Standard Motor Products, Inc. Releases Second Quarter 2025 Results and Quarterly Dividend

Rhea-AI Summary

Standard Motor Products (NYSE:SMP) reported strong Q2 2025 results with net sales of $493.9 million, up 26.7% year-over-year. Adjusted diluted EPS increased 31.6% to $1.29, while adjusted EBITDA margin improved 190 basis points to 12.0%.

The company's performance was driven by solid growth in Vehicle Control (up 7%) and Temperature Control (up 5.5%) segments. The newly acquired Nissens contributed $90.5 million in sales with an 18.0% adjusted EBITDA margin. SMP raised its full-year sales growth guidance to the low-20's percent range and reaffirmed adjusted EBITDA margin outlook of 10-11%.

The Board approved a quarterly dividend of $0.31 per share, payable on September 2, 2025. The company also opened a new 575,000 square foot distribution center in Shawnee, Kansas.

Positive

• Net sales increased 26.7% to $493.9 million in Q2 2025
• Adjusted diluted EPS grew 31.6% to $1.29
• Adjusted EBITDA margin improved 190 basis points to 12.0%
• Nissens acquisition performing above expectations with 18.0% EBITDA margin
• Vehicle Control sales up 7% and Temperature Control sales up 5.5%
• Raised full-year sales growth guidance to low-20's percent range
• New 575,000 sq ft distribution center opened in Kansas

Negative

• Total net debt stands at $577.8 million due to Nissens acquisition
• Engineered Solutions segment sales declined 8.3% year-over-year
• Experiencing tariff costs impact without offsetting pricing in Q2
• Debt leverage target of 2.0x Adjusted EBITDA delayed until end of 2026

Insights

Financial Analyst

SMP reports strong Q2 with 26.7% sales growth, raises 2025 guidance, showing significant margin improvement despite tariff headwinds.

Standard Motor Products delivered exceptional Q2 2025 results with $493.9 million in sales, a 26.7% increase year-over-year. Even excluding the Nissens acquisition, organic growth reached 3.5%, demonstrating the resilience of SMP's core business. The company's adjusted diluted EPS jumped 31.6% to $1.29 from $0.98 in the prior year period.

Profitability metrics showed significant improvement, with adjusted EBITDA margin expanding 190 basis points to 12.0%. This margin enhancement stems from three key factors: the higher-margin Nissens business (which posted an impressive 18.0% EBITDA margin), operating leverage from strong North American aftermarket sales, and ongoing cost containment initiatives.

SMP's segment performance reveals important trends: Vehicle Control sales grew 6.9%, highlighting the non-discretionary nature of these products. Temperature Control increased 5.5% despite tough comparisons to last year's 28% growth. Nissens contributed $90.5 million in sales with integration efforts running ahead of schedule. The Engineered Solutions segment was the only weak spot, declining 8.3% due to softness in certain end markets.

Management has raised full-year sales guidance to the "low 20's percent" range, up from previous "mid-teens" expectations. The balance sheet shows $577.8 million in net debt, primarily from the Nissens acquisition and seasonal working capital increases. The company maintains its goal of reducing leverage to 2.0x Adjusted EBITDA by the end of 2026.

Two operational developments warrant attention: 1) The opening of a new 575,000 square foot distribution center in Shawnee, Kansas, which enhances nationwide coverage and increases distribution capacity by 200,000 net square feet, and 2) The company's strategic approach to tariff mitigation, leveraging its diverse manufacturing footprint with over half of U.S. sales coming from tariff-free North American production.

The board approved a quarterly dividend of $0.31 per share, payable September 2, 2025, reflecting confidence in the company's financial position and future prospects.

• Second quarter net sales of $493.9 million up 26.7%, and up 3.5% excluding Nissens
• Second quarter adjusted EBITDA margin increased 190 basis points to 12.0%
• Adjusted Q2 diluted earnings per share of $1.29 increased 31.6% from last year
• Raising full-year sales guidance to low 20's percent growth range, including Nissens, reflecting strong first half results

NEW YORK, Aug. 5, 2025 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, reported today its consolidated financial results for the three and six months ended June 30, 2025.

Net sales for the second quarter of 2025 were $493.9 million, compared to consolidated net sales of $389.8 million during the same quarter in 2024. Earnings from continuing operations for the second quarter of 2025 were $26.3 million or $1.17 per diluted share, compared to earnings of $18.0 million or $0.81 per diluted share in the second quarter of 2024. Excluding non-operational gains and losses identified on the attached reconciliation of GAAP and non-GAAP measures, earnings from continuing operations for the second quarter of 2025 were $28.9 million or $1.29 per diluted share, compared to $21.7 million or $0.98 per diluted share in the second quarter of 2024. 

Consolidated net sales for the six months ended June 30, 2025, were $907.2 million, compared to consolidated net sales of $721.2 million during the comparable period in 2024. Earnings from continuing operations for the six months ended June 30, 2025, were $40 million or $1.79 per diluted share, compared to $27.8 million or $1.25 per diluted share in the comparable period of 2024. Excluding non-operational gains and losses identified on the attached reconciliation of GAAP and non-GAAP measures, earnings from continuing operations for the six months ended June 30, 2025 and 2024 were $46.9 million or $2.10 per diluted share and $31.7 million or $1.42 per diluted share, respectively. 

Mr. Eric Sills, Standard Motor Products' Chairman and Chief Executive Officer stated, "We are very pleased with our strong second quarter results, especially following our record quarter last year. Sales for the quarter increased nearly 27%, or 3.5% excluding the impact of Nissens Automotive (Nissens). This reflects an ongoing trend, as year-to-date we are up 26%, or 4.1% excluding Nissens. Additionally, adjusted diluted earnings per share grew 31.6% for the quarter and 47.9% for the year."

Segment Highlights

North American Aftermarket Segments

• Vehicle Control sales rose nearly 7% in the second quarter, continuing the momentum from the first quarter. Strong customer order activity and solid sell-through underscore the non-discretionary nature of our products.
  
  
• Temperature Control sales increased 5.5%, despite a challenging comparison to last year's 28% second-quarter growth. We believe this year's early pre-season orders positioned our customers well for the start of the selling season. Year-to-date, the segment is up 12.3%, building on last year's 15.8% growth for the same period.

Nissens
Our newest segment, Nissens, posted another solid quarter as it contributed sales of $90.5 million, with an adjusted EBITDA margin of 18.0%, ahead of our full-year expectations of mid-teens. Nissens continues to outperform in its markets and is enjoying some of the same weather-related tailwinds as in the U.S. 

Eight months into the acquisition, integration efforts are in full stride with many initiatives tracking ahead of plan. We remain very confident in achieving our initial target of $8-12 million in run-rate cost reduction synergies within 24 months of ownership. Additionally, we have now begun implementing growth synergies, launching over 800 new items in North America.

Engineered Solutions
Sales in the Engineered Solutions segment declined 8.3% year-over-year, reflecting continued softness in certain end markets. While we expect general weakness to continue in the near term, we believe demand has stabilized, and second half comparisons become easier.

Profitability & Balance Sheet
Adjusted EBITDA increased to $59.1 million, up from $39.5 million last year, driven by strong performance in our North American aftermarket segments as well as the $16.3 million contributed from Nissens. Adjusted EBITDA margin climbed 190 basis points to 12.0%, due to the higher rate of Nissens, leverage on the solid sales from our North American aftermarket segments, and ongoing cost containment actions. We remain focused on our cost savings initiatives and continue to look at ways to drive margin improvement going forward. 

From a balance sheet perspective, our cash flows and borrowings were in line with expectations. Total net debt at quarter-end stood at $577.8 million, primarily reflecting additional borrowings related to our Nissens acquisition and seasonal working capital build. Our debt leverage declined in the quarter on the strength of our results, and we continue to target getting debt levels to 2.0x Adjusted EBITDA by the end of 2026.

New Distribution Center
During the quarter, we officially opened our new 575,000 square foot state-of-the-art distribution center (DC) in Shawnee, Kansas. This facility increases our total distribution footprint by over 200,000 net square feet, and provides a centralized location that offers coverage across the United States. The Shawnee facility will enhance our overall distribution capabilities and better serve our customers' increasing fulfillment needs. We will be ramping up over the balance of the year and intend to exit the Edwardsville DC by year-end and sell the facility thereafter.

Tariff Impact & Mitigation
On tariffs, we believe our diverse global footprint provides us with a competitive advantage. Over half of our U.S. sales are from North American-made, USMCA-compliant products, which are largely tariff-free. For products sourced from other regions, we are implementing our mitigation plan as previously described, which includes cost containment through cost-sharing with our suppliers, re-sourcing to lower-tariffed countries, and lastly from pass-through pricing to our customers. As there is a timing delay between costs incurred and pass-throughs to customers, we did experience some tariff costs in the second quarter without the offsetting pricing. We expect ongoing costs to be offset with pricing going forward. We continue to monitor the shifting tariff landscape, and plan to implement any changes as necessary.

Updated 2025 Guidance
We are raising our full year sales growth guidance to the low-20's percent range, up from our prior mid-teens expectation, and we reaffirm our adjusted EBITDA margin outlook of 10-11%. Note that our revised guidance now includes the impact of tariffs as they stand as of the end of the second quarter, and includes both pricing and other mitigating actions to offset higher costs. While passing through tariff pricing at our cost creates margin rate compression, we're pleased to see sales growth and other initiatives offset this headwind and allow us to reaffirm EBITDA guidance.

Dividends
The Board of Directors has approved payment of a quarterly dividend of 31 cents per share on the common stock outstanding, which will be paid on September 2, 2025, to stockholders of record on August 15, 2025.

Closing Remarks
In closing, Mr. Sills commented, "The first half of 2025 exceeded our expectations despite the volatile macroeconomic environment. Our North American aftermarket segments delivered the strongest first half in our history, demonstrating the strength of our market position and the resilience of our industry. Nissens continued to deliver an above market growth rate and holds a market leading position in Europe, supported by the same favorable dynamics we see in the North American aftermarket. We are excited about our future path and remain optimistic about our long-term potential, led by growth and savings synergies with Nissens, along with our ongoing efforts to gain efficiencies and savings across our operations. I would like to thank our employees for their hard work and commitment to our continued success."

Conference Call
Standard Motor Products, Inc. will hold a conference call at 11:00 AM, Eastern Time, on Tuesday, August 5, 2025. This call will be webcast and can be accessed on our website at www.smpcorp.com and clicking on the SMP Q2'25 Earnings Call Webcast link. Investors may also listen to the call by dialing 800-343-4136 (domestic) or 203-518-9843 (international). The conference call ID code is SMP2Q2025. Our playback will be made available for dial in immediately following the call. For those choosing to listen to the replay by webcast, the link should be active on our website within 24 hours after the call. The playback number is 800-759-0728 (domestic) or 402-220-7229 (international).

Under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Standard Motor Products cautions investors that any forward-looking statements made by the company, including those that may be made in this press release, are based on management's expectations at the time they are made, but they are subject to risks and uncertainties that may cause actual results, events or performance to differ materially from those contemplated by such forward looking statements. Among the factors that could cause actual results, events or performance to differ materially from those risks and uncertainties discussed in this press release are those detailed from time-to-time in prior press releases and in the company's filings with the Securities and Exchange Commission, including the company's annual report on Form 10-K and quarterly reports on Form 10-Q. By making these forward-looking statements, Standard Motor Products undertakes no obligation or intention to update these statements after the date of this release.

Standard Motor Products, Inc. Consolidated Statements of Operations
	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands, except share and per share data, unaudited)	2025		2024		2025		2024
Net sales	$              493,853		$              389,829		$              907,232		$              721,232
Cost of sales	342,964		278,382		631,621		520,263
Gross profit	150,889		111,447		275,611		200,969
Selling, general and administrative expenses	107,520		83,885		207,365		158,618
Restructuring expenses	582		2,559		1,255		2,751
Other income (expense), net	49		(17)		307		5
Operating income	42,836		24,986		67,298		39,605
Other non-operating income, net	1,875		2,199		4,123		3,018
Interest expense	8,295		2,752		16,056		4,819
Earnings from continuing operations before income taxes	36,416		24,433		55,365		37,804
Provision for income taxes	9,821		6,109		14,890		9,451
Earnings from continuing operations	26,595		18,324		40,475		28,353
Loss from discontinued operations, net of income taxes	(1,058)		(917)		(2,197)		(1,956)
Net earnings	25,537		17,407		38,278		26,397
Net earnings attributable to noncontrolling interest	295		344		470		510
Net earnings attributable to SMP	$                25,242		$                17,063		$                37,808		$                25,887
Net earnings (loss) attributable to SMP
Continuing operations	$                26,300		$                17,980		$                40,005		$                27,843
Discontinued operations	(1,058)		(917)		(2,197)		(1,956)
Net earnings attributable to SMP	$                25,242		$                17,063		$                37,808		$                25,887
Per common share data
Basic:
Continuing operations	$                    1.20		$                    0.83		$                    1.82		$                    1.27
Discontinued operations	(0.05)		(0.05)		(0.10)		(0.09)
Net earnings attributable to SMP per common share	$                    1.15		$                    0.78		$                    1.72		$                    1.18
Diluted:
Continuing operations	$                    1.17		$                    0.81		$                    1.79		$                    1.25
Discontinued operations	(0.04)		(0.04)		(0.10)		(0.09)
Net earnings attributable to SMP per common share	$                    1.13		$                    0.77		$                    1.69		$                    1.16
Dividend declared per common share	$                    0.31		$                    0.29		$                    0.62		$                    0.58
Weighted average number of common shares, basic	21,984,492		21,767,526		21,935,921		21,845,678
Weighted average number of common shares, diluted	22,423,208		22,185,536		22,359,693		22,277,590

 

Standard Motor Products, Inc. Segment Revenues
	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, unaudited)	2025		2024		2025		2024
Vehicle Control
Engine Management (Ignition, Emissions and Fuel Delivery)	$         128,233		$         115,529		$         246,599		$         231,614
Electrical and Safety	56,828		57,128		115,147		109,535
Wire Sets and Other	16,638		16,084		32,295		33,116
Total Vehicle Control	201,699		188,741		394,041		374,265
Temperature Control
AC System Components	104,777		99,970		171,968		149,930
Other Thermal Components	26,588		24,511		48,280		46,159
Total Temperature Control	131,365		124,481		220,248		196,089
Nissens Automotive
Air Conditioning	40,441		—		67,607		—
Engine Cooling	35,082		—		62,855		—
Engine Efficiency	15,014		—		26,257		—
Total Nissens Automotive	90,537		—		156,719		—
Engineered Solutions
Light Vehicle	21,780		24,686		43,184		46,489
Commercial Vehicle	21,836		23,483		40,441		46,391
Construction/Agriculture	9,584		9,473		18,992		19,549
All Other	17,052		18,965		33,607		38,449
Total Engineered Solutions	70,252		76,607		136,224		150,878
Total	$         493,853		$         389,829		$         907,232		$         721,232

 

Standard Motor Products, Inc
Segment Operating Profit
		Three Months Ended June 30,						Six Months Ended June 30,
(in thousands, unaudited; percentage of net sales)		2025			2024			2025			2024
Gross Margin
Vehicle Control		$     60,648	30.1 %		$     59,969	31.8 %		$   122,809	31.2 %		$ 118,868	31.8 %
Temperature Control		42,363	32.2 %		36,609	29.4 %		69,961	31.8 %		56,298	28.7 %
Nissens Automotive		36,815	40.7 %		—	— %		64,653	41.3 %		—	— %
Engineered Solutions		12,689	18.1 %		14,869	19.4 %		24,398	17.9 %		25,803	17.1 %
All Other		—			—			—			—
Subtotal		$   152,515	30.9 %		$   111,447	28.6 %		$   281,821	31.1 %		$ 200,969	27.9 %
Acquisition & Integration Expenses		(1,626)	-0.3 %		—	— %		(6,210)	-0.7 %		—	— %
Gross Margin		$   150,889	30.6 %		$   111,447	28.6 %		$   275,611	30.4 %		$ 200,969	27.9 %
Selling, General & Administrative
Vehicle Control		$     43,564	21.6 %		$     43,844	23.2 %		$     87,399	22.2 %		$   87,102	23.3 %
Temperature Control		22,840	17.4 %		23,165	18.6 %		42,663	19.4 %		40,765	20.8 %
Nissens Automotive		23,985	26.5 %		—	— %		44,239	28.2 %		—	— %
Engineered Solutions		8,718	12.4 %		8,676	11.3 %		17,232	12.6 %		17,367	11.5 %
All Other		7,139			5,789			13,995			10,973
Subtotal		$   106,246	21.5 %		$     81,474	20.9 %		$   205,528	22.7 %		$ 156,207	21.7 %
Acquisition & Integration Expenses		1,274	0.3 %		2,411	0.6 %		1,837	0.2 %		2,411	0.3 %
Selling, General & Administrative		$   107,520	21.8 %		$     83,885	21.5 %		$   207,365	22.9 %		$ 158,618	22.0 %
Operating Income
Vehicle Control		$     17,084	8.5 %		$     16,125	8.5 %		$     35,410	9.0 %		$   31,766	8.5 %
Temperature Control		19,523	14.9 %		13,444	10.8 %		27,298	12.4 %		15,533	7.9 %
Nissens Automotive		12,830	14.2 %		—	— %		20,414	13.0 %		—	— %
Engineered Solutions		3,971	5.7 %		6,193	8.1 %		7,166	5.3 %		8,436	5.6 %
All Other		(7,139)			(5,789)			(13,995)			(10,973)
Subtotal		$     46,269	9.4 %		$     29,973	7.7 %		$     76,293	8.4 %		$   44,762	6.2 %
Restructuring & Integration		(582)	-0.1 %		(2,559)	-0.7 %		(1,255)	-0.1 %		(2,751)	-0.4 %
Acquisition & Integration Expenses		(2,900)	-0.6 %		(2,411)	-0.6 %		(8,047)	-0.9 %		(2,411)	-0.3 %
Other Income, Net		49	— %		(17)	— %		307	— %		5	— %
Operating Income		$     42,836	8.7 %		$     24,986	6.4 %		$     67,298	7.4 %		$   39,605	5.5 %

 

Standard Motor Products, Inc
Reconciliation of GAAP and Non-GAAP Measures
(In thousands, except per share amounts, unaudited)		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2025		2024		2025		2024
Earnings from Continuing Operations Attributable To SMP
GAAP Earnings from Continuing Operations		$            26,300		$            17,980		$            40,005		$            27,843
Restructuring Expenses		582		2,559		1,255		2,751
Acquisition & Integration Expenses		2,900		2,411		8,047		2,411
Income Tax Effect Related To Reconciling Items		(906)		(1,292)		(2,419)		(1,342)
Non-GAAP Earnings from Continuing Operations		$            28,876		$            21,658		$            46,888		$            31,663
Diluted Earnings Per Share from Continuing Operations Attributable to SMP
GAAP Diluted Earnings Per Share from Continuing Operations		$                1.17		$                0.81		$                1.79		$                1.25
Restructuring Expenses		0.03		0.12		0.06		0.12
Acquisition & Integration Expenses		0.13		0.11		0.36		0.11
Income Tax Effect Related To Reconciling Items		(0.04)		(0.06)		(0.11)		(0.06)
Non-GAAP Diluted Earnings Per Share from Continuing Operations		$                1.29		$                0.98		$                2.10		$                1.42
Operating Income
GAAP Operating Income		$            42,836		$            24,986		$            67,298		$            39,605
Restructuring Expenses		582		2,559		1,255		2,751
Acquisition & Integration Expenses		2,900		2,411		8,047		2,411	Last Twelve Months Ended
Other Income (Expense), Net		(49)		17		(307)		(5)	June 30,				Year Ended
Non-GAAP Operating Income		$            46,269		$            29,973		$            76,293		$            44,762	2025		2024		December 31, 2024
EBITDA without Special Items
GAAP Earnings from Continuing Operations Before Taxes		$            36,416		$            24,433		$            55,365		$            37,804	$          91,550		$          77,714		$                 73,989
Depreciation and Amortization		10,925		7,318		21,192		14,619	37,986		29,512		31,413
Interest Expense		8,295		2,752		16,056		4,819	24,749		10,961		13,512
EBITDA		55,636		34,503		92,613		57,242	154,285		118,187		118,914
Restructuring Expenses		582		2,559		1,255		2,751	6,172		4,187		7,668
Acquisition & Integration Expenses		2,900		2,411		8,047		2,411	19,112		2,411		13,476
Special Items		3,482		4,970		9,302		5,162	25,284		6,598		21,144
EBITDA without Special Items		$            59,118		$            39,473		$          101,915		$            62,404	$        179,569		$        124,785		$               140,058
Management believes that Non-GAAP earnings from continuing operations and Non-GAAP diluted earnings per share from continuing operations which are attributable to SMP, and Non-GAAP operating income and EBITDA without special items, each of which are Non-GAAP measurements and are adjusted for special items, are meaningful to investors because they provide a view of the company with respect to ongoing operating results.  Special items represent significant charges or credits that are important to an understanding of the company's overall operating results in the periods presented. Such Non-GAAP measurements are not recognized in accordance with generally accepted accounting principles and should not be viewed as an alternative to GAAP measures of performance

 

 

Standard Motor Products, Inc
Reconciliation of GAAP and Non-GAAP Measures by Segments
		Three Months Ended June 30, 2025
(In thousands, unaudited)		Vehicle Control		Temperature Control		Nissens Automotive		Engineered Solutions		All Other		Consolidated
Operating Income
GAAP Operating Income		$     16,540		$           19,536		$        10,034		$          3,954		$       (7,228)		$           42,836
Restructuring Expenses		479		53		—		39		11		582
Acquisition & Integration Expenses		—		—		2,822		—		78		2,900
Other (Income) Expense, Net		65		(66)		(26)		(22)		—		(49)
Non-GAAP Operating Income		$     17,084		$           19,523		$        12,830		$          3,971		$       (7,139)		$           46,269
EBITDA without Special Items
GAAP Earnings from Continuing Operations Before Taxes		$     15,449		$           19,602		$          4,653		$          3,988		$       (7,276)		$           36,416
Depreciation and Amortization		4,070		784		3,325		2,427		319		10,925
Interest Expense		1,546		762		5,513		543		(69)		8,295
EBITDA		21,065		21,148		13,491		6,958		(7,026)		55,636
Restructuring Expenses		479		53		—		39		11		582
Acquisition & Integration Expenses		—		—		2,822		—		78		2,900
Special Items		479		53		2,822		39		89		3,482
EBITDA without Special Items		$     21,544		$           21,201		$        16,313		$        6,997		$       (6,937)		$           59,118
% of Net Sales		10.7 %		16.1 %		18.0 %		10.0 %				12.0 %
		Three Months Ended June 30, 2024
(In thousands, unaudited)		Vehicle Control		Temperature Control		Nissens Automotive		Engineered Solutions		All Other		Consolidated
Operating Income
GAAP Operating Income		$     15,116		$           13,197		$             —		$          5,812		$       (9,139)		$           24,986
Restructuring Expenses		1,009		247		—		364		939		2,559
Acquisition & Integration Expenses		—		—		—		—		2,411		2,411
Other Income, Net		—		—		—		17		—		17
Non-GAAP Operating Income		$     16,125		$           13,444		$             —		$          6,193		$       (5,789)		$           29,973
EBITDA without Special Items
GAAP Earnings from Continuing Operations Before Taxes		$     13,067		$           13,978		$             —		$          6,529		$       (9,141)		$           24,433
Depreciation And Amortization		3,606		780		—		2,463		469		7,318
Interest Expense		1,899		726		—		706		(579)		2,752
EBITDA		18,572		15,484		—		9,698		(9,251)		34,503
Restructuring Expenses		1,009		247		—		364		939		2,559
Acquisition & Integration Expenses		—		—		—		—		2,411		2,411
Special Items		1,009		247		—		364		3,350		4,970
EBITDA without Special Items		$     19,581		$         15,731		$             —		$        10,062		$       (5,901)		$           39,473
% of Net Sales		10.4 %		12.6 %		— %		13.1 %				10.1 %
Management believes that Non-GAAP operating income and EBITDA without special items, each of which are Non-GAAP measurements and are adjusted for special items, are meaningful to investors because they provide a view of the company with respect to ongoing operating results.  Special items represent significant charges or credits that are important to an understanding of the company's overall operating results in the periods presented. Such Non-GAAP measurements are not recognized in accordance with generally accepted accounting principles and should not be viewed as an alternative to GAAP measures of performance

 

Standard Motor Products, Inc
Reconciliation of GAAP and Non-GAAP Measures by Segments
		Six Months Ended June 30, 2025
(In thousands, unaudited)		Vehicle Control		Temperature Control		Nissens Automotive		Engineered Solutions		All Other		Consolidated
Operating Income
GAAP Operating Income		$     34,322		$        27,436		$        12,621		$          7,130		$     (14,211)		$        67,298
Restructuring Expenses		1,005		189		—		59		2		1,255
Acquisition & Integration Expenses		—		—		7,833		—		214		8,047
Other (Income) Expense, Net		83		(327)		(40)		(23)		—		(307)
Non-GAAP Operating Income		$     35,410		$        27,298		$        20,414		$          7,166		$     (13,995)		$        76,293
EBITDA without Special Items
GAAP Earnings from Continuing Operations Before Taxes		$     32,495		$        27,550		$          2,502		$          7,419		$     (14,601)		$        55,365
Depreciation and Amortization		7,739		1,562		6,312		4,927		652		21,192
Interest Expense		2,553		1,301		11,133		1,002		67		16,056
EBITDA		42,787		30,413		19,947		13,348		(13,882)		92,613
Restructuring Expenses		1,005		189		—		59		2		1,255
Acquisition & Integration Expenses		—		—		7,833		—		214		8,047
Special Items		1,005		189		7,833		59		216		9,302
EBITDA without Special Items		$     43,792		$        30,602		$        27,780		$      13,407		$     (13,666)		$      101,915
% of Net Sales		11.1 %		13.9 %		17.7 %		9.8 %				11.2 %
		Six Months Ended June 30, 2024
(In thousands, unaudited)		Vehicle Control		Temperature Control		Nissens Automotive		Engineered Solutions		All Other		Consolidated
Operating Income
GAAP Operating Income		$     30,656		$        15,228		$             —		$          8,044		$     (14,323)		$        39,605
Restructuring Expenses		1,110		305		—		397		939		2,751
Acquisition & Integration Expenses		—		—		—		—		2,411		2,411
Other Income, Net		—		—		—		(5)		—		(5)
Non-GAAP Operating Income		$     31,766		$        15,533		$             —		$          8,436		$     (10,973)		$        44,762
EBITDA without Special Items
GAAP Earnings from Continuing Operations Before Taxes		$     27,382		$        15,866		$             —		$          8,875		$     (14,319)		$        37,804
Depreciation And Amortization		7,131		1,678		—		4,932		878		14,619
Interest Expense		3,326		1,257		—		1,370		(1,134)		4,819
EBITDA		37,839		18,801		—		15,177		(14,575)		57,242
Restructuring Expenses		1,110		305		—		397		939		2,751
Acquisition & Integration Expenses		—		—		—		—		2,411		2,411
Special Items		1,110		305		—		397		3,350		5,162
EBITDA without Special Items		$     38,949		$      19,106		$             —		$        15,574		$     (11,225)		$        62,404
% of Net Sales		10.4 %		9.7 %		— %		10.3 %				8.7 %
Management believes that Non-GAAP operating income and EBITDA without special items, each of which are Non-GAAP measurements and are adjusted for special items, are meaningful to investors because they provide a view of the company with respect to ongoing operating results.  Special items represent significant charges or credits that are important to an understanding of the company's overall operating results in the periods presented. Such Non-GAAP measurements are not recognized in accordance with generally accepted accounting principles and should not be viewed as an alternative to GAAP measures of performance

 

Standard Motor Products, Inc
Condensed Consolidated Balance Sheets
(In thousands)		June 2025		June 2024		December 2024
		Unaudited		Unaudited
ASSETS
Cash		$                    58,792		$                    26,156		$                     44,426
Accounts Receivable, Gross		335,047		247,989		216,191
Allowance For Expected Credit Losses		7,777		8,672		5,472
Accounts Receivable, Net		327,270		239,317		210,719
Inventories		638,594		508,183		624,913
Unreturned Customer Inventory		18,567		18,119		16,163
Other Current Assets		21,841		24,880		25,703
Total Current Assets		1,065,064		816,655		921,924
Property, Plant And Equipment, Net		183,508		131,921		168,735
Operating Lease Right-of-use Assets		111,731		99,121		109,899
Goodwill		256,266		134,476		241,418
Customer Relationships Intangibles, Net		221,024		72,069		210,430
Other Intangibles, Net		99,326		15,528		90,540
Deferred Income Taxes		15,545		40,287		13,199
Investment In Unconsolidated Affiliates		23,495		25,615		24,842
Other Assets		31,389		38,656		33,139
Total Assets		$              2,007,348		$              1,374,328		$               1,814,126
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Portion Of Revolving Credit Facility		$                    10,000		$                            —		$                     10,800
Current Portion Of Term Loan And Other Debt		20,818		5,030		16,317
Accounts Payable		171,356		105,094		148,009
Accrued Customer Returns		75,207		53,102		46,471
Accrued Core Liability		12,040		16,017		12,807
Accrued Rebates		76,274		54,280		76,168
Payroll And Commissions		38,573		32,404		40,964
Sundry Payables And Accrued Expenses		88,147		66,239		84,936
Total Current Liabilities		492,415		332,166		436,472
Long-term Debt		605,811		203,162		535,197
Noncurrent Operating Lease Liability		99,770		88,820		98,214
Accrued Asbestos Liabilities		30,527		66,357		84,568
Other Liabilities		75,366		29,501		29,593
Total Liabilities		1,303,889		720,006		1,184,044
Total SMP Stockholders' Equity		688,619		640,018		615,745
Noncontrolling Interest		14,840		14,304		14,337
Total Stockholders' Equity		703,459		654,322		630,082
Total Liabilities And Stockholders' Equity		$              2,007,348		$              1,374,328		$               1,814,126

 

Standard Motor Products, Inc
Condensed Consolidated Statements of Cash Flows
	Six Months Ended
	June 30,
(In thousands, unaudited)	2025		2024
Cash Flows From Operating Activities
Net Earnings	$                38,278		$                26,397
Adjustments To Reconcile Net Earnings To Net Cash Used In Operating Activities:
Depreciation And Amortization	21,192		14,619
Other	11,798		7,516
Change In Assets And Liabilities:
Accounts Receivable	(108,180)		(81,060)
Inventory	(3,217)		(3,641)
Accounts Payable	17,068		(2,168)
Prepaid Expenses And Other Current Assets	5,816		2,757
Sundry Payables And Accrued Expenses	15,863		29,966
Other	(4,521)		(4,525)
Net Cash Used In Operating Activities	(5,903)		(10,139)
Cash Flows From Investing Activities
Capital Expenditures	(19,295)		(22,941)
Other Investing Activities	2,972		18
Net Cash Used In Investing Activities	(16,323)		(22,923)
Cash Flows From Financing Activities
Net Change In Debt	45,868		51,986
Purchase Of Treasury Stock	—		(10,409)
Dividends Paid	(13,592)		(12,706)
Other Financing Activities	348		(400)
Net Cash Provided By Financing Activities	32,624		28,471
Effect Of Exchange Rate Changes On Cash	3,968		(1,779)
Net Increase (Decrease) In Cash	14,366		(6,370)
Cash At Beginning Of Period	44,426		32,526
Cash At End Of Period	$                58,792		$                26,156

 

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SOURCE Standard Motor Products, Inc.

FAQ

What were SMP's Q2 2025 earnings per share?

SMP reported adjusted diluted earnings per share of $1.29, a 31.6% increase from $0.98 in Q2 2024.

How much did SMP's revenue grow in Q2 2025?

SMP's revenue grew 26.7% to $493.9 million, or 3.5% excluding the Nissens acquisition, compared to $389.8 million in Q2 2024.

What is SMP's dividend payment for Q2 2025?

SMP declared a quarterly dividend of $0.31 per share, payable on September 2, 2025, to stockholders of record on August 15, 2025.

How is the Nissens acquisition performing for SMP?

Nissens contributed $90.5 million in sales with an 18.0% adjusted EBITDA margin, exceeding full-year expectations of mid-teens margins.

What is SMP's updated guidance for 2025?

SMP raised its full-year sales growth guidance to the low-20's percent range and reaffirmed adjusted EBITDA margin outlook of 10-11%.