SMP(SMP) Prnewswire·2025-02-27 13:30Core Insights - Standard Motor Products, Inc. reported a strong sales growth in Q4 2024, with net sales reaching 0.8 million in Q4 2024, contrasting with earnings of 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 1.36 billion in 2023 [4][8] - Earnings from continuing operations for the full year were 2.41 per diluted share, down from 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 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 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]