STANDARD MOTOR PRODUCTS, INC.

Listed Company

SMPCIK 0000093389NYSEAcceleratedMotor Vehicle Parts & AccessoriesNew YorkFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$41.34M

Total Assets

$2.00B

Equity

$683.70M

Shares Out

22.26M

Op. Cash Flow

$57.44M

Business

STANDARD MOTOR PRODUCTS, INC. is a manufacturer and distributor of premium replacement parts for the automotive aftermarket and a provider of custom-engineered vehicle and equipment solutions for diverse non-aftermarket end markets. It offers replacement parts and systems including engine management, electrical and safety components, air conditioning and thermal management parts, radiators, turbochargers, sensors, switches, power distribution and remanufacturing services, along with technical training and field sales support. The company operates four segments: Vehicle Control, Temperature Control, Nissens Automotive and Engineered Solutions. It sells primarily through retailers, warehouse distributors, wholesalers and directly to original equipment manufacturers, tier suppliers and service part operations across North America, Europe, Mexico, Asia and other international markets.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	1,791	1,464	1,358	1,372	1,299
Cost of sales	1,232	1,041	969	989	922
Gross profit	559	423	389	383	377
Selling, general and administrative expenses	421	335	294	277	248
Restructuring expenses	3	8	3	2	392,000
Other income, net	338,000	75,000	76,000	113,000	7,000
Operating income	137	81	93	104	129
Other non-operating income, net	5	7	2	5	3
Interest expense	31	14	13	11	—
Earnings from continuing operations before income taxes	111	74	82	98	130
Provision for income taxes	31	19	18	25	31
Earnings from continuing operations	80	55	63	73	99
Loss from discontinued operations, net of income tax benefit of $13,245, $9,180 and $10,188	−38	−26	−29	−18	−8
Net earnings	42	28	34	55	91
Net earnings attributable to noncontrolling interest	873,000	976,000	204,000	84,000	68,000
Net earnings attributable to SMP	41	28	34	55	91
Continuing operations	79	54	63	73	99
Discontinued operations	−38	−26	−29	−18	−8
Continuing operations (in dollars per share)	3.59	2.46	2.91	3.37	4.49
Discontinued operations (in dollars per share)	−1.71	−1.2	−1.34	−0.82	−0.39
Net earnings attributable to SMP per common share - Basic (in dollars per share)	1.88	1.26	1.57	2.55	4.1
Continuing operations (in dollars per share)	3.52	2.41	2.85	3.3	4.39
Discontinued operations (in dollars per share)	−1.68	−1.17	−1.31	−0.8	−0.37
Net earnings attributable to SMP per common share - Diluted (in dollars per share)	1.84	1.24	1.54	2.5	4.02
Dividends declared per common share (in dollars per share)	1.24	1.16	1.16	1.08	1
Weighted average number of common shares, basic (in shares)	22	22	22	22	22
Weighted average number of common shares, diluted (in shares)	22	22	22	22	23

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	72	44	—	—	—
Accounts receivable, less allowances for discounts and expected credit losses of $10,043 and $5,472 in 2025 and 2024, respectively	232	211	160	168	181
Inventories	712	625	507	—	—
Unreturned customer inventories	16	16	18	—	—
Prepaid expenses and other current assets	18	26	26	25	18
Total current assets	1,050	922	744	762	711
Property, plant and equipment, net	189	169	122	107	103
Operating lease right-of-use assets	105	110	100	50	40
Goodwill	256	241	135	132	132
Customer relationships intangibles, net	212	210	76	—	—
Other intangibles, net	99	91	16	—	—
Deferred income taxes	25	13	41	34	36
Investments in unconsolidated affiliates	26	25	24	42	44
Other assets	32	33	35	28	25
Total assets	1,995	1,814	1,293	1,255	1,198
Current portion of revolving credit facility	30	11	0	50	125
Current portion of term loan and other debt	22	16	5	5	3
Accounts payable	169	148	107	89	137
Sundry payables and accrued expenses	80	85	63	50	57
Accrued customer returns	50	46	38	37	42
Accrued core liability	13	13	18	23	24
Accrued rebates	84	76	42	37	42
Payroll and commissions	46	41	30	31	45
Total current liabilities	493	436	304	323	476
Long-term debt	567	535	151	185	21,000
Noncurrent operating lease liabilities	93	98	89	41	31
Accrued asbestos liabilities	113	85	72	63	53
Other accrued liabilities	31	30	26	22	25
Total liabilities	1,297	1,184	642	634	585
Commitments and contingencies	—	—	—	—	—
Common Stock - par value $2.00 per share (Authorized 30,000,000 shares; issued 23,936,036 shares)	48	48	48	48	48
Capital in excess of par value	99	100	102	106	105
Retained earnings	589	575	573	564	532
Accumulated other comprehensive income	18	−26	−6	−12	−8
Treasury stock - at cost (1,790,097 shares and 2,077,877 shares in 2025 and 2024, respectively)	−70	−82	−82	−95	−76
Total SMP stockholders equity	684	616	635	610	602
Noncontrolling interest	15	14	16	11	11
Total stockholders equity	698	630	651	621	613
Total liabilities and stockholders equity	1,995	1,814	1,293	1,255	1,198

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	44	31	29	28	27
Amortization of deferred financing cost	1	2	491,000	421,000	228,000
Increase to allowance for expected credit losses	5	732,000	3	−757,000	451,000
Increase to inventory reserves	10	4	3	6	−585,000
Equity income from joint ventures	−4	−4	−2	−3	−3
Employee stock ownership plan allocation	3	3	3	2	3
Stock-based compensation	8	6	7	8	9
Increase in deferred income taxes	−12	−10	−7	−713,000	−2
Increase in tax valuation allowance	2	770,000	674,000	1	466,000
Other non-cash items	2	0	0	—	—
Loss on discontinued operations, net of tax	38	26	29	18	8
(Increase) decrease in accounts receivable	−17	−9	8	7	28
(Increase) decrease in inventories	−82	−37	29	−67	−108
(Increase) decrease in prepaid expenses and other current assets	7	856,000	−70,000	−6	−843,000
Increase in accounts payable	15	8	20	−49	33
Increase (decrease) in sundry payables and accrued expenses	−6	24	−4	−29	13
Net changes in other assets and liabilities	2	908,000	−9	−5	−15
Net cash provided by operating activities	57	77	144	−28	86
Acquisitions of businesses, net of cash acquired	0	−372	—	−2	−125
Step acquisition of affiliate	0	0	−4	−2	−125
Cash acquired in step acquisition	—	0	7	0	0
Capital expenditures	−39	−44	−29	−26	−26
Other investing activities	3	−2	108,000	73,000	45,000
Net cash used in investing activities	−36	−419	−26	−28	−151
Borrowings under term loans	0	211	0	100	0
Repayments of term loans	−16	−93,000	−5	−3	0
Net borrowings (repayments) under revolving credit facilities	42	181	−79	17	115
Net borrowings (repayments) of other debt and lease obligations	2	595,000	−58,000	−3	3
Purchase of treasury stock	0	−10	0	−30	−27
Payments of debt issuance costs	0	−5	0	−2	0
Increase (decrease) in overdraft balances	63,000	166,000	−189,000	−595,000	247,000
Dividends paid	−27	−25	−25	−23	−22
Dividends paid to noncontrolling interest	−785,000	−2	−700,000	0	−540,000
Net cash provided by (used in) financing activities	−269,000	350	−110	56	69
Effect of exchange rate changes on cash	6	4	2	−755,000	−1
Net increase in cash and cash equivalents	28	12	11	−605,000	2
Cash paid during the year for interest	33	14	15	10	2

Filings

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