Standard Motor Products Q4 Profit Tops Estimates

(RTTNews) - Standard Motor Products, Inc. (SMP) reported fourth quarter adjusted earnings from continuing operations of $1.08 per share, compared to $0.59 per share, a year ago. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.68, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter consolidated net sales were $282.7 million, compared to $241.3 million, prior year. Analysts expected revenue of $254.29 million, for the quarter.

Eric Sills, Standard Motor Products' CEO said: "We are very pleased with our fourth quarter results, as we achieved records in both sales and earnings from continuing operations. After a very difficult second quarter when we experienced a slowdown caused by the pandemic, business rebounded in the second half, and we ended within one percent of our 2019 full-year revenue, setting a new high for full-year earnings from continuing operations."