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Standard Motor Products, Inc. (NYSE: SMP) is a leading independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry. Established in 1919, SMP has built a reputation for delivering high-quality automotive parts that meet the rigorous demands of today’s vehicles. The company operates through two main segments: Engine Management and Temperature Control.
The Engine Management segment produces a comprehensive range of parts for ignition, emission, and fuel systems. This includes sensors, fuel injectors, ignition coils, and more. On the other hand, the Temperature Control segment is focused on manufacturing and remanufacturing automotive air conditioning and heating system parts, such as compressors, condensers, and blower motors.
SMP has recently emphasized expanding into the original equipment and original equipment service markets, enhancing its product offerings and market reach. The company’s products are marketed across the United States, Canada, Latin America, Europe, and Asia through both traditional and non-traditional channels.
In the latest financial results for the third quarter of 2023, SMP reported net sales of $386.4 million, a 1.3% increase compared to the same period in the previous year. Earnings from continuing operations were $24.9 million or $1.12 per diluted share. The company continues to see growth in its Engineered Solutions segment, driven by strong demand from existing customers and new business wins.
Looking ahead, SMP has announced the opening of a new distribution center in Shawnee, KS, set to begin phased operations in early 2025. This 575,000 sq.ft. facility will enhance the company’s logistics capabilities and expand its capacity for all aftermarket product categories.
SMP’s commitment to innovation, quality, and customer satisfaction has solidified its position as a key player in the automotive parts industry. The company's ongoing initiatives to reduce inventory and debt, along with its strategic growth plans, are expected to drive future profitability and market presence.
With a history of strong financial performance and a clear vision for the future, Standard Motor Products, Inc. continues to be a trusted partner in the automotive aftermarket industry.
Standard Motor Products (NYSE: SMP) reported strong Q4 2024 results with net sales of $343.4 million, up 18.1% year-over-year. Full-year 2024 sales reached $1.46 billion, a 7.8% increase from 2023.
The recently acquired Nissens Automotive contributed $35.7 million in sales during its first two months. Adjusted diluted EPS grew 27% to $0.47 in Q4 and 8.6% to $3.17 for the full year. The company's Vehicle Control segment sales increased 4.9% in Q4, while Temperature Control saw a 30% jump.
For 2025, SMP expects mid-teens sales growth, primarily due to Nissens integration, with Adjusted EBITDA projected at 10.0-11.0%. The company announced a quarterly dividend of $0.31 per share, payable March 3, 2025.
Standard Motor Products (NYSE: SMP), an automotive parts manufacturer and distributor, has scheduled its Q4 and full-year 2024 earnings report for February 27, 2025, before market opening. The company will host a conference call at 11:00 AM Eastern Time on the same day.
Investors can access the earnings call through the company's website at www.smpcorp.com via the SMP Q4'24 Earnings Call Webcast link, or by dialing 800-225-9448 (domestic) or 203-518-9708 (international) using the conference ID code SMP4Q2024. A playback option will be available immediately after the call, with the webcast link active within 24 hours.
Standard Motor Products (NYSE: SMP) has launched its redesigned corporate website, developed in partnership with Scandia. The new SMPcorp.com features enhanced accessibility, mobile optimization, and a comprehensive dashboard-style homepage that streamlines access to key corporate information.
The website's main features include:
- A super dashboard homepage with latest news and stock ticker
- Six main navigation paths covering Financial Performance, About SMP, Parts & Products, Latest News, Get in Touch, and Corporate Resources
- Interactive navigation menus with quick access to investor information
- Comprehensive search functionality with category-organized results
- A facilities module with map integration
- An automated history timeline spanning SMP's 100+ year history
The redesign focuses on user experience, featuring full device compatibility and customizable accessibility tools. The site includes dedicated sections for financial documents, brand stories, leadership profiles, and corporate resources, all designed for quick and efficient information access.
Standard Motor Products (NYSE: SMP), an automotive parts manufacturer and distributor, has announced a dividend increase approved by its Board of Directors. The quarterly common stock dividend will increase from $0.29 per share to $0.31 per share, representing a 6.9% increase. The dividend will be payable on March 3, 2025, to shareholders of record as of February 14, 2025.
Standard Motor Products (SMP) has announced the release of 2,367 new part numbers in 2024 through its Vehicle Control and Temperature Control divisions. The expansion covers late-model import and domestic vehicles across all powertrains, including ICE, hybrid, and electric vehicles.
Key additions include ten new Direct Injection High-Pressure Fuel Pumps covering 2.5 million vehicles, 31 GDI and MFI Fuel Injectors, and new Turbocharger Kits. The company expanded its emission control systems with multiple Canister Purge Solenoids and Valves, 30+ EGR Tubes, and Engine Crankcase Breather Hoses for nearly 14 million vehicles.
The company also strengthened its ADAS offerings with 72 ABS Speed Sensors, 53 Park Assist Cameras, and 76 Park Assist Sensors. Four Seasons® introduced new Hose Assemblies, Compressors, and Electric Coolant Pumps for hybrid vehicles.
Standard Motor Products (NYSE: SMP) has been named one of America's Most Responsible Companies 2025 by Newsweek and Statista, marking its second consecutive year on the list. The company stands among just 21 companies recognized in the automotive and components sector.
The recognition is based on two key metrics: analysis of over 30 key performance indicators (KPIs) among the top 2,000 US public companies by revenue, and a public survey of 26,000 U.S. residents evaluating corporate social responsibility (CSR) performance in environmental, social, and corporate governance dimensions.
Eric Sills, Chairman and CEO, emphasized SMP's commitment to responsible corporate citizenship, focusing on employees, customers, and communities, viewing sustainable business practices as important for creating long-term stakeholder value.
Standard Motor Products (NYSE: SMP) has completed the acquisition of Nissens, a European manufacturer and distributor of aftermarket engine cooling and air conditioning products, for approximately $390 million (€360 million). The acquisition from Nordic private equity firm Axcel and the Nissen family positions SMP as an aftermarket leader in North America and Europe. The company expects to benefit from cross-selling opportunities and bi-directional synergies with significant savings potential.
Standard Motor Products (SMP) reported strong Q3 2024 results with net sales of $399.3 million, up 3.3% year-over-year. Adjusted diluted EPS increased 15% to $1.28, while Adjusted EBITDA improved by 80 basis points to 12.2%. All three operating segments showed growth: Vehicle Control sales up 5.2%, Temperature Control up 1.9%, and Engineered Solutions up nearly 1%. Year-to-date sales reached $1.12 billion, up 5.0% compared to 2023. The company maintains its full-year 2024 guidance expecting low- to mid-single-digit sales growth and Adjusted EBITDA of 9.0-9.5%. The pending Nissens Automotive acquisition received final regulatory approvals and is expected to close soon.
Standard Motor Products (NYSE: SMP) has announced its upcoming earnings conference call for Q3 2024. The company will report its financial results for the three and nine months ended September 30, 2024, on Wednesday, October 30, 2024, before market opening. A conference call will be held at 11:00 AM Eastern Time on the same day. Investors can access the webcast through the company's website or dial in directly. A playback option will be available immediately after the call.
Standard Motor Products (NYSE: SMP) has secured a new $750 million credit facility with JPMorgan Chase Bank and a syndicate of lenders. The five-year facility includes $310 million in term loans and a $440 million revolving credit facility, allowing for multi-currency borrowing. SMP plans to use interest rate swaps to fix rates on about $200 million of borrowings. The facility will finance the acquisition of Nissens Automotive by year-end and support SMP's growth and shareholder return initiatives. It replaces the existing facility and will mature in September 2029. Proceeds will also repay outstanding borrowings, cover fees, and fund general corporate purposes.
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