SMP 8-K: Standard Motor Products Q3 GAAP EPS $1.06 vs $1.29; Revenue $381.4M up 3%

Standard Motor Products Q3 GAAP EPS $1.06 vs $1.29; Revenue $381.4M up 3%

STANDARD MOTOR PRODUCTS, INC.

2022-Q3 EPS reported $2.14 revenue$1,063,616,000

Net sales $381.4M (+3% YoY); GAAP EPS $1.06 vs $1.29; adjusted EPS $1.05 vs $1.32.

Nine-month sales $1.06B (+7.2%); GAAP EPS $2.91 vs $3.50; adjusted EPS $2.90 vs $3.54.

Quarterly dividend $0.27/share declared, payable Dec 1, 2022 to holders of record Nov 15.

Acquired Kade Trading GmbH ($6M sales) for European temperature control entry.

Full-year guidance unchanged: gross margin ~27%, operating profit 7%-8% of sales.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

STANDARD MOTOR PRODUCTS, INC. reported three and nine months ended September 30, 2022 results: revenue Net sales for the third quarter of 2022 were $381.4 million, compared to consolidated net sales of $370.3 million during, net income Earnings from continuing operations for the third quarter of 2022 were $23.1 million or $1.06 per diluted share, compare, EPS $1.06 per diluted share. Guidance reaffirmed.

Period: three and nine months ended September 30, 2022
Revenue: Net sales for the third quarter of 2022 were $381.4 million, compared to consolidated net sales of $370.3 million during
Net income: Earnings from continuing operations for the third quarter of 2022 were $23.1 million or $1.06 per diluted share, compare
EPS: $1.06 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

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 September 30, 2022. Net sales for the third quarter of 2022 were $381.4 million, compared to consolidated net sales of $370.3 million during the comparable quarter in 2021. Earnings from continuing operations for the third quarter of 2022 were $23.1 million or $1.06 per diluted share, compared to $29.2 million or $1.29 per diluted share in the third quarter of 2021.

View on SEC.gov