Standard Motor Products, Inc. · NYSE:SMP
Standard Motor Products — Q1 2024 Earnings Presentation
12 slides from Standard Motor Products's earnings presentation, May 1, 2024
Slide 1: Standard Motor Products, Inc. 1st Quarter 2024 Earnings Call
Standard Motor Products, Inc. 1st Quarter 2024 Earnings Call | May 1, 2024 1
Slide 2: Safe Harbor – Forward Looking Statements
Safe Harbor – Forward Looking Statements You should be aware that except for historical information, the matters discussed herein are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward looking statements, including projections and anticipat
Slide 3: Agenda
Agenda vWelcome & Introduction Tony Cristello, VP Investor Relations vOverview & Market Trends Eric Sills, CEO vFinancial Results & Balance Sheet Nathan Iles, CFO vFinal Comments Eric Sills, CEO vQ&A All Standard Motor Products, Inc. | Q1 2024 Earnings 3
Slide 4: 1st Quarter P&L Summary – Segments
1st Quarter P&L Summary – Segments(1) (In millions, except per share amounts) THREE MONTHS ENDED MARCH 31, 2024 2023 Vehicle Control Revenue $ 185.5 $ 184.6 Gross Margin 58.9 31.7% 58.5 31.7% Selling, General & Administrative 35.6 19.2% 34.0 18.4% Factoring Expenses 7.7 4.2% 6.8 3.7% Operating Incom
Slide 5: 1st Quarter P&L Summary – Consolidated
1st Quarter P&L Summary – Consolidated(1) (In millions, except per share amounts) THREE MONTHS ENDED MARCH 31, 2024 2023 Consolidated Results Revenue $ 331.4 $ 328.0 Gross Margin 89.5 27.0% 91.3 27.8% Selling, General & Administrative 64.7 19.5% 60.5 18.5% Factoring Expenses 10.0 3.0% 9.1 2.8% Opera
Slide 6: Balance Sheet & Cash Flow Highlights
Balance Sheet & Cash Flow Highlights (In millions) MARCH 31, DECEMBER 31, 2024 2023 2023 Working Capital Stats Accounts Receivable, Net $ 203.9 $ 210.8 $ 160.3 Inventories $ 520.7 $ 522.0 $ 507.1 Cash Flow Stats (YTD) Operating cash flows $ (45.7) $ (20.4) Capex $ (10.1) $ (4.4) Dividends $ (6.4) $
Slide 7: Q&A Session
Q&A Session Standard Motor Products, Inc. | Q1 2024 Earnings 7
Slide 8: Appendix
Appendix Standard Motor Products, Inc. | Q1 2024 Earnings 8
Slide 9: Reconciliation of GAAP and Non-GAAP Measures
Reconciliation of GAAP and Non-GAAP Measures (In thousands, except per share amounts) THREE MONTHS ENDED MARCH 31, 2024 2023 (Unaudited) EARNINGS FROM CONTINUING OPERATIONS ATTRIBUTABLE TO SMP GAAP EARNINGS FROM CONTINUING OPERATIONS $ 9,863 $ 12,698 RESTRUCTURING AND INTEGRATION EXPENSES 192 912 IN
Slide 10: Reconciliation of GAAP and Non-GAAP Measures
Reconciliation of GAAP and Non-GAAP Measures (In thousands, except per share amounts) THREE MONTHS ENDED MARCH 31, 2024 2023 (Unaudited) OPERATING INCOME GAAP OPERATING INCOME $ 14,619 $ 20,746 RESTRUCTURING AND INTEGRATION EXPENSES 192 912 OTHER INCOME, NET (22) (24) LAST TWELVE MONTHS ENDED YEAR E
Slide 11: Reconciliation of GAAP and Non-GAAP Measures
Reconciliation of GAAP and Non-GAAP Measures (In thousands) THREE MONTHS ENDED MARCH 31, 2024 Temperature Engineered Vehicle Control All Other Consolidated Control Solutions (Unaudited) OPERATING INCOME GAAP OPERATING INCOME $ 15,540 $ 2,031 $ 2,232 $ (5,184) $ 14,619 RESTRUCTURING AND INTEGRATION E
Slide 12: Reconciliation of GAAP and Non-GAAP Measures
Reconciliation of GAAP and Non-GAAP Measures (In thousands) THREE MONTHS ENDED MARCH 31, 2023 Temperature Engineered Vehicle Control All Other Consolidated Control Solutions (Unaudited) OPERATING INCOME GAAP OPERATING INCOME $ 17,375 $ 2,084 $ 5,647 $ (4,360) $ 20,746 RESTRUCTURING AND INTEGRATION E
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