Standard Motor Products Q2 EPS $0.83 Misses $0.98 Estimate, Sales $353.10M Miss $374.45M Estimate
Portfolio Pulse from Benzinga Newsdesk
Standard Motor Products (NYSE:SMP) reported Q2 earnings of $0.83 per share, missing the analyst consensus estimate of $0.98 by 15.31%. This is a 10.75% decrease from the same period last year. The company also reported quarterly sales of $353.10 million, missing the analyst consensus estimate of $374.45 million by 5.70%. This is a 1.76% decrease from the same period last year.
August 04, 2023 | 11:09 am
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NEGATIVE IMPACT
Standard Motor Products reported lower than expected Q2 earnings and sales, indicating a potential negative impact on its stock price.
Standard Motor Products reported lower than expected earnings and sales for Q2. This underperformance could lead to a decrease in investor confidence, potentially driving the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100