Standard Motor Products, Inc. · NYSE:SMP
Standard Motor Products — Q3 2023 Earnings Presentation
14 slides from Standard Motor Products's earnings presentation, Oct 27, 2023
Slide 1: Standard Motor Products 3rd Quarter 2023 Earnings Call
Standard Motor Products, Inc. 3rd Quarter 2023 Earnings Call | October 27, 2023 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 v Welcome & Introduction Tony Cristello, VP Investor Relations v Overview & Market Trends Eric Sills, CEO v Financial Results & Balance Sheet Nathan Iles, CFO v Final Comments Eric Sills, CEO v Q&A All Standard Motor Products, Inc. | Q3 2023 Earnings 3
Slide 4: 3rd Quarter P&L Summary – Segments
3rd Quarter P&L Summary – Segments(1) (In millions, except per share amounts) THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, 2023 2022 2023 2022 Vehicle Control Revenue $ 190.9 $ 197.7 $ 559.3 $ 560.7 Gross Margin 60.9 31.9% 60.4 30.5% 179.4 32.1% 169.5 30.2% Selling, General & Adm
Slide 5: 3rd Quarter P&L Summary – Consolidated
3rd Quarter P&L Summary – Consolidated(1) (In millions, except per share amounts) THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, 2023 2022 2023 2022 Consolidated Results Revenue $ 386.4 $ 381.4 $ 1,067.5 $ 1,063.6 Gross Margin 114.8 29.7% 106.8 28.0% 307.3 28.8% 293.0 27.5% Selling
Slide 6: Balance Sheet & Cash Flow Highlights
Balance Sheet & Cash Flow Highlights (In millions) SEPTEMBER 30, DECEMBER 31, 2023 2022 2022 Working Capital Stats Accounts Receivable, Net $ 208.1 $ 230.4 $ 167.6 Inventories $ 479.8 $ 534.3 $ 528.7 Cash Flow Stats (YTD) Operating cash flows $ 132.9 $ (75.5) Capex $ (18.0) $ (19.5) M&A $ (4.0) $ -
Slide 7: Q&A Session
Standard Motor Products, Inc. SiviP Standard Motor Products, Inc. Q&A Session
Slide 8: Appendix
Standard Motor Products, Inc. Appendix
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 NINE MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, 2023 2022 2023 2022 (Unaudited) (Unaudited) EARNINGS FROM CONTINUING OPERATIONS ATTRIBUTABLE TO SMP GAAP EARNINGS FROM CONTINUING OPERATIONS $ 24,859
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 NINE MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, 2023 2022 2023 2022 (Unaudited) (Unaudited) OPERATING INCOME GAAP OPERATING INCOME $ 34,806 $ 33,615 $ 82,730 $ 88,423 RESTRUCTURING AND INTEGRATION
Slide 11: Reconciliation of GAAP and Non-GAAP Measures
Reconciliation of GAAP and Non-GAAP Measures (In thousands) THREE MONTHS ENDED SEPTEMBER 30, 2023 Temperature Engineered Vehicle Control All Other Consolidated Control Solutions (Unaudited) OPERATING INCOME GAAP OPERATING INCOME $ 18,071 $ 13,054 $ 7,254 $ (3,573) $ 34,806 RESTRUCTURING AND INTEGRAT
Slide 12: Reconciliation of GAAP and Non-GAAP Measures
Reconciliation of GAAP and Non-GAAP Measures (In thousands) THREE MONTHS ENDED SEPTEMBER 30, 2022 Temperature Engineered Vehicle Control All Other Consolidated Control Solutions (Unaudited) OPERATING INCOME GAAP OPERATING INCOME $ 21,151 $ 13,389 $ 3,302 $ (4,227) $ 33,615 RESTRUCTURING AND INTEGRAT
Slide 13: Reconciliation of GAAP and Non-GAAP Measures
Reconciliation of GAAP and Non-GAAP Measures (In thousands) NINE MONTHS ENDED SEPTEMBER 30, 2023 Temperature Engineered Vehicle Control All Other Consolidated Control Solutions (Unaudited) OPERATING INCOME GAAP OPERATING INCOME $ 54,719 $ 20,938 $ 19,064 $ (11,991) $ 82,730 RESTRUCTURING AND INTEGRA
Slide 14: Reconciliation of GAAP and Non-GAAP Measures
Reconciliation of GAAP and Non-GAAP Measures (In thousands) NINE MONTHS ENDED SEPTEMBER 30, 2022 Temperature Engineered Vehicle Control All Other Consolidated Control Solutions (Unaudited) OPERATING INCOME GAAP OPERATING INCOME $ 57,554 $ 28,074 $ 14,699 $ (11,904) $ 88,423 RESTRUCTURING AND INTEGRA
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