SMP Q4 2023: Sales $290.8M (-5.7% YoY), adj. EPS $0.37 vs $0.69; 2024 EBITDA guidance 9.0-9.5%

STANDARD MOTOR PRODUCTS, INC.

2023-FY EPS reported $1.54 revenue$1,358,272,000

Q4 net sales $290.8M vs $308.2M; GAAP EPS $0.32 vs $0.39; adjusted EPS $0.37 vs $0.69.
Full-year sales $1.36B vs $1.37B; GAAP EPS $2.85 vs $3.30; adjusted EPS $2.92 vs $3.59.
Vehicle Control sales -1.7% YoY, Temperature Control -3.8%, Engineered Solutions +4.7%.
Inventory reduced $21.6M to $507.1M; total debt cut $83.6M to $156.2M; net leverage 1.0x.
2024 outlook: flat to low single-digit sales growth; adj. EBITDA 9.0-9.5%; ~$7-8M added DC costs.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

STANDARD MOTOR PRODUCTS, INC. reported the fourth quarter of 2023 results: revenue $290.8 million, net income $7.2 million, EPS $0.32 per diluted share. Guidance initiated.

Period: the fourth quarter of 2023
Revenue: $290.8 million
Net income: $7.2 million
EPS: $0.32 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Net sales for the fourth quarter of 2023 were $290.8 million, compared to consolidated net sales of $308.2 million during the same quarter in 2022. Earnings from continuing operations for the fourth quarter of 2023 were $7.2 million or $0.32 per diluted share, compared to $8.5 million or $0.39 per diluted share in the fourth quarter of 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

STANDARD MOTOR PRODUCTS, INC. reported the twelve months ended December 31, 2023 results: revenue $1.36 billion, net income $63.1 million, EPS $2.85 per diluted share. Guidance initiated.

Period: the twelve months ended December 31, 2023
Revenue: $1.36 billion
Net income: $63.1 million
EPS: $2.85 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Consolidated net sales for the twelve months ended December 31, 2023, were $1.36 billion, compared to consolidated net sales of $1.37 billion during the comparable period in 2022. Earnings from continuing operations for the twelve months ended December 31, 2023, were $63.1 million or $2.85 per diluted share, compared to $73.0 million or $3.30 per diluted share in the comparable period of 2022.

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Source: SEC EDGAR

accession 0001140361-24-008945

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