Standard Motor ProductsNYSE: SMP

SMP's third-quarter earnings and revenues beat the Zacks Consensus Estimate and increase year over year.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

NEW YORK , Nov. 1, 2024 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, today announced the completion of the previously-announced acquisition of AX V Nissens III APS ("Nissens"), a leading European manufacturer and distributor of aftermarket engine cooling and air conditioning products with a growing array of vehicle control technologies.  Under the terms of the agreement, SMP has acquired all the issued and outstanding shares of Nissens for approximately $390 million (€360 million), net of cash and assumed debt and subject to post-closing adjustments, from Nordic private equity firm Axcel and the Nissen family.

Standard Motor Products, Inc. (NYSE:SMP ) Q3 2024 Results Conference Call October 30, 2024 11:00 AM ET Company Participants Tony Cristello - Vice President-Investor Relations Eric Sills - Chairman and Chief Executive Officer Nathan Iles - Chief Financial Officer Conference Call Participants Scott Stember - ROTH MKM Carolina Jolly - Gabelli Operator Good day, everyone, and welcome to the Standard Motor Products' Third Quarter 2024 Earnings Call. [Operator Instructions] Please note today's call will be recorded [Operator Instructions].

Net Sales of $399.3M, up 3.3%, with all three operating segments showing increases Adjusted diluted earnings per share of $1.28, up 15% Adjusted EBITDA up 80 basis points to 12.2% Nissens Automotive acquisition expected to close in near future Full year guidance remains unchanged NEW YORK , Oct. 30, 2024 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, reported today its consolidated financial results for the three and nine months ended September 30, 2024. Net sales for the third quarter of 2024 were $399.3 million, compared to consolidated net sales of $386.4 million during the comparable quarter in 2023.

NEW YORK , Oct. 25, 2024 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, is scheduled to report its earnings for the three months and nine months ended September 30, 2024, on Wednesday, October 30, 2024, before the opening of the stock market. Conference Call Standard Motor Products, Inc. will hold a conference call at 11:00 AM, Eastern Time, on Wednesday, October 30, 2024.

NEW YORK , Sept. 17, 2024 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, announced today it has entered into a new five-year $750 million credit facility, with JPMorgan Chase Bank, N.A.

Standard Motor Products, a producer and distributor of automotive parts, has seen its stock rise nicely since my last 'buy' rating in June. The company's Q2 revenue increased by 10.4%, driven by a 28.2% surge in its Temperature Control segment due to early summer orders. Despite revenue growth, net income slightly dropped, and other profitability metrics were mixed, but the company remains attractively priced on key multiples.

SMP's balance sheet and acquisition strength, coupled with sustainable demand for automotive parts, make the stock worth retaining.