Shares of Standard Motor Products (SMP) surged 10.51% in pre-market trading on Wednesday after the company reported first-quarter earnings that significantly exceeded analyst expectations and provided an upbeat outlook for the full year.
The auto parts manufacturer posted adjusted earnings per share of $0.81 for Q1, handily beating the analyst consensus estimate of $0.44 by 84.09%. This represents a substantial 80% increase from the $0.45 per share earned in the same period last year. Revenue for the quarter came in at $413.38 million, surpassing the analyst estimate of $394.38 million by 4.82% and marking a 24.74% year-over-year increase from $331.40 million.
Standard Motor Products maintained its previous guidance for top-line growth in the mid-teens and expects adjusted EBITDA margin to be in the range of 10-11% for the full year. The company noted that its diverse global footprint, with over half of its US sales coming from North American-manufactured products, provides a competitive advantage in mitigating potential tariff impacts. Management expressed confidence in the company's ability to navigate ongoing macroeconomic uncertainties, citing the resilient nature of the automotive aftermarket business.
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