Core Insights - Standard Motor Products (SMP) reported revenue of $343.35 million for the quarter ended December 2024, reflecting an 18.1% increase year-over-year [1] - The earnings per share (EPS) for the quarter was $0.47, up from $0.37 in the same quarter last year [1] - The reported revenue exceeded the Zacks Consensus Estimate of $293.57 million by 16.96%, and the EPS also surpassed the consensus estimate of $0.37 by 27.03% [1] Revenue Breakdown - Vehicle Control segment generated revenues of $187.42 million, exceeding the two-analyst average estimate of $179.94 million [4] - Temperature Control segment reported revenues of $58.01 million, significantly higher than the two-analyst average estimate of $44.45 million [4] - Engineered Solutions segment achieved revenues of $62.18 million, which fell short of the two-analyst average estimate of $68.94 million [4] Stock Performance - Shares of Standard Motor Products have returned -2.5% over the past month, compared to a -2.2% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Viewpoint - Standard Motor Products (SMP) reported quarterly earnings of $0.47 per share, exceeding the Zacks Consensus Estimate of $0.37 per share, and showing an increase from $0.37 per share a year ago, indicating a strong performance in the auto parts sector [1][2]. Financial Performance - The company achieved revenues of $343.35 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 16.96% and up from $290.76 million in the same quarter last year [2]. - Over the last four quarters, SMP has consistently exceeded consensus EPS estimates, achieving this four times [2]. Stock Performance and Outlook - SMP shares have declined approximately 2.2% since the beginning of the year, contrasting with the S&P 500's gain of 1.3% [3]. - The company's future stock performance will largely depend on management's commentary during the earnings call and the trends in earnings estimate revisions [3][4]. Earnings Estimates - The current consensus EPS estimate for the upcoming quarter is $0.54, with expected revenues of $336.96 million, and for the current fiscal year, the estimate is $3.43 on $1.45 billion in revenues [7]. - The estimate revisions trend for SMP is currently mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6]. Industry Context - The Automotive - Replacement Parts industry, to which SMP belongs, is currently ranked in the top 25% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [8].

Financial Performance - Fourth quarter net sales for 2024 were $343.4 million, an increase of 18.1% compared to $290.8 million in the same quarter of 2023[4]. - The acquisition of Nissens contributed $35.7 million in sales during the fourth quarter, with full year net sales reaching $1.46 billion, up 7.8% from $1.36 billion in 2023[4][6]. - Adjusted diluted earnings per share for the fourth quarter were $0.47, up 27.0%, and $3.17 for the full year, an increase of 8.6%[4][6]. - Adjusted EBITDA for the fourth quarter improved to $29.0 million, representing a margin of 8.4%, and full year adjusted EBITDA was 9.6%[11]. - Total revenues for the three months ended December 31, 2024, were $343,352,000, an increase of 18.1% compared to $290,756,000 for the same period in 2023[21]. - Non-GAAP earnings from continuing operations for the three months ended December 31, 2024, were $10,508,000, compared to $8,161,000 for the same period in 2023, reflecting a 28.6% increase[23]. - GAAP operating income for the three months ended December 31, 2024, was $3,880,000, down from $9,947,000 in the same period of 2023[23]. - Non-GAAP diluted earnings per share from continuing operations for the three months ended December 31, 2024, were $0.47, compared to $0.37 for the same period in 2023[23]. - EBITDA without special items for the twelve months ended December 31, 2024, was $140,058,000, compared to $126,667,000 for the same period in 2023[24]. - The percentage of net sales for the consolidated EBITDA without special items was 9.6% for the twelve months ended December 31, 2024, compared to 6.3% in 2023, showing improved profitability[27]. - GAAP earnings from continuing operations before taxes for the twelve months ended December 31, 2024, were $73,989, compared to $81,716 in 2023, indicating a decline[27]. - The company reported a GAAP operating income of $80,624 for the twelve months ended December 31, 2024, compared to $92,677 in 2023, reflecting a decrease[27]. - Interest expense for the twelve months ended December 31, 2024, was $13,512, an increase from $2,521 in 2023, indicating higher borrowing costs[27]. - The company incurred special items totaling $21,144 for the twelve months ended December 31, 2024, which impacted overall financial performance[27]. - Net earnings for the twelve months ended December 31, 2024, were $28,476 thousand, a decrease of 17.1% compared to $34,352 thousand in 2023[30]. Sales and Revenue Segments - Vehicle Control sales increased by 4.9% in the fourth quarter, while Temperature Control sales surged by 30%[7][8]. - Engineered Solutions segment sales declined by 7.9% in the fourth quarter, but the company continues to win new business awards[9]. - Vehicle Control segment revenues for the three months ended December 31, 2024, were $187,418,000, an increase of 4.4% from $178,629,000 in the same period of 2023[21]. - Temperature Control segment revenues for the three months ended December 31, 2024, increased to $58,014,000, up 30.0% from $44,631,000 in the same period of 2023[21]. Expenses and Liabilities - Selling, General & Administrative expenses for the three months ended December 31, 2024, totaled $95,282,000, which is 27.8% of revenues, compared to 24.2% in the same period of 2023[22]. - The company reported acquisition expenses of $12,072,000 for the three months ended December 31, 2024, which negatively impacted GAAP operating income[24]. - The restructuring and integration expenses for the three months ended December 31, 2024, totaled $1,894, compared to $1,259 in the same period of 2023[26]. - Total current liabilities rose to $436,472 thousand in December 2024, compared to $304,263 thousand in December 2023, indicating an increase of 43.5%[29]. - Long-term debt increased to $535,197 thousand in December 2024, up from $151,182 thousand in December 2023, representing a substantial rise of 253.5%[29]. Cash Flow and Assets - Cash and cash equivalents at the end of the period rose to $44,426 thousand, compared to $32,526 thousand at the beginning of the period, marking an increase of 36.5%[30]. - Accounts receivable, net, increased to $210,719 thousand in December 2024 from $160,282 thousand in December 2023, reflecting a growth of 31.4%[29]. - Inventories grew significantly to $624,913 thousand in December 2024, up from $507,075 thousand in December 2023, an increase of 23.2%[29]. - Net cash provided by operating activities decreased to $76,693 thousand in 2024 from $144,260 thousand in 2023, a decline of 46.8%[30]. - The company reported a net cash used in investing activities of $418,683 thousand in 2024, compared to $25,700 thousand in 2023, indicating a significant increase in investment outflows[30]. - The net change in debt for the year was $392,630 thousand, contrasting with a decrease of $83,558 thousand in the previous year, highlighting a shift towards increased borrowing[30]. Future Outlook - The company expects mid-teens sales growth for 2025, largely driven by the Nissens acquisition, with adjusted EBITDA projected between 10.0% and 11.0%[13]. - The integration of Nissens is progressing well, with collaborative efforts underway to identify cost savings and growth opportunities[10]. - Total assets increased to $1,814,126 thousand in December 2024, up from $1,293,047 thousand in December 2023, representing a growth of approximately 40.4%[29].

Core Insights - Standard Motor Products, Inc. reported a strong sales growth in Q4 2024, with net sales reaching $343.4 million, an increase of 18.1% compared to Q4 2023 [3][5][8] - The company experienced a loss from continuing operations of $0.8 million in Q4 2024, contrasting with earnings of $7.2 million in the same quarter of the previous year [3][4] - The acquisition of Nissens Automotive contributed $35.7 million in sales during the two months of ownership in Q4 2024, with overall sales growth of 5.8% excluding this acquisition [5][9] Financial Performance - For the full year 2024, consolidated net sales were $1.46 billion, up 7.8% from $1.36 billion in 2023 [4][8] - Earnings from continuing operations for the full year were $53.6 million or $2.41 per diluted share, down from $63.1 million or $2.85 per diluted share in 2023 [4][10] - Adjusted diluted earnings per share increased by 27% in Q4 and 8.6% for the full year, reaching $0.47 and $3.17 respectively [5][10] Segment Performance - Vehicle Control sales increased by 4.9% in Q4 and 3.3% for the full year, driven by favorable order patterns and strength in non-discretionary categories [5][6] - Temperature Control segment saw a significant sales increase of 30% in Q4 and 12.5% for the full year, indicating robust demand [6][10] - Engineered Solutions segment experienced a 7.9% decline in Q4 sales, although full-year sales were up 1% [7][10] Profitability and Cash Flow - Adjusted EBITDA improved to $29.0 million in Q4 2024, up from $18.3 million in the previous year, with a margin of 8.4% [10] - Total net debt at year-end was $517.9 million, reflecting borrowings related to the Nissens acquisition, with plans to reduce debt levels to below 2.0x by the end of 2026 [11][12] Future Outlook - The company anticipates mid-teens sales growth for 2025, largely due to the Nissens acquisition, with expected Adjusted EBITDA in the range of 10.0-11.0% [12][14] - Integration plans for Nissens are underway, with expectations for cost savings and growth opportunities [9][14] - A quarterly dividend payment of 31 cents per share has been approved, reflecting confidence in future performance [13]

Core Viewpoint - Standard Motor Products, Inc. is set to report its earnings for the fourth quarter and the full year of 2024 on February 27, 2025, before market opening [1]. Group 1: Earnings Report - The earnings report will cover the three months and twelve months ended December 31, 2024 [1]. - The report is anticipated to provide insights into the company's financial performance and operational metrics for the specified periods [1]. Group 2: Conference Call Details - A conference call is scheduled for February 27, 2025, at 11:00 AM Eastern Time to discuss the earnings report [2]. - The call will be accessible via webcast on the company's website and through dial-in options for both domestic and international investors [2]. - Playback of the conference call will be available immediately after the call, with specific numbers provided for domestic and international listeners [2].

Core Viewpoint - Standard Motor Products, Inc. has launched a newly redesigned corporate website aimed at enhancing user experience and providing resources for investors [1][7]. Group 1: Website Features - The new website is optimized for speed and compatibility across desktop, tablet, and mobile devices, allowing users to quickly locate information [1][2]. - The homepage serves as a super dashboard, showcasing the latest news and an SMP stock ticker, along with a user guide featuring six paths for easy navigation [3]. - A Corporate Overview panel highlights the company's commitment to sustainability and its various operating segments, including Aftermarket Vehicle Control and Engineered Solutions [4]. Group 2: Navigation and Resources - Interactive navigation menus provide quick access to investor resources, including a stock ticker, frequently asked questions, and pre-filtered financial documents [5]. - The website includes a comprehensive search function organized by categories such as financial documents, news, and team members [5]. - A dedicated section for SMP Leadership introduces Executive Officers and the Board of Directors, while a Financial Information page consolidates all financial documents [6]. Group 3: Company Background - Standard Motor Products, Inc. has over 100 years of experience as a leading independent manufacturer and distributor of premium replacement parts in the automotive aftermarket [8]. - The company sells products primarily to retailers, warehouse distributors, and original equipment manufacturers across various regions, including the United States, Canada, and Europe [8].

Core Point - Standard Motor Products, Inc. has announced an increase in its quarterly common stock dividend from $0.29 to $0.31 per share, reflecting a positive outlook for the company [1] Company Summary - The Board of Directors of Standard Motor Products, Inc. approved the dividend increase, which will be payable on March 3, 2025 [1] - The record date for shareholders to receive the dividend is February 14, 2025 [1] Industry Context - As a leading automotive parts manufacturer and distributor, Standard Motor Products, Inc. is positioned to benefit from ongoing demand in the automotive sector [1]

NEW YORK, Dec. 19, 2024 /PRNewswire/ -- Standard Motor Products, Inc. (SMP) is pleased to announce that it released a total of 2,367 new part numbers in 2024, including introductions from SMP's Vehicle Control and Temperature Control divisions. New coverage for late-model import and domestic vehicles was added across all powertrains, including advanced internal combustion engine (ICE), hybrid and electric. New coverage for late-model import and domestic vehicles was added across all powertrains, includi ...

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NEW YORK, Dec. 5, 2024 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP) is proud to share that it has again been recognized as one of America's Most Responsible Companies 2025 by Newsweek and Statista. SMP is honored to be one of only 21 companies in the automotive and components sector included in this list. Companies are recognized for continued effort and results within all aspects of Sustainability - Environmental, Social and Corporate Governance. This recognition reflects SMP's commitment to b ...