Standard Motor Products (SMP) Misses Q4 EPS by 9c, Slight Miss on Revenues

Standard Motor Products (NYSE: SMP) reported Q4 EPS of $0.52, $0.09 worse than the analyst estimate of $0.61. Revenue for the quarter came in at $247 million versus the consensus estimate of $247.45 million.

Mr. Eric P. Sills, Standard Motor Products' Chief Executive Officer and President, stated, "We were generally pleased with the fourth quarter, as sales and gross margin for the company as a whole were slightly ahead of the prior year. Operating profit was down, excluding the gain on the sale of the Grapevine, Texas facility, primarily as a result of the costs associated with the installation of a new automated distribution system for our Temperature Control Division in Lewisville, Texas. We anticipate significant savings in this area in 2019."

For earnings history and earnings-related data on Standard Motor Products (SMP) click here.

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