Standard Motor Products Q1 EPS $0.44 vs $0.57 YoY; sales up 1%; reaffirms FY adj EBITDA margin 9-9.5%

STANDARD MOTOR PRODUCTS, INC.

2024-Q1 EPS reported $0.39 revenue$331,403,000

Net sales $331.4M (+1% YoY); GAAP diluted EPS $0.44 vs $0.57; adj EPS $0.45 vs $0.61.
Adjusted EBITDA margin 6.9% (8.8% Q1 2023); included $1.1M start-up costs for new Shawnee DC.
Engineered Solutions sales up 4.5% to record; Vehicle Control +0.5%; Temperature Control -1.1%.
Full-year outlook: sales flat to low single digit, adj EBITDA 9-9.5%; capex ~$25M.
Quarterly dividend $0.29/share payable June 3; $6.1M in share repurchases YTD; $23.9M remaining.

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 0.9

STANDARD MOTOR PRODUCTS, INC. reported the three months ended March 31, 2024 results: revenue $331.4 million, net income $9.9 million, EPS $0.44 per diluted share. Guidance reaffirmed.

Period: the three months ended March 31, 2024
Revenue: $331.4 million
Net income: $9.9 million
EPS: $0.44 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 months ended March 31, 2024. Net sales for the first quarter of 2024 were $331.4 million, compared to consolidated net sales of $328.0 million during the comparable quarter in 2023. Earnings from continuing operations for the first quarter of 2024 were $9.9 million or $0.44 per diluted share, compared to $12.7 million or $0.57 per diluted share in the first quarter of 2023.

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Source: SEC EDGAR

accession 0001140361-24-023629

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