Standard Motor Products, Inc. (NYSE:SMP) Q1 2024 Results Conference Call May 3, 2024 11:00 AM ET

Company Participants

Tony Cristello - Vice President, Investor Relations
Larry Sills - Chairman Emeritus
Eric Sills - President & Chief Executive Officer
Jim Burke - Chief Operating Officer
Nathan Iles - Chief Financial Officer

Conference Call Participants

Tony Cristello - Vice President, Investor Relations
Larry Sills - Chairman Emeritus
Eric Sills - President & Chief Executive Officer
Jim Burke - Chief Operating Officer
Nathan Iles - Chief Financial Officer

Operator

[Call Starts Abruptly] Also, today's call is being recorded, and I will be standing by if anyone should need any assist.

Now at this time I will turn things over to Mr. Tony Cristello Vice President Investor Relations. Please go ahead, sir.

Tony Cristello

Thank you, Bo, and good morning, everyone. Thank you for joining us on Standard Motor Products first quarter 2024 earnings conference call. With me today are Larry Sills, Chairman Emeritus; Eric Sills, Chairman and Chief Executive Officer; Jim Burke, Chief Operating Officer; and Nathan Iles, Chief Financial Officer.

On our call today, Eric will give an overview of our performance in the quarter, and Nathan will then discuss our financial results. Eric will then provide some concluding remarks and open up the call for Q&A.

Before we begin this morning, I'd like to remind you that some of the material that we'll be discussing today may include forward-looking statements regarding our business and expected financial results. When we use words like anticipate, believe, estimate or expect, these are generally forward-looking statements.

Although we believe that the expectations reflected in these forward-looking statements are reasonable, they are based on information currently available to us and certain assumptions made by us, and we cannot assure you that they will prove correct. You should also read our filings with the Securities and Exchange Commission for a discussion of the risks and uncertainties that could cause our actual results to differ from our forward-looking statements.

I'll now turn the call over to Eric Sills, our CEO.

Eric Sills

Thank you, Tony, and good morning, everyone, and welcome to our first quarter earnings call. Let me open by thanking all of our employees around the world for their tireless efforts as we enter our 105th year. So it's fair to say that our first quarter results were mixed. We're pleased with our top line performance where we set a record for first quarter sales. However, as expected, our profitability continued to lag, demonstrating some of the challenges in keeping up with inflationary pressures.