Standard Motor Products, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 08:30 am EDT
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Standard Motor Products, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 353.08 million compared to USD 359.41 million a year ago. Net income was USD 9.14 million compared to USD 19.13 million a year ago. Basic earnings per share from continuing operations was USD 0.85 compared to USD 0.96 a year ago. Diluted earnings per share from continuing operations was USD 0.83 compared to USD 0.93 a year ago. Basic earnings per share was USD 0.42 compared to USD 0.88 a year ago. Diluted earnings per share was USD 0.41 compared to USD 0.86 a year ago.
For the six months, sales was USD 681.1 million compared to USD 682.24 million a year ago. Net income was USD 21.06 million compared to USD 38.57 million a year ago. Basic earnings per share from continuing operations was USD 1.43 compared to USD 1.89 a year ago. Diluted earnings per share from continuing operations was USD 1.4 compared to USD 1.85 a year ago. Basic earnings per share was USD 0.97 compared to USD 1.76 a year ago. Diluted earnings per share was USD 0.95 compared to USD 1.72 a year ago.
Standard Motor Products, Inc. is a manufacturer and distributor of replacement parts in the automotive aftermarket and a custom-engineered solutions provider to vehicle and equipment manufacturers in diverse non-aftermarket end markets. Its Vehicle Control Segment services its core automotive aftermarket customers through its offering of replacement parts within the product groups: Engine Management, Electrical and Safety and Wire Sets and Other. Its Temperature Control Segment also services its core automotive aftermarket customers through its offering of replacement parts within the various product groups: AC System Components and Other Thermal Components. Its Engineered Solutions Segment services its vehicle and equipment manufacturing customers across diverse global end markets, including on-highway and off-highway applications such as commercial and light vehicles, construction, agriculture, power sports, marine, hydraulics and lawn and garden.
STANDARD MOTOR PRODUCTS, INC. 
