Standard Motor Products Inc. has announced that its board of directors has authorized the purchase of up to $20 million of its common stock under a stock repurchase program.
The company intends to fund the stock repurchase program through its revolving credit facility. Any repurchased shares will be held as treasury stock and will be available for general corporate purposes, including funding existing equity compensation plans.
President and CEO Dominick Zarcone expressed satisfaction with the company’s results amid macroeconomic challenges.
LKQ Corporation released its fourth-quarter and full-year 2023 financial results today, showcasing a robust finish to the year despite challenging economic conditions, the company said. President and CEO Dominick Zarcone expressed satisfaction with the company's performance amidst macroeconomic challenges such as inflation and fluctuating commodity prices. Zarcone also welcomed Justin Jude, who succeeds him as CEO, expressing confidence in the ongoing progress of LKQ's operations.
Eric Sills, chairman and CEO, said the company is looking to continue to find ways to better service customers and explore opportunities to partner for growth in 2024.
Phinia reported that it expects strong earnings and cash generation in 2024, driven by operational efficiencies, and growth in aftermarket sales.
GPC reported mid-single-digit total sales growth and its third consecutive year of double-digit earnings growth.
MPA’s Q3 results showed increases in net sales, operating income and cash flow from operating activities.
They are prepackaged A/C kits assembled and shipped in one package with everything customers need to perform a successful A/C repair.
The company said it anticipates continued growth in 2024, with projections including 190 to 200 net new store openings.
Valvoline saw an increase in system-wide stores to 1,890, including 895 company-operated stores and 995 franchised stores in Q1.
Fourth-quarter sales reached $6 billion, an 11% increase from the previous year, driven by organic growth and a slight boost from foreign exchange.
