SMP Q3 2023: EPS $1.12, sales $386.4M; declares $0.29 dividend

STANDARD MOTOR PRODUCTS, INC.

2023-Q3 EPS reported $1.25 revenue$1,067,516,000

Q3 net sales $386.4M (+1.3% YoY); earnings from cont. ops $24.9M ($1.12 diluted EPS).
Adjusted EPS $1.11 vs $1.05 last year; non-GAAP operating margin 9.1% (+30 bps).
Temperature Control sales +5.3%; Engineered Solutions +8.4%; Vehicle Control -3.4%.
Inventory down to $479.8M from $528.7M year-end 2022; debt reduced by $75.6M in Q3.
FY 2023 guidance: flat to low-single digit sales growth; adj. EBITDA ~9.5% of revenue.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

STANDARD MOTOR PRODUCTS, INC. reported three and nine months ended September 30, 2023 results: revenue $386.4 million, net income $24.9 million, EPS $1.12 per diluted share.

Period: three and nine months ended September 30, 2023
Revenue: $386.4 million
Net income: $24.9 million
EPS: $1.12 per diluted share
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, 2023. Net sales for the third quarter of 2023 were $386.4 million

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Source: SEC EDGAR

accession 0001140361-23-049860

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