Standard Motor Products Inc (SMP)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	388,826	396,860	388,884	383,966	382,539	381,645	380,066	382,987	376,931	382,415	384,958	350,044	336,655	315,345	299,685	324,232	331,800	330,559	325,777	318,161
Revenue (ttm)	US$ in thousands	2,701,423	2,718,401	2,708,286	2,722,422	2,715,865	2,739,824	2,720,702	2,687,356	2,595,396	2,259,260	2,206,048	2,017,497	1,972,331	1,930,845	1,858,027	1,971,543	2,030,255	2,035,973	2,014,034	1,977,475
Gross profit margin		14.39%	14.60%	14.36%	14.10%	14.09%	13.93%	13.97%	14.25%	14.52%	16.93%	17.45%	17.35%	17.07%	16.33%	16.13%	16.45%	16.34%	16.24%	16.18%	16.09%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $388,826K ÷ $2,701,423K
= 14.39%

Standard Motor Products, Inc.'s gross profit margin has exhibited relative stability over the past eight quarters, ranging from a low of 27.79% in Q3 2022 to a high of 28.85% in Q3 2023. The company's gross profit margin for Q4 2023 stands at 28.63%, indicating a slight decline compared to the previous quarter. Despite minor fluctuations, the overall trend suggests that Standard Motor Products has been able to maintain a consistent level of profitability in generating revenue after accounting for the cost of goods sold. This consistent performance may indicate efficient cost management and pricing strategies within the company's operations.