Standard Motor Products Q2 Profit Down - Quick Facts

(RTTNews) - Standard Motor Products Inc. (SMP) reported that its second quarter net earnings declined to $10.97 million or $0.48 per share, from $19.43 million or $0.85 per share in the second quarter of 2019.

Excluding certain items, earnings from continuing operations for the second quarter of 2020 were $11.8 million or $0.52 per share, compared to $21.0 million or $0.92 per share in the second quarter of 2019. Analysts polled by Thomson Reuters expected the company to report earnings of $0.20 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the second quarter were $247.9 million, down from $305.2 million in the prior year. Analysts expected revenues of $228.74 million.