NYSE$SMP
Standard Motor Products Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
SMP experienced mixed results with record-setting top line performance and increased sales, but profitability was dragged down by cost headwinds.
Standard Motor Products reported a 1% increase in net sales to $331.4 million, but earnings from continuing operations decreased to $9.9 million or $0.44 per diluted share. The company experienced headwinds across various cost inputs, which negatively impacted profitability. The company anticipates sales growth will be flat to low single digits, and Adjusted EBITDA will be in a range of 9.0% to 9.5%.
- Net sales increased by 1% to $331.4 million compared to Q1 2023.
- Earnings from continuing operations decreased to $9.9 million, or $0.44 per diluted share.
- Engineered Solutions sales increased 4.5% over last year’s first quarter, setting a single quarter record for this segment.
- The Board of Directors has approved payment of a quarterly dividend of 29 cents per share.
Headline financials
Revenue & EPS history
SMP · Revenue · Quarterly
$331M
Revenue by segment
SMP · $386M total across 3 segments · Q3 2023
- Vehicle Control$191M—49.4%
- Temperature Control$124M—32.0%
- Engineered Solutions$71.8M—18.6%
Forward guidance
The company anticipates sales growth will be flat to low single digits, and Adjusted EBITDA will be in a range of 9.0% to 9.5%.
Tailwinds
- Sales growth is expected to be flat to low single digits.
- Adjusted EBITDA is anticipated to be in a range of 9.0% to 9.5%.
- New distribution center will provide expanded capacity for future growth.
- New distribution center will mitigate risk through a multi-point distribution strategy.
- New distribution center will improve product delivery times in certain geographies.
Headwinds
- Roughly $5 million of added costs in 2024 as compared to 2023 for our new distribution center in Shawnee, KS.
- Anticipate approximately $25 million in capital expenditures as we outfit the new facility.
- Near-term cost pressures persist.
- Inflationary cost increases.
- Some unfavorable changes in mix of sales.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-0.5%
Avg return
Earnings day
-0.5%
Avg return
5 days after
-1.4%
Avg return
30 days after
43%
28 / 65 earnings
Positive
+24.2%
Q2 2012
Best reaction
-19.6%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.3% | +6.0% | +6.1% | |
| Q4 2025 | -8.7% | -9.6% | -16.9% | |
| Q3 2025 | -2.7% | -6.9% | -5.9% | |
| Q1 2025 | +11.2% | +15.4% | +24.4% | |
| Q4 2024 | -5.5% | -6.8% | -17.8% | |
| Q3 2024 | +12.3% | +13.0% | +14.7% | |
| Q2 2024 | -0.1% | -6.0% | -1.3% | |
| Q1 2024 | +0.2% | +1.1% | -4.3% | |
| Q4 2023 | -16.8% | -17.4% | -17.5% | |
| Q3 2023 | +8.6% | +11.3% | +11.8% | |
| Q2 2023 | -6.0% | -0.6% | -2.6% | |
| Q1 2023 | +0.1% | +3.0% | +4.0% | |
| Q4 2022 | -1.1% | -2.9% | -10.5% | |
| Q3 2022 | +2.5% | -1.4% | +5.3% | |
| Q2 2022 | -19.6% | -18.8% | -23.1% | |
| Q1 2022 | -1.6% | -5.5% | -3.9% | |
| Q4 2021 | -9.1% | -8.6% | -7.5% | |
| Q3 2021 | +0.9% | +2.8% | +8.1% | |
| Q2 2021 | +0.0% | +1.3% | +0.4% | |
| Q1 2021 | +6.7% | +6.4% | +7.7% | |
| Q4 2020 | -3.4% | -1.1% | +0.8% | |
| Q3 2020 | +0.9% | +0.8% | +1.3% | |
| Q2 2020 | +17.5% | +18.0% | +17.4% | |
| Q1 2020 | -6.8% | -12.4% | -2.5% | |
| Q4 2019 | +1.9% | -6.7% | -26.6% | |
| Q3 2019 | +1.7% | +4.9% | -2.2% | |
| Q2 2019 | +2.1% | +0.5% | -4.2% | |
| Q1 2019 | -7.3% | -2.4% | -14.8% | |
| Q4 2018 | -4.6% | -3.1% | -6.4% | |
| Q3 2018 | +23.3% | +22.8% | +18.6% | |
| Q2 2018 | -4.0% | +2.1% | +6.7% | |
| Q1 2018 | -1.9% | -3.8% | +0.0% | |
| Q4 2017 | +4.9% | +4.0% | -3.9% | |
| Q3 2017 | -2.3% | -6.0% | -6.5% | |
| Q2 2017 | -6.2% | -13.2% | -16.6% | |
| Q1 2017 | -1.1% | -1.0% | -1.6% | |
| Q4 2016 | -3.8% | -2.9% | -2.9% | |
| Q3 2016 | -0.3% | -0.4% | +7.8% | |
| Q2 2016 | +4.1% | +3.3% | +9.2% | |
| Q1 2016 | +6.8% | — | — | |
| Q4 2015 | -18.1% | — | — | |
| Q3 2015 | +9.7% | — | — | |
| Q2 2015 | +9.2% | — | — | |
| Q1 2015 | -10.3% | — | — | |
| Q4 2014 | +5.8% | — | — | |
| Q3 2014 | -1.4% | — | — | |
| Q2 2014 | -11.6% | — | — | |
| Q1 2014 | +0.1% | — | — | |
| Q4 2013 | +11.1% | — | — | |
| Q3 2013 | +0.7% | — | — | |
| Q2 2013 | -8.7% | — | — | |
| Q1 2013 | -0.9% | — | — | |
| Q4 2012 | +11.0% | — | — | |
| Q3 2012 | +9.1% | — | — | |
| Q2 2012 | +24.2% | — | — | |
| Q1 2012 | +2.1% | — | — | |
| Q1 2011 | -7.1% | — | — | |
| Q4 2009 | -1.8% | — | — | |
| Q4 2011 | -1.8% | — | — | |
| Q3 2011 | -2.3% | — | — | |
| Q3 2010 | -2.3% | — | — | |
| Q4 2010 | -7.5% | — | — | |
| Q2 2010 | -7.5% | — | — | |
| Q2 2011 | -7.5% | — | — | |
| Q1 2010 | -19.4% | — | — |
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