Welcome to our dedicated news page for Standard Motor Products (Ticker: SMP), a resource for investors and traders seeking the latest updates and insights on Standard Motor Products.
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Standard Motor Products, Inc. reported its first quarter 2024 financial results, with net sales of $331.4 million, a slight increase from the previous year. Earnings per share were $0.44, down from $0.57 in 2023. The company experienced mixed results across segments, with sales improvements in Vehicle Control and Engineered Solutions, but a decline in Temperature Control. Adjusted EBITDA margin was 6.9% due to cost pressures. Full-year sales growth is expected to be flat to low single digits, with Adjusted EBITDA projected at 9.0% to 9.5%. The company is investing in a new distribution center in Shawnee, KS, with additional costs expected in 2024.
Standard Motor Products, Inc. (NYSE: SMP) will report its earnings for the first quarter of 2024 on May 1, 2024. The earnings conference call will be held at 11:00 AM Eastern Time on the same day, accessible via webcast or phone. Investors can listen to the call by visiting the Investor Relations page of the company's website or by dialing the provided numbers.
