Standard Motor Products Inc. SMPreported first-quarter 2018 adjusted earnings per share of 46 cents per share, missing the Zacks Consensus Estimate of 66 cents. Also, the bottom line was lower than the prior-year quarter figure of 74 cents per share.
During the quarter under review, earnings from continuing operations were $8.
During the reported quarter, total revenues decreased to $261.8 million from $282.4 million a year ago. Moreover, the top line missed the Zacks Consensus Estimate of $280 million.
Gross profit decreased to $72.6 million from $84.1 million in the year-ago quarter. Operating income also declined to $12.3 million from $25.5 million in the year-ago quarter.
Segment Results
During the reported quarter, revenues at the Engine Management segment declined to $199.5 million from $211.3 million a year ago.
Operating income was $20.2 million (10.1% of sales) compared with $28.1 million (13.3% of sales) in the prior-year quarter.
Revenues at the Temperature Control segment decreased to $60.2 million from $70.3 million a year ago. The segment recorded operating income of $838,000 (1.4% of sales) compared with $4.7 million (6.7% of sales) in the first quarter of 2017.
Revenues at the All Other segment increased to $2.1 million from $774000 a year ago. The segment registered an operating loss of $6.2 million, slightly wider than the loss of $6.1 million in the first quarter of 2017.