SMP Stock Recent News

Standard Motor Products, a producer and distributor of automotive parts, has seen its stock rise nicely since my last 'buy' rating in June. The company's Q2 revenue increased by 10.4%, driven by a 28.2% surge in its Temperature Control segment due to early summer orders. Despite revenue growth, net income slightly dropped, and other profitability metrics were mixed, but the company remains attractively priced on key multiples.

SMP's balance sheet and acquisition strength, coupled with sustainable demand for automotive parts, make the stock worth retaining.

Standard Motor Products, Inc. (NYSE:SMP ) Q2 2024 Earnings Conference Call August 1, 2024 11:00 AM ET Company Participants Tony Cristello – Vice President-Investor Relations Eric Sills – Chairman and Chief Executive Officer Nathan Iles – Chief Financial Officer Conference Call Participants Scott Stember – ROTH MKM Bret Jordan – Jefferies Carolina Jolly – Gabelli Operator Good day, everyone, and welcome to the Standard Motor Products Second Quarter 2024 Earnings Call. At this time all participants are in a listen-only mode.

Standard Motor (SMP) reports better-than-expected second-quarter results and expects sales growth to be low- to mid-single digit compared with the previous forecast of flat to low-single digit.

Although the revenue and EPS for Standard Motor Products (SMP) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Standard Motor Products (SMP) came out with quarterly earnings of $0.98 per share, beating the Zacks Consensus Estimate of $0.78 per share. This compares to earnings of $0.84 per share a year ago.

NEW YORK , Aug. 1, 2024 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, reported today its consolidated financial results for the three and six months ended June 30, 2024. Net sales for the second quarter of 2024 were $389.8 million, compared to consolidated net sales of $353.1 million during the comparable quarter in 2023.

NEW YORK , July 29, 2024 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, is scheduled to report its earnings for the three months and six months ended June 30, 2024, on Thursday, August 1, 2024, before the opening of the stock market. Conference Call Standard Motor Products, Inc. will hold a conference call at 11:00 AM, Eastern Time, on Thursday, August 1, 2024.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Standard Motor (SMP) agrees to acquire Nissens to expand its range of powertrain-neutral products, reduce costs and increase revenues.