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, 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 Six Months Ended
June 30,
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 Six Months Ended
June 30, 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 Six Months Ended
June 30,
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
Temperature
Nissens Engineered All Other
Consolidated
Control Control Automotive Solutions
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
Temperature
Nissens Engineered All Other
Consolidated
Control Control Automotive Solutions
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 Temperature
Nissens Engineered All Other Consolidated
Control Control Automotive Solutions
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 Temperature
Nissens Engineered All Other Consolidated
Control Control Automotive Solutions
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.
