Standard Motor Products Reports Strong Q4 and Year-End Results

Standard Motor Products ( (SMP) ) has released its Q4 earnings. Here is a breakdown of the information Standard Motor Products presented to its investors.

Standard Motor Products, Inc. (NYSE: SMP) is a prominent manufacturer and distributor of automotive parts, specializing in engine management, temperature control, and vehicle control products, with a recent expansion into the Nissens Automotive segment.

In its latest earnings report, Standard Motor Products announced a significant increase in net sales for the fourth quarter of 2024, reaching $343 million, marking an 18.1% rise compared to the previous year. This growth was bolstered by the acquisition of Nissens Automotive, which contributed $35.7 million to the quarter’s sales.

Key financial highlights include a full-year net sales increase of 7.8% to $1.46 billion and an adjusted diluted earnings per share of $3.17, reflecting an 8.6% growth. The company’s EBITDA improved to 9.6% for the year, driven by strong sales performance and cost containment measures. The Temperature Control segment showed robust growth with a 30% increase in the fourth quarter, while the Vehicle Control segment also posted gains.

Looking ahead, Standard Motor Products is optimistic about 2025, expecting sales growth in the mid-teens, largely due to the Nissens acquisition. The company plans to focus on integrating Nissens and exploring cost-saving and growth opportunities, aiming for an Adjusted EBITDA range of 10.0-11.0%. The management remains committed to reducing debt levels and enhancing operational efficiency.