Standard Motor ProductsNYSE: SMP

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.

Although the revenue and EPS for Standard Motor Products (SMP) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

NEW YORK , July 29, 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 six months ended June 30, 2024, on Thursday, August 1, 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 Thursday, August 1, 2024.

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.

Standard Motor (SMP) agrees to acquire Nissens to expand its range of powertrain-neutral products, reduce costs and increase revenues.

Creates a global leader for aftermarket parts supply with a comprehensive product offering across vehicle control and thermal control products Expands SMP's portfolio of powertrain-neutral product categories Purchase price of $388 million represents approximately 7.5x EBITDA multiple inclusive of estimated run-rate cost synergies Will be immediately and meaningfully accretive in the first full year of the transaction $8-12M in estimated run-rate cost synergies within 24 months, with additional opportunity for meaningful revenue synergies NEW YORK , July 10, 2024 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, announced it has reached a definitive agreement to acquire 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, for approximately $388 million (€360 million) in cash from Nordic private equity firm Axcel and the Nissen family. Nissens has annual revenues of approximately $260 million with a mid-teens EBITDA margin rate.

Standard Motor Products, Inc. (SMP) is excited to release its 2023 Corporate Sustainability Report, showcasing its dedication to being a responsible corporate entity and improving its sustainability efforts. The report outlines SMP's projects, objectives, and successes in various areas including business operations, employee relations, community engagement, and stakeholder partnerships.