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Standard Motor Products - SMP STOCK NEWS

Welcome to our dedicated page for Standard Motor Products news (Ticker: SMP), a resource for investors and traders seeking the latest updates and insights on Standard Motor Products stock.

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.

News

Standard Motor Products' Emission Control Program Expands

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Standard Motor Products, Inc. (SMP) is expanding its Emission Control program, with more than 3,500 parts, including EVAP, EGR, and positive crankcase ventilation products. The company manufactures these components in its North American facilities, ensuring precision engineering and durability. The program includes new products for various vehicle models, with rigorous quality testing and validation processes. John Herc, Vice President of Vehicle Control Marketing, emphasized the company's commitment to delivering top-of-the-line performance.
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Standard Motor Products, Inc. Announces Quarterly Dividend

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Standard Motor Products, Inc. (SMP) has approved a quarterly dividend of twenty-nine cents per share on its common stock outstanding, reflecting the company's commitment to return value to shareholders. The dividend is payable on March 1, 2024, to shareholders of record on February 15, 2024.
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Standard Motor Products Expands Gas Fuel Injection Program Offering

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Standard Motor Products, Inc. (SMP) continues to expand its aftermarket-leading Gasoline Fuel Injection program, featuring more than 2,100 parts, including GDI, MFI, and TBI Injectors and related parts for the most complete program in the industry. The new award-winning Blue Streak® High-Pressure Fuel Pump Kits for direct injection engines include everything needed for a complete repair. SMP-manufactured all-new Injectors are built in SMP's IATF 16949-certified Greenville, South Carolina facility.
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Standard Motor Products, Inc. Named One of America's Most Responsible Companies

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Standard Motor Products, Inc. (NYSE: SMP) has been recognized as one of America's Most Responsible Companies 2024 by Newsweek and Statista, solidifying its position as one of the top 19 companies in the automotive and components sector for its commitment to Sustainability - Environmental, Social and Corporate Governance (ESG). This recognition reflects SMP's dedication to environmental and social responsibility, as well as its ESG profile and initiatives. The company's President and CEO, Eric Sills, emphasized the value of being a good corporate citizen and the importance of sustainability commitments.
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Standard Motor Products, Inc. Directors Recognized

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Standard Motor Products, Inc. (NYSE: SMP) announces the recognition of two Board of Directors members, Alisa C. Norris and Pamela Puryear, for their success and influence. Alisa C. Norris, Presiding Independent Director, was named one of Directors & Boards Magazine's Class of 2023 'Directors to Watch: Gender Diversity 2023.' Pamela Puryear, Ph.D., Chair of SMP's Compensation and Management Development Committee, was recognized by WomenInc. Magazine as one of its 2023 Most Influential Women Corporate Board Directors.
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Standard Motor Products, Inc. Announces Third Quarter 2023 Results and Quarterly Dividend

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Standard Motor Products reports Q3 2023 financial results with net sales of $386.4 million, a 1.3% increase compared to Q3 2022. Earnings from continuing operations were $24.9 million or $1.12 per diluted share. Consolidated net sales for the nine months ended September 30, 2023, were $1.07 billion. Mr. Eric Sills, CEO, stated that sales rebounded in Q3 after a sluggish Q2 and that the company expects flat to low-single digit sales growth for the full year 2023.
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Standard Motor Products' October Release Includes 276 New Numbers

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Standard Motor Products, Inc. (SMP®) has released 276 new part numbers in its October new number announcement, expanding coverage for hybrid and electric vehicles. Standard® and Four Seasons® have introduced various components for popular vehicle models. The release includes Park Assist Sensors for Toyota Prius Prime, Canister Purge Solenoids for Lexus ES300h, Hose Assemblies for Honda Accord and Chevrolet Bolt, Brushless Blower Motors for Mercedes C-Class Hybrid, and Evaporators for Ford Interceptor Utility and Lincoln Aviator Hybrid. The Standard® Variable Valve Timing (VVT) program has also grown, along with the addition of Turbochargers and emission control products.
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Standard Motor Products, Inc. Announces Third Quarter 2023 Earnings Conference Call

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Standard Motor Products, Inc. is set to report its earnings for Q3 2023 on October 27. The conference call will be held at 11:00 AM ET and can be accessed through the company's website or by phone.
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Standard Motor Products, Inc. STABIL Facility Earns PACCAR 2022 10 PPM Award

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Standard Motor Products' STABIL facility in Germany has earned PACCAR's 2022 10 PPM Award for achieving high-quality standards with less than ten defective parts per million. The award recognizes SMP's commitment to providing partners with components of the highest quality.
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Standard Motor Products' August Release Includes 210 New Part Numbers

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Standard Motor Products, Inc. (SMP®) has released 210 new part numbers in its August new number announcement. This most recent release provides new coverage in 72 distinct product categories, and 69 part numbers for 2022, 2023 and 2024 model-year vehicles.
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FAQ

What is the current stock price of Standard Motor Products (SMP)?

The current stock price of Standard Motor Products (SMP) is $30.72 as of December 20, 2024.

What is the market cap of Standard Motor Products (SMP)?

The market cap of Standard Motor Products (SMP) is approximately 673.8M.

What does Standard Motor Products, Inc. do?

Standard Motor Products, Inc. manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry, focusing on engine management and temperature control products.

What are the main segments of SMP?

SMP operates through two main segments: Engine Management, which includes parts for ignition, emission, and fuel systems, and Temperature Control, which focuses on air conditioning and heating system parts.

Where are SMP’s products marketed?

SMP's products are marketed in the United States, Canada, Latin America, Europe, and Asia through both traditional and non-traditional channels.

What were SMP’s financial results for the third quarter of 2023?

For Q3 2023, SMP reported net sales of $386.4 million and earnings from continuing operations of $24.9 million or $1.12 per diluted share.

What recent expansions has SMP announced?

SMP announced the opening of a new 575,000 sq.ft. distribution center in Shawnee, KS, set to begin phased operations in early 2025.

How does SMP ensure the quality of its products?

SMP ensures product quality through rigorous testing, advanced manufacturing processes, and a commitment to innovation and customer satisfaction.

What is SMP’s approach to financial management?

SMP focuses on reducing inventory and debt, implementing cost reduction initiatives, and strategic pricing actions to offset inflationary pressures.

How does SMP address environmental concerns?

SMP is committed to sustainability through remanufacturing processes in its Temperature Control segment and by implementing environmentally friendly practices.

What is SMP’s dividend policy?

SMP’s Board of Directors has approved a quarterly dividend of 29 cents per share, reflecting the company’s commitment to returning value to shareholders.

How can investors stay updated on SMP’s financial performance?

Investors can access financial updates and listen to earnings calls through the Investor Relations page on SMP’s website at www.smpcorp.com.

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Standard Motor Products

NYSE:SMP

SMP Rankings

#2851 Ranked by Market Cap
#832 Ranked by Dividends

SMP Stock Data

673.81M
20.62M
4.83%
83.15%
3.06%
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