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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 5, 2025
STANDARD MOTOR PRODUCTS, INC.
(Exact Name of Registrant as Specified in its Charter)
New York
001-04743
11-1362020
(State or Other
Jurisdiction of Incorporation)
(Commission File Number)
(I.R.S. Employee
Identification Number)
37-18 Northern Boulevard, Long Island City, New York 11101
(Address of Principal Executive Offices, including Zip Code)
Registrant’s Telephone Number, including Area Code: 718-392-0200
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $2.00 per share SMP New York Stock Exchange LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o On August 5, 2025, Standard Motor Products, Inc. (the “Company”) issued a press release announcing its financial results for the three and six months ended June 30, 2025. A copy of such press release is furnished as Exhibit 99.1 hereto.


Item 2.02. Results of Operations and Financial Condition.


Such press release shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits.
99.1 Press release dated August 5, 2025 announcing Standard Motor Products, Inc.’s financial results for the three and six months ended June 30, 2025.
104 Cover Page Interactive Data File--the cover page XBRL tags are embedded within the Inline XBRL document.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
STANDARD MOTOR PRODUCTS, INC.
By: /s/ Nathan R. Iles
Nathan R. Iles
Chief Financial Officer
Date: August 5, 2025
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Exhibit Index
Exhibit No. Description
Press release dated August 5, 2025 announcing Standard Motor Products, Inc.’s financial results for the three and six months ended June 30, 2025.
104
Cover Page Interactive Data File--the cover page XBRL tags are embedded within the Inline XBRL document.
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EX-99.1 2 a991pressrelease-63025.htm EX-99.1 Document


Exhibit 99.1
logo021.jpg
For Immediate Release
For more information, contact:
Anthony (Tony) Cristello
Standard Motor Products, Inc.
(972) 316-8107
investors@smpcorp.com

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

•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, NY, August 5, 2025......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.
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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.


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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.
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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.
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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.
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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.


6

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
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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 

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.
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  %
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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.
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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.


11

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.
12

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 
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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 
14