Standard Motor Products: Q2 Earnings Snapshot
LONG ISLAND CITY, N.Y. (AP) — LONG ISLAND CITY, N.Y. (AP) — Standard Motor Products Inc. (SMP) on Thursday reported second-quarter net income of $17.1 million.
On a per-share basis, the Long Island City, New York-based company said it had net income of 77 cents. Earnings, adjusted for one-time gains and costs, were 98 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The auto parts maker posted revenue of $389.8 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $365.5 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SMP at https://www.zacks.com/ap/SMP