Standard Motor Products Q1 Adj $0.45 Beats $0.37 Estimate, Sales $331.40M Beat $321.84M Estimate
Portfolio Pulse from Benzinga Newsdesk
Standard Motor Products (NYSE:SMP) reported Q1 earnings of $0.45 per share, surpassing the $0.37 estimate, and sales of $331.40M, exceeding the $321.84M estimate. This represents a 26.23% decrease in earnings and a 1.03% increase in sales from the same period last year.
May 01, 2024 | 12:33 pm
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Standard Motor Products reported higher than expected Q1 earnings and sales, with a 26.23% decrease in earnings per share year-over-year but a slight increase in sales.
Beating both earnings and sales estimates typically has a positive impact on a company's stock price in the short term. The decrease in earnings per share year-over-year might temper some of the positive momentum, but the overall beat on expectations is likely to be viewed favorably by investors.
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