Standard Motor Products, Inc. (SMP), an automotive parts manufacturer and distributor, on Friday reported a return to profit for the third quarter of 2026, from a loss in the prior year quarter. Further the firm reaffirmed its full-year 2026 outlook.
Folllowing the announcement, the shares were trading 10.90 percent higher at $42.42 on the New York Stock Exchange.
For the third quarter, net earnings attributable to SMP were $14.15 million or $0.62 per share, compared with a loss of $4.34 million or $0.19 in the prior-year quarter.
Earnings from continuing operations increased to $32.6 million or $1.42 per share, from $29.8 million or $1.32 per in the prior-year quarter.
Adjusted earnings from continuing operations rose to $35.3 million or $1.54 per share from $30.6 million or $1.36 per share in the previous year quarter.
Operating income was $50.149 million, compared with $47.636 million a year earlier.
Adjusted EBITDA increased to $66.6 million from $61.7 million in the year-ago quarter, driven primarily by solid performance across the Vehicle Control and Nissens segments.
Net sales rose to $507.8 million from $498.8 million a year earlier.
Adjusted net sales, excluding the estima...