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

Insights

Equity Research Analyst

Strong Q3 sales and margins, raised guidance, and a maintained dividend point to a materially positive quarter for SMP.

Standard Motor Products delivered third quarter net sales of $498.8 million, up 24.9% year-over-year (up 3.8% ex‑Nissens), and reported adjusted Q3 diluted EPS of $1.36 and adjusted YTD EPS of $3.45, increases of 6.3% and 27.8% respectively. Management raised full‑year sales guidance to the low‑to‑mid 20's growth range and tightened adjusted EBITDA margin guidance to 10.5%–11%. The company also declared a quarterly dividend of $0.31 per share to be paid on December 1, 2025. These are concrete, positive operational and cash‑return signals tied to reported results.

The business driver is clear: strong performance in Temperature Control and the contribution from the acquired Nissens (Q3 sales $84.5 million with adjusted EBITDA margin 16.8%) lifted consolidated sales and adjusted EBITDA to $61.7 million for the quarter and $163.6 million YTD. Key dependencies and risks disclosed include tariff exposure (management states tariffs are currently offset by pricing and mitigations), seasonal working capital build affecting net debt (total net debt $502.3 million), and the company’s plan to reduce leverage to 2.0x adjusted EBITDA by end of 2026. The release also notes headwinds in Vehicle Control wire sales and stabilization in Engineered Solutions volumes.

Concrete items to watch: realized margin versus the tightened 10.5%–11% adjusted EBITDA guidance for full year 2025; progress on debt reduction toward the 2.0x leverage target by end of 2026; and integration/synergy milestones for Nissens, including planned new product category launches. Expect near‑term updates at the next quarterly report and management commentary on tariff pass‑through and working capital in upcoming calls within the next 12 months.

• Third quarter net sales of $498.8 million up 24.9%, and up 3.8% excluding Nissens
  
  
• Adjusted Q3 and year-to-date non-GAAP diluted earnings per share of $1.36 and $3.45 increased 6.3% and 27.8% from last year, respectively
  
  
• Raising full-year sales guidance to low-to-mid 20's percent growth range, including Nissens, and tightening adjusted EBITDA margin outlook to 10.5% - 11% reflecting strong year-to-date results

NEW YORK, Oct. 31, 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 nine months ended September 30, 2025.

Net sales for the third quarter of 2025 were $498.8 million, compared to consolidated net sales of $399.3 million during the same quarter in 2024. Earnings from continuing operations for the third quarter of 2025 were $29.8 million or $1.32 per diluted share, compared to earnings of $26.6 million or $1.20 per diluted share in the third 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 third quarter of 2025 were $30.6 million or $1.36 per diluted share, compared to $28.3 million or $1.28 per diluted share in the third quarter of 2024. 

Consolidated net sales for the nine months ended September 30, 2025, were $1.41 billion, compared to consolidated net sales of $1.12 billion during the comparable period in 2024. Earnings from continuing operations for the nine months ended September 30, 2025, were $69.8 million or $3.11 per diluted share, compared to $54.4 million or $2.45 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 nine months ended September 30, 2025 and 2024 were $77.5 million or $3.45 per diluted share and $59.9 million or $2.70 per diluted share, respectively. 

Mr. Eric Sills, Standard Motor Products' Chairman and Chief Executive Officer stated, "We are very pleased with our solid third quarter results, especially following our record quarter last year. Sales for the quarter increased nearly 25%, or 3.8% excluding the impact of Nissens Automotive (Nissens). This reflects an ongoing trend, as year-to-date we are up 25.5%, or 4.0% excluding Nissens. Additionally, adjusted non-GAAP diluted earnings per share grew 6.3% for the quarter and 27.8% for the year."

Third Quarter Highlights:
North American Aftermarket Segments

• Vehicle Control sales were down 1.6% in the third quarter, against a difficult comparison, and impacted by softness in the wire category which is in secular decline. Customer POS was positive in the quarter, a continuation of the strong sell-through trend we have seen all year, underscoring the non-discretionary nature of our products. Year-to-date, we are up 2.9% in the segment.
  
  
• Temperature Control sales increased 14.8%, a continuation of the strong sales pattern experienced throughout the year. We believe our customers were able to expand share, aided by this year's early pre-season orders which positioned them well for the start of the selling season. Year-to-date, the segment is up 13.3%, building on last year's 9.9% growth for the same period last year.

Nissens

Our newest segment, Nissens, posted another solid quarter as it contributed sales of $84.5 million, with an adjusted EBITDA margin of 16.8%, in line with our full-year expectations of mid-teens. Nissens continues to outperform in its markets, executing on its value proposition and gaining share, and is enjoying the benefits of some favorable currency translation. 

Nearing our first full year of ownership, we are ahead of plan and very pleased with our synergy and integration efforts to date and have begun planning our next wave of initiatives, including capitalizing on each other's strengths to launch new product categories. 

Engineered Solutions
Sales in the Engineered Solutions segment were essentially flat in the quarter, reflecting a leveling off in certain end markets. While it is difficult to predict when a general end-market rebound may occur, we believe demand has stabilized, and along with easier comparisons moving forward, we expect more steady performance for the segment.

Profitability & Balance Sheet
Adjusted EBITDA for the quarter increased to $61.7 million, up from $48.7 million last year, driven by strong performance in our Temperature Control segment, as well as the $14.2 million contributed from Nissens, partially offset by the impact of lower sales volume in the Vehicle Control segment. On a year-to-date basis, adjusted EBITDA increased to $163.6 million up from $111.1 million in the same period last year, again driven by strong performance in our Temperature Control segment, as well as the $42.0 million contributed from Nissens that resulted in an adjusted EBITDA margin improvement of 170 basis points to 11.6%.

From a balance sheet perspective, our cash flows and borrowings were in line with expectations. Total net debt at quarter-end stood at $502.3 million, primarily reflecting additional borrowings related to our Nissens acquisition and seasonal working capital build. Our debt leverage declined from 3.2x to 2.6x in the quarter on the strength of our results, and we continue to target reducing debt levels to 2.0x adjusted EBITDA by the end of 2026.

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 from pass-through pricing to our customers. Beginning in the third quarter of 2025, our ongoing tariff costs were generally offset with pricing, and we expect this offset to continue going forward. We are hopeful that we are nearing a more stabilized environment. 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-to-mid 20's percent range (from the low 20's percent range) and are tightening our adjusted EBITDA margin outlook to 10.5% - 11% (from a prior range of 10% - 11%). As a reminder, we acquired Nissens on November 1, 2024, and as such the sales growth guidance includes a partial quarter of ownership in the comparable sales. Also note that our revised guidance now includes the impact of tariffs as they stand as of the end of the third 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 raise our 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 December 1, 2025, to stockholders of record on November 14, 2025.

Closing Remarks
In closing, Mr. Sills commented, "This has been a strong year for SMP despite volatility related to tariffs, geopolitical issues and an uncertain macroeconomic environment. Demand for our North American aftermarket products remains solid as our customers continue to partner with us to service the aging fleet on the road today. We are investing in our business model to expand our position globally, capitalizing on complementary strengths with Nissens to expand on both sides of the ocean. We will continue to find ways to grow, improve profitability and deliver increased shareholder value, and as such are optimistic about our future. 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 Friday, October 31, 2025. This call will be webcast and can be accessed on our website at www.smpcorp.com and clicking on the SMP Q3'25 Earnings Call Webcast link. Investors may also listen to the call by dialing 800-579-2543 (domestic) or 785-424-1789 (international). The conference call ID code is SMP3Q2025. 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 800-934-8340 (domestic) or 402-220-6993 (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 September 30,				Nine Months Ended September 30,
(In thousands, except share and per share data, unaudited)	2025		2024		2025		2024
Net sales	$              498,836		$              399,265		$          1,406,068		$          1,120,497
Cost of sales	337,042		277,899		968,663		798,162
Gross profit	161,794		121,366		437,405		322,335
Selling, general and administrative expenses	113,388		81,204		320,753		239,822
Restructuring expenses	782		3,023		2,037		5,774
Other income, net	12		—		319		5
Operating income	47,636		37,139		114,934		76,744
Other non-operating income, net	1,734		2,129		5,857		5,147
Interest expense	7,394		3,145		23,450		7,964
Earnings from continuing operations before income taxes	41,976		36,123		97,341		73,927
Provision for income taxes	11,977		9,267		26,867		18,718
Earnings from continuing operations	29,999		26,856		70,474		55,209
Loss from discontinued operations, net of income taxes	(34,172)		(22,771)		(36,369)		(24,727)
Net earnings (loss)	(4,173)		4,085		34,105		30,482
Net earnings attributable to noncontrolling interest	162		275		632		785
Net earnings (loss) attributable to SMP	$                (4,335)		$                  3,810		$                33,473		$                29,697
Net earnings (loss) attributable to SMP
Continuing operations	$                29,837		$                26,581		$                69,842		$                54,424
Discontinued operations	(34,172)		(22,771)		(36,369)		(24,727)
Net earnings (loss) attributable to SMP	$                (4,335)		$                  3,810		$                33,473		$                29,697
Per common share data
Basic:
Continuing operations	$                    1.36		$                    1.22		$                    3.18		$                    2.50
Discontinued operations	(1.56)		(1.04)		(1.66)		(1.14)
Net earnings (loss) attributable to SMP per common share	$                  (0.20)		$                    0.18		$                    1.52		$                    1.36
Diluted:
Continuing operations	$                    1.32		$                    1.20		$                    3.11		$                    2.45
Discontinued operations	(1.51)		(1.03)		(1.62)		(1.11)
Net earnings (loss) attributable to SMP per common share	$                  (0.19)		$                    0.17		$                    1.49		$                    1.34
Dividend declared per common share	$                    0.31		$                    0.29		$                    0.93		$                    0.87
Weighted average number of common shares, basic	21,991,194		21,716,083		21,954,548		21,802,164
Weighted average number of common shares, diluted	22,571,304		22,154,222		22,439,082		22,225,444

 

Standard Motor Products, Inc. Segment Revenues
	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, unaudited)	2025		2024		2025		2024
Vehicle Control
Engine Management (Ignition, Emissions and Fuel Delivery)	$         121,420		$         121,432		$         368,019		$         353,046
Electrical and Safety	63,192		63,237		178,339		172,772
Wire Sets and Other	13,070		16,208		45,365		49,324
Total Vehicle Control	197,682		200,877		591,723		575,142
Temperature Control
AC System Components	114,033		95,698		286,001		245,628
Other Thermal Components	30,624		30,287		78,904		76,446
Total Temperature Control	144,657		125,985		364,905		322,074
Nissens Automotive
Air Conditioning	36,409		—		104,016		—
Engine Cooling	32,168		—		95,023		—
Engine Efficiency	15,960		—		42,217		—
Total Nissens Automotive	84,537		—		241,256		—
Engineered Solutions
Light Vehicle	21,977		24,287		65,161		70,776
Commercial Vehicle	21,111		22,625		61,552		69,016
Construction/Agriculture	8,863		8,082		27,855		27,631
All Other	20,247		17,409		53,854		55,858
Total Engineered Solutions	72,198		72,403		208,422		223,281
Other	(238)		—		(238)		—
Total	$         498,836		$         399,265		$      1,406,068		$      1,120,497

 

Standard Motor Products, Inc
Segment Operating Profit
		Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands, unaudited; percentage of net sales)		2025			2024			2025			2024
Gross Margin
Vehicle Control		$     62,166	31.4 %		$     65,652	32.7 %		$   184,975	31.3 %		$ 184,520	32.1 %
Temperature Control		51,946	35.9 %		42,323	33.6 %		121,907	33.4 %		98,621	30.6 %
Nissens Automotive		34,827	41.2 %		—	— %		99,480	41.2 %		—	— %
Engineered Solutions		12,855	17.8 %		13,391	18.5 %		37,253	17.9 %		39,194	17.6 %
All Other		—			—			—			—
Subtotal		$   161,794	32.4 %		$   121,366	30.4 %		$   443,615	31.6 %		$ 322,335	28.8 %
Acquisition Expenses		—	— %		—	— %		(6,210)	-0.4 %		—	— %
Gross Margin		$   161,794	32.4 %		$   121,366	30.4 %		$   437,405	31.1 %		$ 322,335	28.8 %
Selling, General & Administrative
Vehicle Control		$     46,277	23.4 %		$     43,021	21.4 %		$   133,676	22.6 %		$ 130,123	22.6 %
Temperature Control		25,196	17.4 %		25,876	20.5 %		67,859	18.6 %		66,641	20.7 %
Nissens Automotive		24,018	28.4 %		—	— %		68,257	28.3 %		—	— %
Engineered Solutions		8,754	12.1 %		8,124	11.2 %		25,986	12.5 %		25,491	11.4 %
All Other		8,844			5,190			22,839			16,163
Subtotal		$   113,089	22.7 %		$     82,211	20.6 %		$   318,617	22.7 %		$ 238,418	21.3 %
Acquisition Expenses		299	0.1 %		(1,007)	-0.3 %		2,136	0.2 %		1,404	0.1 %
Selling, General & Administrative		$   113,388	22.7 %		$     81,204	20.3 %		$   320,753	22.8 %		$ 239,822	21.4 %
Operating Income
Vehicle Control		$     15,889	8.0 %		$     22,631	11.3 %		$     51,299	8.7 %		$   54,397	9.5 %
Temperature Control		26,750	18.5 %		16,447	13.1 %		54,048	14.8 %		31,980	9.9 %
Nissens Automotive		10,809	12.8 %		—	— %		31,223	12.9 %		—	— %
Engineered Solutions		4,101	5.7 %		5,267	7.3 %		11,267	5.4 %		13,703	6.1 %
All Other		(8,844)			(5,190)			(22,839)			(16,163)
Subtotal		$     48,705	9.8 %		$     39,155	9.8 %		$   124,998	8.9 %		$   83,917	7.5 %
Restructuring		(782)	-0.2 %		(3,023)	-0.8 %		(2,037)	-0.1 %		(5,774)	-0.5 %
Acquisition & Integration Expenses		(299)	-0.1 %		1,007	0.3 %		(8,346)	-0.6 %		(1,404)	-0.1 %
Other Income, Net		12	— %		—	— %		319	— %		5	— %
Operating Income		$     47,636	9.5 %		$     37,139	9.3 %		$   114,934	8.2 %		$   76,744	6.8 %

 

Standard Motor Products, Inc
Reconciliation of GAAP and Non-GAAP Measures
(In thousands, except per share amounts, unaudited)		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2025		2024		2025		2024
Earnings from Continuing Operations Attributable To SMP
GAAP Earnings from Continuing Operations		$            29,837		$            26,581		$            69,842		$            54,424
Restructuring Expenses		782		3,023		2,037		5,774
Acquisition & Integration Expenses		299		(207)		8,346		2,204
Certain Tax Credits And Production Deductions Finalized In Period		—		(380)		—		(380)
Income Tax Effect Related To Reconciling Items		(281)		(732)		(2,700)		(2,074)
Non-GAAP Earnings from Continuing Operations		$            30,637		$            28,285		$            77,525		$            59,948
Diluted Earnings Per Share from Continuing Operations Attributable to SMP
GAAP Diluted Earnings Per Share from Continuing Operations		$                1.32		$                1.20		$                3.11		$                2.45
Restructuring  Expenses		0.04		0.14		0.09		0.26
Acquisition & Integration Expenses		0.01		(0.01)		0.37		0.10
Certain Tax Credits And Production Deductions Finalized In Period		—		(0.02)		—		(0.02)
Income Tax Effect Related To Reconciling Items		(0.01)		(0.03)		(0.12)		(0.09)
Non-GAAP Diluted Earnings Per Share from Continuing Operations		$                1.36		$                1.28		$                3.45		$                2.70
Operating Income
GAAP Operating Income		$            47,636		$            37,139		$          114,934		$            76,744
Restructuring Expenses		782		3,023		2,037		5,774
Acquisition & Integration Expenses		299		(1,007)		8,346		1,404	Last Twelve Months Ended
Other Income, Net		(12)		—		(319)		(5)	September 30,				Year Ended
Non-GAAP Operating Income		$            48,705		$            39,155		$          124,998		$            83,917	2025		2024		December 31, 2024
EBITDA without Special Items
GAAP Earnings from Continuing Operations Before Taxes		$            41,976		$            36,123		$            97,341		$            73,927	$          97,403		$          80,920		$                 73,989
Depreciation and Amortization		11,201		7,389		32,393		22,008	41,798		29,569		31,413
Interest Expense		7,394		3,145		23,450		7,964	28,998		10,485		13,512
EBITDA		60,571		46,657		153,184		103,899	168,199		120,974		118,914
Restructuring Expenses		782		3,023		2,037		5,774	3,931		7,033		7,668
Acquisition & Integration Expenses		299		(1,007)		8,346		1,404	20,418		1,404		13,476
Special Items		1,081		2,016		10,383		7,178	24,349		8,437		21,144
EBITDA without Special Items		$            61,652		$            48,673		$          163,567		$          111,077	$        192,548		$        129,411		$               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 September 30, 2025
(In thousands, unaudited)		Vehicle Control		Temperature Control		Nissens Automotive		Engineered Solutions		All Other		Consolidated
Operating Income
GAAP Operating Income		$     15,135		$           26,734		$        10,811		$          4,055		$       (9,099)		$           47,636
Restructuring Expenses		735		1		—		46		—		782
Acquisition & Integration Expenses		—		—		44		—		255		299
Other (Income) Expense, Net		19		15		(45)		(1)		—		(12)
Non-GAAP Operating Income		$     15,889		$           26,750		$        10,810		$          4,100		$       (8,844)		$           48,705
EBITDA without Special Items
GAAP Earnings from Continuing Operations Before Taxes		$     14,253		$           27,123		$          5,540		$          4,239		$       (9,179)		$           41,976
Depreciation and Amortization		4,174		785		3,333		2,574		335		11,201
Interest Expense		1,267		587		5,322		515		(297)		7,394
EBITDA		19,694		28,495		14,195		7,328		(9,141)		60,571
Restructuring Expenses		735		1		—		46		—		782
Acquisition & Integration Expenses		—		—		44		—		255		299
Special Items		735		1		44		46		255		1,081
EBITDA without Special Items		$     20,429		$           28,496		$        14,239		$        7,374		$       (8,886)		$           61,652
% of Net Sales		10.3 %		19.7 %		16.8 %		10.2 %				12.4 %
		Three Months Ended September 30, 2024
(In thousands, unaudited)		Vehicle Control		Temperature Control		Nissens Automotive		Engineered Solutions		All Other		Consolidated
Operating Income
GAAP Operating Income		$     21,029		$           16,074		$               —		$          5,010		$       (4,974)		$           37,139
Restructuring Expenses		1,602		373		—		257		791		3,023
Acquisition & Integration Expenses		—		—		—		—		(1,007)		(1,007)
Other Income, Net		—		—		—		—		—		—
Non-GAAP Operating Income		$     22,631		$           16,447		$               —		$          5,267		$       (5,190)		$           39,155
EBITDA without Special Items
GAAP Earnings from Continuing Operations Before Taxes		$     18,844		$           16,530		$               —		$          5,607		$       (4,858)		$           36,123
Depreciation And Amortization		3,850		802		—		2,308		429		7,389
Interest Expense		2,166		791		—		434		(246)		3,145
EBITDA		24,860		18,123		—		8,349		(4,675)		46,657
Restructuring Expenses		1,602		373		—		257		791		3,023
Acquisition & Integration Expenses		—		—		—		—		(1,007)		(1,007)
Special Items		1,602		373		—		257		(216)		2,016
EBITDA without Special Items		$     26,462		$         18,496		$               —		$          8,606		$       (4,891)		$           48,673
% of Net Sales		13.2 %		14.7 %				11.9 %				12.2 %

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
		Nine Months Ended September 30, 2025
(In thousands, unaudited)		Vehicle Control		Temperature Control		Nissens Automotive		Engineered Solutions		All Other		Consolidated
Operating Income
GAAP Operating Income		$     49,457		$        54,170		$        23,432		$        11,185		$     (23,310)		$      114,934
Restructuring Expenses		1,740		190		—		105		2		2,037
Acquisition & Integration Expenses		—		—		7,877		—		469		8,346
Other (Income) Expense, Net		102		(312)		(85)		(24)		—		(319)
Non-GAAP Operating Income		$     51,299		$        54,048		$        31,224		$        11,266		$     (22,839)		$      124,998
EBITDA without Special Items
GAAP Earnings from Continuing Operations Before Taxes		$     46,748		$        54,673		$          8,042		$        11,658		$     (23,780)		$        97,341
Depreciation and Amortization		11,913		2,347		9,645		7,501		987		32,393
Interest Expense		3,820		1,888		16,455		1,517		(230)		23,450
EBITDA		62,481		58,908		34,142		20,676		(23,023)		153,184
Restructuring Expenses		1,740		190		—		105		2		2,037
Acquisition & Integration Expenses		—		—		7,877		—		469		8,346
Special Items		1,740		190		7,877		105		471		10,383
EBITDA without Special Items		$     64,221		$        59,098		$        42,019		$      20,781		$     (22,552)		$      163,567
% of Net Sales		10.9 %		16.2 %		17.4 %		10.0 %				11.6 %
		Nine Months Ended September 30, 2024
(In thousands, unaudited)		Vehicle Control		Temperature Control		Nissens Automotive		Engineered Solutions		All Other		Consolidated
Operating Income
GAAP Operating Income		$     51,685		$        31,302		$             —		$        13,054		$     (19,297)		$        76,744
Restructuring Expenses		2,712		678		—		654		1,730		5,774
Acquisition & Integration Expenses		—		—		—		—		1,404		1,404
Other Income, Net		—		—		—		(5)		—		(5)
Non-GAAP Operating Income		$     54,397		$        31,980		$             —		$        13,703		$     (16,163)		$        83,917
EBITDA without Special Items
GAAP Earnings from Continuing Operations Before Taxes		$     46,226		$        32,396		$             —		$        14,482		$     (19,177)		$        73,927
Depreciation And Amortization		10,981		2,480		—		7,240		1,307		22,008
Interest Expense		5,492		2,048		—		1,804		(1,380)		7,964
EBITDA		62,699		36,924		—		23,526		(19,250)		103,899
Restructuring Expenses		2,712		678		—		654		1,730		5,774
Acquisition & Integration Expenses		—		—		—		—		1,404		1,404
Special Items		2,712		678		—		654		3,134		7,178
EBITDA without Special Items		$     65,411		$      37,602		$             —		$        24,180		$     (16,116)		$      111,077
% of Net Sales		11.4 %		11.7 %		— %		10.8 %				9.9 %

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)		September 2025		September 2024		December 2024
		Unaudited		Unaudited
ASSETS
Cash		$                    87,201		$                    26,348		$                     44,426
Accounts Receivable, Gross		304,599		225,827		216,191
Allowance For Expected Credit Losses		8,370		8,697		5,472
Accounts Receivable, Net		296,229		217,130		210,719
Inventories		656,777		503,015		624,913
Unreturned Customer Inventory		20,052		17,843		16,163
Other Current Assets		23,467		28,873		25,703
Total Current Assets		1,083,726		793,209		921,924
Property, Plant And Equipment, Net		187,333		138,490		168,735
Operating Lease Right-of-use Assets		107,789		96,039		109,899
Goodwill		256,152		134,725		241,418
Customer Relationships Intangibles, Net		216,480		—		210,430
Other Intangibles, Net		98,688		85,837		90,540
Deferred Income Taxes		19,611		45,315		13,199
Investment In Unconsolidated Affiliates		25,445		23,914		24,842
Other Assets		32,315		33,012		33,139
Total Assets		$              2,027,539		$              1,350,541		$               1,814,126
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Portion Of Revolving Credit Facility		$                    30,000		$                            —		$                     10,800
Current Portion Of Term Loan And Other Debt		20,839		2,685		16,317
Accounts Payable		178,295		112,404		148,009
Accrued Customer Returns		83,036		62,326		46,471
Accrued Core Liability		12,418		15,226		12,807
Accrued Rebates		83,694		53,163		76,168
Payroll And Commissions		47,059		37,050		40,964
Sundry Payables And Accrued Expenses		98,771		69,666		84,936
Total Current Liabilities		554,112		352,520		436,472
Long-term Debt		538,639		140,163		535,197
Noncurrent Operating Lease Liabilities		96,180		86,259		98,214
Accrued Asbestos Liabilities		115,042		89,544		84,568
Other Liabilities		31,434		28,611		29,593
Total Liabilities		1,335,407		697,097		1,184,044
Total SMP Stockholders' Equity		677,412		638,833		615,745
Noncontrolling Interest		14,720		14,611		14,337
Total Stockholders' Equity		692,132		653,444		630,082
Total Liabilities And Stockholders' Equity		$              2,027,539		$              1,350,541		$               1,814,126

 

Standard Motor Products, Inc
Condensed Consolidated Statements of Cash Flows
	Nine Months Ended
	September 30,
(In thousands, unaudited)	2025		2024
Cash Flows From Operating Activities
Net Earnings	$                34,105		$                30,482
Adjustments To Reconcile Net Earnings To Net Cash Used In Operating Activities:
Depreciation And Amortization	32,393		22,008
Loss From Discontinued Operations, Net Of Taxes	36,369		24,727
Other	9,526		4,473
Change In Assets And Liabilities:
Accounts Receivable	(78,691)		(59,040)
Inventory	(22,777)		2,895
Accounts Payable	22,431		4,487
Prepaid Expenses And Other Current Assets	3,403		(2,739)
Sundry Payables And Accrued Expenses	46,211		45,470
Other	2,711		5,437
Net Cash Provided by Operating Activities	85,681		78,200
Cash Flows From Investing Activities
Capital Expenditures	(29,334)		(34,136)
Other Investing Activities	3,043		18
Net Cash Used in Investing Activities	(26,291)		(34,118)
Cash Flows From Financing Activities
Net Change In Debt	(1,161)		(13,422)
Purchase Of Treasury Stock	—		(10,409)
Dividends Paid	(20,408)		(19,004)
Payments Of Debt Issuance Costs	—		(4,183)
Other Financing Activities	1,207		(651)
Net Cash Used in Financing Activities	(20,362)		(47,669)
Effect Of Exchange Rate Changes On Cash	3,747		(2,591)
Net Increase (Decrease) In Cash	42,775		(6,178)
Cash At Beginning Of Period	44,426		32,526
Cash At End Of Period	$                87,201		$                26,348

 

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SOURCE Standard Motor Products, Inc.