SMP Q2 Adjusted Sales Rise 6.7%, EPS Beats; Guidance Reaffirmed
SMP sits 31% above its 52-week low of $29.53.
Summary
Standard Motor Products posted Q2 adjusted net sales of $526.7M, up 6.7% year-over-year, with non-GAAP diluted EPS of $1.40 beating the prior year's $1.29 and analyst estimates. Three of four operating segments showed strong gains, and adjusted EBITDA hit a record $63.5M. The company reaffirmed full-year guidance for low to mid-single digit sales growth and 11%-12% adjusted EBITDA margins, and still sees 2026 sales up low- to mid-single digits. Operating cash flow improved $64.2M year-to-date, and net debt leverage fell to 2.5x. The quarterly dividend was also declared, following a strong Q1 and the recent Techstrong joint venture closing.
At the time of this announcement, SMP was trading at $38.78 on NYSE in the Manufacturing sector, with a market capitalization of approximately $863.4M. The 52-week trading range was $29.53 to $46.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.