SMP Q3 2021 net sales $370.3M (+7.8% YoY); EPS $1.29 vs $1.59; record YTD earnings; new buyback

STANDARD MOTOR PRODUCTS, INC.

2021-Q3 EPS reported $3.18 revenue$988,939,000

Q3 net sales $370.3M vs $343.6M YoY; GAAP diluted EPS $1.29 vs $1.59; adjusted EPS $1.32.
YTD net sales $988.9M (+16.9% YoY); earnings from cont ops $79.3M ($3.50/diluted share), record levels.
Acquired Stabil (European OE sensors) on Sep 1, third acquisition in 2021; non-aftermarket sales approaching $300M run rate.
Board authorized $30M stock repurchase plan; Q3 repurchases $15.4M; quarterly dividend $0.25/share payable Dec 1 to holders of record Nov 15.
Gross margin compressed from cost increases in raw materials, labor, transportation; company plans to pass on costs in Q4.

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