expected to complement its existing product lines and leverage its engineering capabilities. [3][4][6] - **Valuation Metrics**: The acquisition was made at a multiple of 4.7, compared to Finia's own trading multiple of 5 to 5.5. [5] - **Future M&A Plans**: Finia is open to further acquisitions, particularly those that align with its existing portfolio and provide shareholder value. The company is cautious about pursuing aftermarket assets that do not have manufacturing capabilities. [7][10] Market Position - **Competitive Landscape**: Finia sees itself as one of the two major players in the light vehicle fuel injection market, alongside Bosch. Smaller competitors are exiting the market, which may provide opportunities for Finia to gain market share. [13][19][21] - **Revenue Goals**: The company aims to maintain its light passenger vehicle revenue between $900 million and $1 billion, while growing its aftermarket and commercial vehicle segments. [16] Sales and Revenue Guidance - **Q1 Performance**: The company reported Q1 revenue in line with expectations, despite a typical seasonal softness. The impact of foreign exchange (FX) was noted, with an estimated $80 million effect on revenue. [24][27] - **Commercial Vehicle Outlook**: The commercial vehicle segment is expected to remain flat to slightly up, with year-over-year declines anticipated in Europe and the Americas. [31][32] Tariff Exposure - **Impact of Tariffs**: Finia has experienced a $4 million impact from tariffs in Q1, with plans to pass through costs to customers. Approximately 60% of its revenue from Mexico is USMCA compliant, mitigating some tariff impacts. [36][39] Aftermarket Strategy - **Aftermarket Growth**: The company aims to increase its aftermarket revenue, currently at 34%, to over 40%. It has a billion-dollar aftermarket distribution network that supports this growth. [9][11] Technological Developments - **Powertrain ECU Development**: Finia is developing its own powertrain ECUs to provide a complete system offering to customers, with a focus on nonrecurring engineering support. [75][76] - **Aerospace and Defense Opportunities**: The company is entering the aerospace sector, supplying fuel injection components, with aspirations to grow this segment significantly by 2030. [78][79] Market Trends - **GDI Penetration**: Gasoline Direct Injection (GDI) penetration is currently around 65-70%, with expectations for continued growth in various global markets, including South America and India. [56][57] - **Battery Electric Vehicles (BEVs)**: The company anticipates that BEV penetration will plateau at around 25-35%, indicating a sustained demand for combustion engines. [60][64] Conclusion - **Long-term Vision**: Finia is focused on maintaining a balanced portfolio with a strong emphasis on aftermarket and commercial vehicle segments, while strategically navigating market challenges and opportunities for growth. [70][73]

Core Viewpoint - Motorcar Parts of America, Inc. is conducting its Q4 2025 earnings conference call, indicating a focus on financial performance and future outlook for the company [1]. Company Participants - The conference call features key company executives including Selwyn H. Joffe (Chairman, President & CEO), David Lee (Chief Financial Officer), and Gary S. Maier (Vice President of Corporate Communications and Investor Relations) [1][2]. Conference Call Structure - The call is structured to provide insights into the company's financial results and future expectations, with a reminder of the safe harbor statement regarding forward-looking statements [2][3].

Financial Data and Key Metrics Changes - Net sales increased by 5.5% to a record $757 million for fiscal year 2025, with fourth-quarter net sales rising by 1.9% to $193.1 million [20][21] - Gross profit for fiscal year 2025 increased by 16.1% to a record $153.8 million, with fourth-quarter gross profit rising by 10.6% to $38.5 million [20][21] - Cash flow from operating activities was $45.5 million, and net bank debt was reduced by $32.6 million to $81.4 million [20][28] - The company repurchased 542,134 shares for $4.8 million at an average price of $8.91 [7][20] Business Line Data and Key Metrics Changes - The hard parts business, particularly in rotating electrical components, continues to perform well, driven by the non-discretionary nature of products [9][10] - Brake-related applications are the second-largest product category, showing strong performance supported by quality and customer service [10][18] - The diagnostic business is experiencing growth, particularly with the JBT-one benchtop tester, which is expected to generate additional service-related revenue [14][15] Market Data and Key Metrics Changes - The average age of U.S. light vehicles has risen to 12.8 years, leading to increased replacement opportunities [10] - Vehicle registrations in 2024 surpassed 16 million for the first time since 2019, exceeding scrappage rates [10] - The company is gaining momentum in the Mexican market, with increased demand for aftermarket parts [14] Company Strategy and Development Direction - The company is focused on reducing dependency on Chinese supply chains, with less than 25% of products sourced from China [8][32] - Strategies are in place to enhance competitive edge, including direct shipping from factories to mitigate tariff impacts [33] - The company aims to leverage its strong market position and operational efficiencies to drive sales growth and margin improvement [12][18] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about future growth, citing favorable long-term industry dynamics for non-discretionary aftermarket parts [15][49] - The company expects continued organic growth supported by favorable market conditions and operational efficiencies [17][28] - Tariffs are seen as a challenge, but management believes they can be offset through pricing strategies and operational adjustments [16][42] Other Important Information - The company experienced a net loss of $19.5 million for fiscal year 2025, primarily due to non-cash expenses and one-time cash expenses [26][27] - EBITDA for fiscal year 2025 was $50.3 million, impacted by non-cash and one-time cash expenses [27] - The company expects net sales for fiscal year 2026 to be between $780 million and $800 million, representing year-over-year growth of 3.5% to 5.6% [28] Q&A Session Summary Question: How do tariffs potentially help market share? - Management indicated that they have adjusted their supply chain to be less dependent on China, which positions them favorably compared to competitors who may face higher cash requirements due to tariffs [32][33] Question: Impact of customer price increases on gross margin? - Management acknowledged that while tariffs may slightly negatively impact gross margin, other initiatives to expand gross margin should offset this effect [35][36] Question: Clarification on tariff impacts and price increases? - Management noted that the timing of tariff impacts is unpredictable but expects that most price increases have been accepted [42][44] Question: Expected margin expansion catalysts? - Management highlighted initiatives focused on lowering costs per unit and increasing sales per unit as key drivers for margin expansion [45][46]

Summary of PHINIA (PHIN) 2025 Conference Call Company Overview - **Company**: PHINIA (PHIN) - **Market Capitalization**: Approximately $2 billion - **Industry**: Automotive parts supplier, focusing on light vehicles, commercial vehicles, and aftermarket parts Key Points and Arguments Industry Performance - **Quarterly Performance**: The company remains comfortable with its full-year guidance despite some volatility in the North American market, which is a small percentage of its overall business [2][4] - **Regional Performance**: Europe, Asia, and South America are performing well, with strong aftermarket sales in North America [3][4] - **Aftermarket Strength**: There has been a slight increase in aftermarket strength in North America, attributed to organizational changes and new product introductions [7][10] Customer Dynamics - **Customer Production Schedules**: No significant changes in customer production schedules were noted, with consistent order boards across customers [5][14] - **Long-term Customer Conversations**: Ongoing discussions with customers about extending current programs and exploring new hybrid and plug-in hybrid programs that still require combustion engine components [17][21][31] Competitive Landscape - **Market Position**: The company has gained market share as competitors exit the market due to the capital-intensive nature of direct injection technology [35][39] - **Technology Gap**: Competitors may struggle to catch up due to a loss of engineering talent and expertise, creating a significant technology gap [46] Financial Outlook - **Tariff Impact**: The company experienced a $4 million tariff impact in Q1, with expectations for recovery through customer negotiations [48][50] - **EBITDA Guidance**: The company reiterated its EBITDA guidance, indicating a need for cost savings to achieve the projected run rate [59][62] - **Cash Management**: The company maintains a conservative cash reserve strategy, with a target of $200-$225 million in minimum cash [101] M&A and Capital Allocation - **Share Repurchase Program**: The company has repurchased approximately $100 million worth of stock and has $300 million remaining in its share repurchase program [104] - **M&A Strategy**: The company is selective in pursuing M&A opportunities, focusing on assets that align with its core competencies and long-term strategy [110][112] Future Trends - **Combustion Engine Longevity**: The company believes that combustion engines will remain relevant longer than previously expected, with continued demand in certain markets [33][78] - **USMCA Compliance**: The company is preparing for potential changes in USMCA compliance requirements, with a focus on maintaining flexibility in its manufacturing footprint [91][96] Additional Important Insights - **Technological Advancements**: The company is actively developing next-generation technologies for various fuel types, including ethanol and hydrogen, to meet evolving market demands [32][33] - **Flexibility in Manufacturing**: The company has demonstrated the ability to adapt its manufacturing capabilities to meet changing market needs, including converting production lines for different applications [118][119] This summary encapsulates the key insights and discussions from the PHINIA conference call, highlighting the company's performance, strategic direction, and market outlook.

Champfromier, Wednesday, May 28, 2025 PUBLICATION OF ANNUAL FINANCIAL REPORT ONCE AGAIN POSTPONED AKWEL (FR0000053027, AKW, PEA eligible), a systems supplier to the automotive and truck industries, specializing in fluid management, mechanisms and structural parts for electric vehicles, has once again postponed publication of its annual financial report by a few days. The request from the statutory auditors for further auditing of the control procedures implemented at the Ixtaczoquitlan site in Mexico has b ...

Core Insights - LKQ Corporation released its 2024 Sustainability Report, highlighting its commitment to driving success as a leading operator while supporting the global circular economy [1][2] - The company emphasizes a three-pillar strategy focused on sustainable solutions, people-led performance, and strong governance to manage risks and capitalize on opportunities [2][3] Company Achievements - In 2024, LKQ processed 735,000 vehicles and sold nearly 12 million salvaged parts, contributing significantly to the circular economy [5] - The company reduced Scope 1 and Scope 2 greenhouse gas emissions by 16% relative to revenue compared to a 2022 baseline, achieved through renewable energy use and energy efficiency upgrades [5] - LKQ donated over $4 million through its Community Foundation to various charitable causes, enhancing its community engagement and stakeholder relationships [5]

Business Performance & Bookings - The company secured $0.8 billion in new business bookings in Q1 2025 [12, 15] - The company anticipates securing $5.0 billion in bookings for the remainder of 2025 [12] - Asia Pacific accounted for 45% of Q1 bookings, North America 36%, and EMEASA 19% [15] - Bookings from Chinese OEMs represented 61% of the total, while other OEMs accounted for 39% [15] - New/Conquest programs made up 54% of Q1 bookings, with incumbent programs accounting for 46% [15] Program Launches & Product Portfolio - The company launched 23 new programs in Q1 2025, including 14 BEV (Battery Electric Vehicle) programs [7] - 15 programs were launched in the APAC region, and 19 were new/conquest programs [7] - Major program launches in Q1 included Fiat Panda (CEPS), BMW 2-Series Gran Coupe (SPEPS), and Cadillac Vistiq (I-Shafts; Halfshafts) [8] - The company is expanding its "Motion-by-Wire" chassis portfolio, including Rear Wheel Steering (RWS), Hand Wheel Actuator (HWA), and Electro-Mechanical Braking (EMB) [17, 18] Strategic Considerations - The company is navigating a dynamic environment, closely monitoring tariff policies and working to mitigate their impact [20, 21] - The company's supply chain and manufacturing strategy is focused by region, with a majority of Mexico imports to the US being USMCA compliant [20] - The company is strategically expanding into "Motion-by-Wire" chassis control and expects more 'By-Wire' bookings throughout the year [21] - The company is pursuing a strategy for profitable growth, including capitalizing on megatrends, strengthening technology leadership, and optimizing cost structure [22, 23]