Standard Motor Products Q1 Adj. Profit Declines

(RTTNews) - Standard Motor Products, Inc. (SMP) reported that, excluding non-operational gains and losses, earnings from continuing operations for the first quarter of 2022 were $20.6 million or $0.92 per share, compared to $22.2 million or $0.97 per share, prior year. Analysts polled by Thomson Reuters expected the company to report profit per share of $0.71, for the quarter. Analysts' estimates typically exclude special items.

Earnings from continuing operations were $20.6 million or $0.91 per share, compared to $22.2 million or $0.97 per share, prior year.

Net sales for the first quarter were $322.8 million, compared to consolidated net sales of $276.6 million, last year. Analysts on average had estimated $304.3 million in revenue.