Standard Motor Products, Inc. (SMP), an automotive replacement parts manufacturer and distributor, reported Thursday a net earnings attributable to SMP for the second quarter of $25.24 million or $1.13 per share, up from $17.06 million or $0.77 per share in the prior-year quarter.
Net earnings from continuing operations for the quarter grew to $26.30 million or $1.17 per share from $17.98 million or $0.81 per share in the year-ago quarter.
Excluding items, adjusted earnings from continuing operations were $1.29 per share, compared to $0.98 per share last year.
Net sales for the quarter grew 26.7 percent to $493.85 million from $389.83 million in the same quarter last year. Net sales were up 3.5 percent, excluding Nissens acquisition that closed in November, contributed $90.5 million of sales in the quarter.
On average, analysts polled expected the company to earn $0.95 per share on revenues of $450.20 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2025, the company now expects sales to grow in the low 20s percentage, up from the prior forecast in the mid-teens. Analysts expect sales to grow 18.84 percent to $1.74 billion for the year.
The company said the revised guidance now includes the impact of tariffs as they stand as of the end of the second quarter, and includes both pricing and other mitigating actions to offset higher costs.
The Board of Directors also approved the payment of a quarterly dividend of $0.31 per share on the common stock outstanding, which will be paid on September 2, 2025, to stockholders of record on August 15, 2025.
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