Welcome to our dedicated page for Standard Motor Products news (Ticker: SMP), a resource for investors and traders seeking the latest updates and insights on Standard Motor Products stock.
Standard Motor Products (NYSE: SMP) is a leading independent manufacturer of automotive replacement parts, serving the global aftermarket with engine management and temperature control solutions. This page provides direct access to SMP's official news releases and strategic updates.
Investors and industry professionals will find comprehensive coverage of SMP's financial announcements, product developments, and operational milestones. Our curated feed includes earnings reports, acquisition updates, leadership changes, and innovations in vehicle thermal management systems.
Key news categories include quarterly financial results, strategic partnerships, manufacturing expansions, and industry recognition. All content is sourced directly from SMP's corporate communications to ensure accuracy and timeliness.
Bookmark this page for streamlined access to SMP's latest developments in the automotive aftermarket sector. Check regularly for updates impacting vehicle repair technologies and global distribution networks.
Standard Motor Products, Inc. (NYSE: SMP) announced the acquisition of 100% of Trumpet Holdings, Inc. (Trombetta) for $108 million, expected to be accretive to earnings in 2021. Trombetta, generating approximately $60 million in annual revenue, specializes in power management products for various markets, with facilities in the U.S. and a joint venture in China. The acquisition aligns with SMP's strategy to expand into related markets and enhance its capabilities in the aftermarket sector, leveraging Trombetta's manufacturing and engineering strengths.
Standard Motor Products (NYSE: SMP) reported consolidated net sales of $276.6 million for Q1 2021, up 8.7% from $254.3 million in Q1 2020. Earnings from continuing operations rose to $22.2 million or 97 cents per diluted share, compared to $9.6 million or 42 cents in the previous year. The company will distribute a quarterly dividend of 25 cents per share on June 1, 2021. Key factors include strong demand in Temperature Control sales, up 21.4%, despite facing inflationary pressures. Management expresses confidence in continued growth and new business prospects.
Standard Motor Products, Inc. (NYSE: SMP) will report its earnings for Q1 2021 on May 5, 2021, before the market opens. A conference call is scheduled for the same day at 11:00 AM EDT, allowing investors to engage with company representatives. This upcoming earnings release may provide insights into the company’s financial performance during a challenging market period, helping investors gauge future prospects.
Standard Motor Products, Inc. (NYSE: SMP) has acquired certain assets and liabilities of the particulate matter sensor business from Stoneridge, Inc. This segment generates approximately $12-14 million in annual revenue, with manufacturing previously located in Lexington, OH and Tallin, Estonia. SMP plans to relocate all production to its existing facilities, with full integration expected within 12 months. This acquisition aligns with SMP's strategy to expand into the original equipment heavy-duty market, enhancing their emissions control technology portfolio.
Standard Motor Products (SMP) reported its Q4 2020 financial results, achieving consolidated net sales of $282.7 million, up from $241.3 million in Q4 2019. Earnings from continuing operations were $22.7 million or $1.00 per diluted share, compared to $12.7 million or $0.56 per diluted share last year. For the full year, net sales reached $1,128.6 million, slightly below $1,137.9 million in 2019, but full-year earnings rose to $80.4 million or $3.52 per share. The company announced a quarterly dividend of 25 cents per share and plans to repurchase up to $26.5 million of stock.
Standard Motor Products (NYSE: SMP) will report its earnings for Q4 and the full year 2020 on February 23, 2021, before market opening. The conference call is scheduled for 11:00 AM ET on the same day. Investors can join via domestic dial-in number 888-632-3389 or international 785-424-1674. The playback options are also provided for future reference. This earnings report will provide insights into the company's performance and financial metrics from the previous fiscal year.
Standard Motor Products announces a quarterly common stock dividend of 25 cents per share, payable on March 1, 2021. Shareholders of record will be entitled to this dividend as of February 16, 2021. The Board of Directors' decision reflects the company’s commitment to returning value to its shareholders. However, the company also reminds investors that forward-looking statements are subject to risks and uncertainties that could impact actual performance.
Standard Motor Products (SMP) awarded four students with $5,000 scholarships each in its annual Blue Streak® 'Better Then, Better Now' Automotive Scholarship Contest. Winners include Jade Etchart, Ndayishimiye Bisamaza, Mario Zaragoza, and Mikel Cole. The competition drew hundreds of participants, and the awards aim to support future automotive technicians by covering education costs in automotive technology or repair. SMP, a leader in automotive replacement parts, has a legacy of over 100 years, supplying quality parts globally.
Standard Motor Products reported consolidated net sales of $343.6 million for Q3 2020, up from $307.7 million in Q3 2019. Earnings from continuing operations were $36.2 million or $1.59 per diluted share, compared to $22.7 million or $1.00 per diluted share last year. For the first nine months, net sales were $845.9 million versus $896.7 million in 2019. The company reinstated a quarterly dividend of $0.25 per share, payable on December 1, 2020. CEO Eric Sills expressed optimism for future sales growth despite ongoing pandemic challenges.
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