SMP Q4 EPS $0.39 ($0.69 adj); FY sales $1.37B (+5.6%); announces segment changes

STANDARD MOTOR PRODUCTS, INC.

2022-FY EPS reported $2.50 revenue$1,371,815,000

Q4 net sales $308.2M (flat YoY); GAAP EPS $0.39 vs $0.89; adjusted EPS $0.69 vs $0.90.
Full-year 2022 sales $1.37B (+5.6% YoY); GAAP EPS $3.30 vs $4.39; adjusted EPS $3.59 vs $4.45.
Recorded $7.0M pre-tax charge from customer bankruptcy filing in Q4.
New Engineered Solutions segment (non-Aftermarket) and Engine Management renamed Vehicle Control; reporting starts Q1 2023.
2023 outlook: low single-digit sales growth, Adjusted EBITDA ~10%.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

STANDARD MOTOR PRODUCTS, INC. reported the twelve months ended December 31, 2022 results: revenue $1.37 billion, net income $73.0 million, EPS $3.30 per diluted share. Guidance initiated.

Period: the twelve months ended December 31, 2022
Revenue: $1.37 billion
Net income: $73.0 million
EPS: $3.30 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Consolidated net sales for the twelve months ended December 31, 2022, were $1.37 billion, compared to consolidated net sales of $1.30 billion during the comparable period in 2021. Earnings from continuing operations for the twelve months ended December 31, 2022, were $73.0 million or $3.30 per diluted share

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

STANDARD MOTOR PRODUCTS, INC. reported the fourth quarter of 2022 results: revenue $308.2 million, net income $8.5 million, EPS $0.39 per diluted share. Guidance initiated.

Period: the fourth quarter of 2022
Revenue: $308.2 million
Net income: $8.5 million
EPS: $0.39 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Net sales for the fourth quarter of 2022 were $308.2 million, compared to consolidated net sales of $309.9 million during the same quarter in 2021. Earnings from continuing operations for the fourth quarter of 2022 were $8.5 million or $0.39 per diluted share

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Source: SEC EDGAR

accession 0001140361-23-007947

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