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Sep 30, 2024
SMP Q3 2024 Earnings Report
Reported a net sales increase and adjusted diluted earnings per share growth.
Key Takeaways
Standard Motor Products reported a 3.3% increase in net sales, reaching $399.3 million, and a 15% increase in adjusted diluted earnings per share to $1.28 for the third quarter of 2024. All three operating segments showed sales increases. The acquisition of Nissens Automotive is expected to close soon.
Net sales increased by 3.3% to $399.3 million.
Adjusted diluted earnings per share rose by 15% to $1.28.
Adjusted EBITDA increased by 80 basis points to 12.2%.
Nissens Automotive acquisition is expected to close in the near future.
Revenue by Segment
Forward Guidance
The company anticipates sales growth in the low- to mid-single digits, and Adjusted EBITDA will be in a range of 9.0-9.5% for the full year of 2024.
Positive Outlook
- North American aftermarket fundamentals remain strong.
- Engineered Solutions business is hitting its stride.
- New distribution center is coming online.
- Nissens is soon to be on-board.
- Excited about where the company is headed.
Challenges Ahead
- Degree of uncertainty across a variety of external factors.
- Expenses related to customer factoring programs will be roughly $48-$50 million.
- Impact of startup costs.
- Duplicate overhead expense associated with the new distribution center in Shawnee, KS.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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