Standard Motor Products, Inc. Discusses COVID-19 Business Impact and Announces First Quarter 2020 Results
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Standard Motor Products (SMP) Misses Q1 EPS by 4c, Revenues Miss
April 29, 2020 8:36 AM EDTStandard Motor Products (NYSE: SMP) reported Q1 EPS of $0.43, $0.04 worse than the analyst estimate of $0.47. Revenue for the quarter came in at $254.3 million versus the consensus estimate of $273.31 million.
Mr. Eric Sills, Standard Motor Products' Chief Executive Officer and President stated, "Prior to a discussion of our first quarter results, it is important to address the current COVID-19 pandemic crisis' impact on the auto care industry in general, and on SMP in particular. When the U.S. began issuing guidelines in mid-March to slow the spread of the disease through 'stay-at-home' orders, certain... More
