Standard Motor Products, Inc. Releases Third Quarter 2026 Results and Quarterly Dividend
- Third quarter net sales of $507.8 million with adjusted net sales up 2.8% to $512.9 million
- Third quarter diluted earnings per share of $1.42 with adjusted diluted earnings per share of $1.54, up 13.2% versus prior year
- Net debt leverage improved to 1.8x from 2.5x in our second quarter, surpassing our target to be below 2.0x in FY'26
- Reaffirming full-year guidance of low to mid-single digit sales growth and adjusted EBITDA margin of 11% - 12%
NEW YORK, Oct. 30, 2026 /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, 2026.
Consolidated net sales for the third quarter of 2026 were $507.8 million, compared to consolidated net sales of $498.8 million during the same quarter in 2025. Consolidated adjusted net sales for the third quarter of 2026 were $512.9 million, compared to consolidated adjusted net sales of $498.8 million during the same quarter in 2025. Earnings from continuing operations for the third quarter of 2026 were $32.6 million or $1.42 per diluted share, compared to earnings of $29.8 million or $1.32 per diluted share in the third quarter of 2025. Non-GAAP earnings from continuing operations for the third quarter of 2026 were $35.3 million or $1.54 per diluted share, compared to $30.6 million or $1.36 per diluted share in the third quarter of 2025.
Consolidated net sales for the nine months ended September 30, 2026 were $1,460.6 million, compared to consolidated net sales of $1,406.1 million during the comparable period in 2025. Consolidated adjusted net sales for the nine months ended September 30, 2026 were $1,490.8 million, compared to consolidated adjusted net sales of $1,406.1 million during the comparable period in 2025. Earnings from continuing operations for the nine months ended September 30, 2026 were $82.7 million or $3.62 per diluted share, compared to $69.8 million or $3.11 per diluted share in the comparable period of 2025. Non-GAAP earnings from continuing operations for the nine months ended September 30, 2026 and 2025 were $85.9 million or $3.76 per diluted share and $77.5 million or $3.45 per diluted share, respectively.
Mr. Eric Sills, Standard Motor Products' Chairman and Chief Executive Officer stated, "Overall we are very pleased with our third quarter. Adjusted net sales for the quarter, excluding the impact of the accounting treatment for IEEPA tariff refunds received in the quarter, increased 2.8% with three of our four operating segments showing solid gains, while adjusted EBITDA increased to a record-setting $66.6 million. Year-to-date we have set records for both top and bottom-line performance."
Third Quarter Highlights:
North American Aftermarket Segments
- Vehicle Control adjusted net sales increased 6.0% in the third quarter, driven by strong sell-in as customers deepen assortments to capture DIFM sales, solid demand across all categories and aided by an easier year-over-year comparison. Year-to-date adjusted net sales are up 5.1% for the segment. Customer POS for the segment remained positive throughout the quarter, demonstrating ongoing demand for our non-discretionary offering.
- Temperature Control adjusted net sales decreased 4.1% in the quarter, against a record setting comparison last year, and are up 4.2% year-to-date. The first half of the year saw very strong preseason orders as our customers prepared for the selling season, with sell-in well ahead through the second quarter. Customer POS was solid in the quarter with strong sell-through of previously purchased inventory.
Nissens
Nissens adjusted net sales increased 7.6% to $91.0 million, driven by a combination of high single digit sales growth in local currency benefiting from the record temperatures in certain end-markets, offset by a modest headwind in currency conversion. Year-to-date adjusted net sales are up 7.9% for the segment, outperforming in a challenging market and demonstrating the strength of our program.
Engineered Solutions
Adjusted net sales in the Engineered Solutions segment showed solid growth of 4.9% over last year's third quarter and are up 11.4% year-to-date. As comparisons remain more difficult in the next few quarters, we would expect more normalized levels of sales growth going forward.
Profitability & Balance Sheet
Adjusted EBITDA for the quarter increased to $66.6 million, up from $61.7 million last year, driven primarily by solid performance across our Vehicle Control and Nissens segments, partially offset by Temperature Control due to lower sales in the quarter.
From a balance sheet perspective, our cash flows and borrowings were in line with expectations. Total net debt at quarter-end stood at $381.9 million, down from $510.2 million at the end of the second quarter, reflecting debt paydown as we are into our seasonally stronger cash-generating quarters. Importantly, we reduced our inventory to $646.1 million from $727.9 million at December 31, 2025. Our net debt leverage decreased to 1.8x from 2.5x in the second quarter of 2026, surpassing our target for reducing net debt levels to 2.0x adjusted EBITDA by the end of 2026.
2026 Guidance Update
Our outlook for the full year of 2026 reaffirms our expectation that sales growth will be in the low to mid-single digit range driven by ongoing tailwinds for professional grade non-discretionary products in the North American aftermarket, continuing momentum in our European business, and steady performance in Engineered Solutions, offset by a lapping of both tariff pricing and the benefits of stronger currency conversion.
Further, we reaffirm our expectation that adjusted EBITDA will be in a range of 11% -12%. Note that our guidance excludes the impact of ongoing changes in the tariff landscape, any significant inflationary impact from geopolitical conditions, or increase in interest rates impacting our customers' supply chain financing programs. We intend to address these pressures with our usual combination of cost savings and pricing programs.
Dividends
The Board of Directors has approved payment of a quarterly dividend of 33 cents per share on the common stock outstanding, which will be paid on December 1, 2026 to stockholders of record on November 16, 2026.
Closing Remarks
In closing, Mr. Sills commented, "As we move into the final quarter of the year, we are optimistic that we can continue to navigate the challenging environment and maintain the positive momentum we have experienced over the past several quarters. Our quality products and brands across a wide assortment of non-discretionary categories have us well-positioned to support our customers and the repair professional. The resiliency of the aftermarket in both North America and Europe has us excited about our future path for growth and improved profitability. 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 30, 2026. This call will be webcast and can be accessed on our website at www.smpcorp.com and clicking on the SMP Q3'26 Earnings Call Webcast link. Investors may also listen to the call by dialing 800-347-6865 (domestic) or 203-518-9757 (international). The conference call ID code is SMP3Q2026. 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 800-757-4761 (domestic) or 402-220-7215 (international).
Forward-Looking Statements
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.
Use and Definition of Non-GAAP Measures
We report our financial results in accordance with accounting principles generally accepted in the United States ("GAAP"). We supplement the reporting of our financial information determined under GAAP with certain non-GAAP financial information. The non-GAAP information presented provides investors with additional useful information but should not be considered in isolation or as substitutes for the related GAAP measures. We believe that these non-GAAP measures provide investors with additional insight into the Company's ongoing business performance and balance sheet health. Other companies may define non-GAAP measures differently, which limits the usefulness of these measures for comparisons with such other companies. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure.
When we provide our expectations for adjusted EBITDA, adjusted EBITDA margin and net debt leverage, a reconciliation of this non-GAAP financial measure to the corresponding GAAP measures is not available without unreasonable effort due to potentially high variability and low visibility as to the items that would be excluded from the GAAP measure in the relevant future period. A reconciliation of the non-GAAP measures to the corresponding amounts prepared in accordance with GAAP appears in the tables in this Appendix. Below are our non-GAAP financial measures:
Non-GAAP Measure | Definition |
Adjusted consolidated net sales and | Represents net sales (a GAAP measure), excluding adjustment for |
Non-GAAP diluted earnings per | Represents earnings from continuing operations attributable to |
Net debt and net debt leverage | Represents the current portion of revolving credit facility, current |
EBITDA, adjusted EBITDA, | Represents net earnings (loss) (a GAAP measure), excluding |
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) | 2026 | 2025 | 2026 | 2025 | ||
Net sales | $ 507,791 | $ 498,836 | $ 1,460,556 | $ 1,406,068 | ||
Cost of sales | 342,206 | 337,042 | 991,179 | 968,663 | ||
Gross profit | 165,585 | 161,794 | 469,377 | 437,405 | ||
Selling, general and administrative expenses | 115,371 | 113,388 | 333,731 | 320,753 | ||
Restructuring expenses | 62 | 782 | 676 | 2,037 | ||
Other income (expense), net | (3) | 12 | 116 | 319 | ||
Operating income | 50,149 | 47,636 | 135,086 | 114,934 | ||
Other non-operating income, net | 958 | 1,734 | 472 | 5,857 | ||
Interest expense | 6,267 | 7,394 | 21,345 | 23,450 | ||
Earnings from continuing operations before income taxes | 44,840 | 41,976 | 114,213 | 97,341 | ||
Provision for income taxes | 11,996 | 11,977 | 30,862 | 26,867 | ||
Earnings from continuing operations | 32,844 | 29,999 | 83,351 | 70,474 | ||
Loss from discontinued operations, net of income taxes | (18,472) | (34,172) | (21,050) | (36,369) | ||
Net earnings (loss) | 14,372 | (4,173) | 62,301 | 34,105 | ||
Net earnings attributable to noncontrolling interest | 224 | 162 | 649 | 632 | ||
Net earnings attributable to SMP | $ 14,148 | $ (4,335) | $ 61,652 | $ 33,473 | ||
Net earnings (loss) attributable to SMP | ||||||
Continuing operations | $ 32,620 | $ 29,837 | $ 82,702 | $ 69,842 | ||
Discontinued operations | (18,472) | (34,172) | (21,050) | (36,369) | ||
Net earnings (loss) attributable to SMP | $ 14,148 | $ (4,335) | $ 61,652 | $ 33,473 | ||
Per common share data | ||||||
Basic: | ||||||
Continuing operations | $ 1.46 | $ 1.36 | $ 3.71 | $ 3.18 | ||
Discontinued operations | (0.83) | (1.56) | (0.94) | (1.66) | ||
Net earnings (loss) attributable to SMP per common share | $ 0.63 | $ (0.20) | $ 2.77 | $ 1.52 | ||
Diluted: | ||||||
Continuing operations | $ 1.42 | $ 1.32 | $ 3.62 | $ 3.11 | ||
Discontinued operations | (0.80) | (1.51) | (0.92) | (1.62) | ||
Net earnings (loss) attributable to SMP per common share | $ 0.62 | $ (0.19) | $ 2.70 | $ 1.49 | ||
Dividend declared per common share | $ 0.33 | $ 0.31 | $ 0.66 | $ 0.93 | ||
Weighted average number of common shares, basic | 22,340,489 | 21,991,194 | 22,267,056 | 21,954,548 | ||
Weighted average number of common shares, diluted | 22,966,373 | 22,571,304 | 22,868,015 | 22,439,083 | ||
Standard Motor Products, Inc. | |||||
Consolidated Balance Sheets | |||||
(In thousands, except share and per share data) | September 30, | September 30, | December 31, | ||
ASSETS | (Unaudited) | (Unaudited) | |||
CURRENT ASSETS: | |||||
Cash | $ 105,037 | $ 87,201 | $ 72,031 | ||
Accounts receivable, less allowances for discounts and expected credit losses of | 307,149 | 296,229 | 232,020 | ||
Inventories | 646,139 | 676,829 | 727,922 | ||
Prepaid expenses and other current assets | 23,924 | 23,467 | 18,477 | ||
Total current assets | 1,082,249 | 1,083,726 | 1,050,450 | ||
Property, plant and equipment, net of accumulated depreciation of $309,409 for 2026 | 187,836 | 187,333 | 188,562 | ||
Operating lease right-of-use assets | 98,254 | 107,789 | 105,178 | ||
Goodwill | 251,877 | 256,152 | 256,159 | ||
Customer relationships intangibles, net | 193,720 | 216,480 | 212,056 | ||
Other intangibles, net | 95,228 | 98,688 | 99,102 | ||
Deferred income taxes | 24,732 | 19,611 | 25,384 | ||
Investments in unconsolidated affiliates | 27,583 | 25,445 | 26,310 | ||
Other assets | 37,034 | 32,315 | 32,040 | ||
Total assets | $ 1,998,513 | $ 2,027,539 | $ 1,995,241 | ||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||
CURRENT LIABILITIES: | |||||
Current portion of revolving credit facility | $ 50,000 | $ 30,000 | $ 30,000 | ||
Current portion of term loan and other debt | 21,130 | 20,839 | 21,988 | ||
Accounts payable | 166,608 | 178,295 | 169,089 | ||
Sundry payables and accrued expenses | 115,232 | 111,189 | 92,054 | ||
Accrued customer returns | 76,953 | 83,036 | 49,554 | ||
Accrued rebates | 124,679 | 83,694 | 84,494 | ||
Payroll and commissions | 44,638 | 47,059 | 46,135 | ||
Total current liabilities | 599,240 | 554,112 | 493,314 | ||
Long-term debt | 415,830 | 538,639 | 566,727 | ||
Noncurrent operating lease liabilities | 87,220 | 96,180 | 93,381 | ||
Accrued asbestos liabilities | 123,345 | 115,042 | 112,625 | ||
Other accrued liabilities | 31,879 | 31,434 | 30,932 | ||
Total liabilities | 1,257,514 | 1,335,407 | 1,296,979 | ||
Commitments and contingencies | |||||
Stockholders' equity: | |||||
Common stock – par value $2.00 per share (Authorized – 30,000,000 shares; issued | 47,872 | 47,872 | 47,872 | ||
Capital in excess of par value | 103,177 | 102,838 | 99,005 | ||
Retained earnings | 629,060 | 588,450 | 589,448 | ||
Accumulated other comprehensive income | 8,796 | 14,555 | 17,857 | ||
Treasury stock – at cost (1,594,225 shares in 2026 and 1,948,363 and 1,790,097 shares | (62,794) | (76,303) | (70,483) | ||
Total SMP stockholders' equity | 726,111 | 677,412 | 683,699 | ||
Noncontrolling interest | 14,888 | 14,720 | 14,563 | ||
Total stockholders' equity | 740,999 | 692,132 | 698,262 | ||
Total liabilities and stockholders' equity | $ 1,998,513 | $ 2,027,539 | $ 1,995,241 | ||
Standard Motor Products, Inc. | |||
Consolidated Statements of Cash Flows | |||
(In thousands, unaudited) | Nine Months Ended | ||
2026 | 2025 | ||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net earnings | $ 62,301 | $ 34,105 | |
Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
Depreciation and amortization | 34,777 | 32,393 | |
Amortization of deferred financing cost | 815 | 931 | |
Increase to allowance for expected credit losses | 53 | 2,865 | |
Increase to inventory reserves | 4,837 | 5,367 | |
Equity income from joint ventures | (2,900) | (3,593) | |
Employee stock ownership plan allocation | 2,465 | 2,025 | |
Stock-based compensation | 8,894 | 5,515 | |
Increase in deferred income taxes | (1,449) | (3,584) | |
Loss on discontinued operations, net of tax | 21,050 | 36,369 | |
Change in assets and liabilities: | |||
Increase in accounts receivable | (78,295) | (78,691) | |
Decrease (increase) in inventories | 74,297 | (22,777) | |
(Increase) decrease in prepaid expenses and other current assets | (3,221) | 3,403 | |
(Decrease) increase in accounts payable | (2,105) | 22,431 | |
Increase in sundry payables and accrued expenses | 88,908 | 46,211 | |
Net change in other assets and liabilities | (3,256) | 2,711 | |
Net cash provided by operating activities | 207,171 | 85,681 | |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Capital expenditures | (23,534) | (29,334) | |
Other investing activities | (3,434) | 3,043 | |
Net cash used in investing activities | (26,968) | (26,291) | |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Repayments of term loans | (11,782) | (11,788) | |
Net (repayments) borrowings under revolving credit facilities | (107,718) | 9,735 | |
Net (repayments) borrowings of other debt and lease obligations | (5,600) | 892 | |
Purchase of treasury stock | (320) | — | |
(Decrease) increase in overdraft balances | (85) | 1,542 | |
Dividends paid | (22,040) | (20,408) | |
Dividends paid to noncontrolling interest | (624) | (335) | |
Net cash used in financing activities | (148,169) | (20,362) | |
Effect of exchange rate changes on cash | 972 | 3,747 | |
Net increase in cash | 33,006 | 42,775 | |
CASH at beginning of period | 72,031 | 44,426 | |
CASH at end of period | $ 105,037 | $ 87,201 | |
Standard Motor Products, Inc. | |||||||||||
Reconciliation of GAAP to Adjusted Net Sales by Segment | |||||||||||
Three Months Ended September 30, | |||||||||||
2026 | 2025 | ||||||||||
(In thousands, unaudited) | GAAP Net | IEEPA | Adjusted | GAAP Net | IEEPA | Adjusted | |||||
Vehicle Control | |||||||||||
Engine Management (Ignition, | $ 125,944 | $ 121,420 | |||||||||
Electrical and Safety | 66,196 | 63,192 | |||||||||
Wire Sets and Other | 13,849 | 13,070 | |||||||||
Total Vehicle Control | 205,989 | 3,492 | 209,481 | 197,682 | — | 197,682 | |||||
Temperature Control | |||||||||||
AC System Components | 106,004 | 114,033 | |||||||||
Other Thermal Components | 31,490 | 30,624 | |||||||||
Total Temperature Control | 137,494 | 1,208 | 138,702 | 144,657 | — | 144,657 | |||||
Nissens Automotive | |||||||||||
Air Conditioning | 45,933 | 36,409 | |||||||||
Engine Cooling | 33,165 | 32,168 | |||||||||
Engine Efficiency | 11,485 | 15,960 | |||||||||
Total Nissens Automotive | 90,583 | 376 | 90,959 | 84,537 | — | 84,537 | |||||
Engineered Solutions | |||||||||||
Light Vehicle | 24,674 | 21,977 | |||||||||
Commercial Vehicle | 21,800 | 21,111 | |||||||||
Construction/Agriculture | 10,200 | 8,863 | |||||||||
All Other | 19,053 | 20,247 | |||||||||
Total Engineered Solutions | 75,727 | 34 | 75,761 | 72,198 | — | 72,198 | |||||
Intersegment sales | (2,002) | — | (2,002) | (238) | — | (238) | |||||
Total | $ 507,791 | $ 5,110 | $ 512,901 | $ 498,836 | $ — | $ 498,836 | |||||
Standard Motor Products, Inc. | |||||||||||
Reconciliation of GAAP to Adjusted Net Sales by Segment | |||||||||||
Nine Months Ended September 30, | |||||||||||
2026 | 2025 | ||||||||||
(In thousands, unaudited) | GAAP Net | IEEPA | Adjusted | GAAP Net | IEEPA | Adjusted | |||||
Vehicle Control | |||||||||||
Engine Management (Ignition, | $ 388,519 | $ 368,019 | |||||||||
Electrical and Safety | 171,635 | 178,339 | |||||||||
Wire Sets and Other | 42,586 | 45,365 | |||||||||
Total Vehicle Control | 602,740 | 19,143 | 621,883 | 591,723 | — | 591,723 | |||||
Temperature Control | |||||||||||
AC System Components | 290,496 | 286,001 | |||||||||
Other Thermal Components | 81,250 | 78,904 | |||||||||
Total Temperature Control | 371,746 | 8,435 | 380,181 | 364,905 | — | 364,905 | |||||
Nissens Automotive | |||||||||||
Air Conditioning | 111,535 | 104,016 | |||||||||
Engine Cooling | 100,887 | 95,023 | |||||||||
Engine Efficiency | 47,203 | 42,217 | |||||||||
Total Nissens Automotive | 259,625 | 615 | 260,240 | 241,256 | — | 241,256 | |||||
Engineered Solutions | |||||||||||
Light Vehicle | 72,269 | 65,161 | |||||||||
Commercial Vehicle | 66,245 | 61,552 | |||||||||
Construction/Agriculture | 30,720 | 27,855 | |||||||||
All Other | 60,847 | 53,854 | |||||||||
Total Engineered Solutions | 230,081 | 2,040 | 232,121 | 208,422 | — | 208,422 | |||||
Intersegment sales | (3,636) | — | (3,636) | (238) | — | (238) | |||||
Total | $ 1,460,556 | $ 30,233 | $ 1,490,789 | $ 1,406,068 | $ — | $ 1,406,068 | |||||
Standard Motor Products, Inc. | ||||||||
Reconciliation of GAAP and Non-GAAP Earnings Measures | ||||||||
Three Months Ended | Nine Months Ended | |||||||
September 30, | September 30, | |||||||
(Unaudited) | 2026 | 2025 | 2026 | 2025 | ||||
Earnings from Continuing Operations Attributable to | ||||||||
GAAP Earnings from Continuing Operations | $ 32,620 | $ 29,837 | $ 82,702 | $ 69,842 | ||||
Restructuring Expenses | 62 | 782 | 676 | 2,037 | ||||
Litigation Matter | 3,615 | — | 3,615 | — | ||||
Acquisition & Integration Expenses | — | 299 | 2 | 8,346 | ||||
Income Tax Effect Related To Reconciling Items | (956) | (281) | (1,116) | (2,700) | ||||
Non-GAAP Earnings from Continuing Operations | $ 35,341 | $ 30,637 | $ 85,879 | $ 77,525 | ||||
Diluted Earnings Per Share from Continuing Operations | ||||||||
GAAP Diluted Earnings Per Share from Continuing Operations | $ 1.42 | $ 1.32 | $ 3.62 | $ 3.11 | ||||
Restructuring Expenses | — | 0.04 | 0.03 | 0.09 | ||||
Litigation Matter | 0.16 | — | 0.16 | — | ||||
Acquisition & Integration Expenses | — | 0.01 | — | 0.37 | ||||
Income Tax Effect Related To Reconciling Items | (0.04) | (0.01) | (0.05) | (0.12) | ||||
Non-GAAP Diluted Earnings Per Share from Continuing | $ 1.54 | $ 1.36 | $ 3.76 | $ 3.45 | ||||
Last Twelve Months Ended | Year Ended | |||||
September 30, | December 31, | |||||
(In thousands, except for net debt leverage ratio) | 2026 | 2025 | 2025 | |||
Net Debt | Unaudited | Audited | ||||
Current portion of revolving credit facility | $ 50,000 | $ 30,000 | $ 30,000 | |||
Current portion of term loan and other debt | 21,130 | 20,839 | 21,988 | |||
Long-term debt | 415,830 | 538,639 | 566,727 | |||
Total debt | 486,960 | 589,478 | 618,715 | |||
Less: Cash | 105,037 | $ 87,201 | 72,031 | |||
Net debt | 381,923 | 502,277 | 546,684 | |||
EBITDA without Special Items | ||||||
GAAP Net Earnings (Loss) | $ 70,406 | $ 32,099 | $ 42,208 | |||
Loss from Discontinued Operations, Net of Income Taxes | (22,379) | (37,770) | (37,698) | |||
Provision for Income Taxes | 34,610 | 27,534 | 30,617 | |||
GAAP Earnings from Continuing Operations Before Taxes | 127,395 | 97,403 | 110,523 | |||
Depreciation and Amortization | 46,232 | 41,798 | 43,848 | |||
Interest Expense | 29,234 | 28,998 | 31,339 | |||
EBITDA | 202,861 | 168,199 | 185,710 | |||
Restructuring Expenses | 1,219 | 3,931 | 2,580 | |||
Litigation Matter | 3,615 | — | — | |||
Acquisition & Integration Expenses | 239 | 20,418 | 8,583 | |||
Customer Program Wind Down | 4,067 | — | 4,067 | |||
Special Items | 9,140 | 24,349 | 15,230 | |||
EBITDA without Special Items | $ 212,001 | $ 192,548 | $ 200,940 | |||
Net debt leverage ratio | 1.8 | 2.6 | 2.7 | |||
Standard Motor Products, Inc. | ||||||||||||
Reconciliation of GAAP and Non-GAAP Earnings Measures by Segments | ||||||||||||
Three Months Ended September 30, 2026 | ||||||||||||
(In thousands, unaudited) | Vehicle | Temperature | Nissens | Engineered | Corporate | Consolidated | ||||||
EBITDA without Special Items | ||||||||||||
GAAP Net Earnings (Loss) | $ 16,572 | $ 14,345 | $ 3,560 | $ 2,481 | $ (22,586) | $ 14,372 | ||||||
Loss from Discontinued Operations, Net of | — | — | — | — | (18,472) | (18,472) | ||||||
Provision for Income Taxes | 6,160 | 4,958 | 1,456 | 1,485 | (2,063) | $ 11,996 | ||||||
GAAP Earnings (Loss) from Continuing | 22,732 | 19,303 | 5,016 | 3,966 | (6,177) | 44,840 | ||||||
Depreciation and Amortization | 4,648 | 891 | 3,300 | 2,673 | 350 | 11,862 | ||||||
Interest Expense | 987 | 475 | 4,655 | 598 | (448) | 6,267 | ||||||
EBITDA | 28,367 | 20,669 | 12,971 | 7,237 | (6,275) | 62,969 | ||||||
Restructuring Expenses | 41 | 2 | — | 19 | — | 62 | ||||||
Litigation Matter | — | — | 3,615 | — | — | 3,615 | ||||||
Special Items | 41 | 2 | 3,615 | 19 | — | 3,677 | ||||||
EBITDA without Special Items | $ 28,408 | $ 20,671 | $ 16,586 | $ 7,256 | $ (6,275) | $ 66,646 | ||||||
% of GAAP Net Sales | 13.8 % | 15.0 % | 18.3 % | 9.6 % | 13.1 % | |||||||
% of Non-GAAP Net Sales | 13.6 % | 14.9 % | 18.2 % | 9.6 % | 13.0 % | |||||||
Three Months Ended September 30, 2025 | ||||||||||||
(In thousands, unaudited) | Vehicle | Temperature | Nissens | Engineered | Corporate | Consolidated | ||||||
EBITDA without Special Items | ||||||||||||
GAAP Net Earnings (Loss) | $ 10,733 | $ 20,036 | $ 4,420 | $ 2,869 | $ (42,232) | $ (4,174) | ||||||
Loss from Discontinued Operations, Net of | — | — | — | — | (34,172) | (34,172) | ||||||
Provision for Income Taxes | 3,520 | 7,087 | 1,120 | 1,370 | (1,119) | 11,978 | ||||||
GAAP Earnings (Loss) from Continuing | 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 GAAP Net Sales | 10.3 % | 19.7 % | 16.8 % | 10.2 % | 12.4 % | |||||||
% of Non-GAAP Net Sales | 10.3 % | 19.7 % | 16.8 % | 10.2 % | 12.4 % | |||||||
Standard Motor Products, Inc. | ||||||||||||
Reconciliation of GAAP and Non-GAAP Earnings Measures by Segments | ||||||||||||
Nine Months Ended September 30, 2026 | ||||||||||||
(In thousands, unaudited) | Vehicle | Temperature | Nissens | Engineered | Corporate | Consolidated | ||||||
EBITDA without Special Items | ||||||||||||
GAAP Net Earnings (Loss) | $ 37,346 | $ 41,256 | $ 11,660 | $ 7,303 | $ (35,263) | $ 62,302 | ||||||
Loss from Discontinued Operations, Net of | — | — | — | — | (21,050) | (21,050) | ||||||
Provision for Income Taxes | 13,751 | 14,448 | 4,758 | 3,390 | (5,487) | $ 30,860 | ||||||
GAAP Earnings (Loss) from Continuing | 51,097 | 55,704 | 16,418 | 10,693 | (19,700) | 114,212 | ||||||
Depreciation and Amortization | 13,395 | 2,586 | 9,877 | 7,867 | 1,052 | 34,777 | ||||||
Interest Expense | 4,699 | 1,960 | 14,031 | 1,714 | (1,059) | 21,345 | ||||||
EBITDA | 69,191 | 60,250 | 40,326 | 20,274 | (19,707) | 170,334 | ||||||
Restructuring Expenses | 551 | 74 | — | 51 | — | 676 | ||||||
Litigation Matter | — | — | 3,615 | — | — | 3,615 | ||||||
Acquisition & Integration Expenses | — | — | 2 | — | — | 2 | ||||||
Special Items | 551 | 74 | 3,617 | 51 | — | 4,293 | ||||||
EBITDA without Special Items | $ 69,742 | $ 60,324 | $ 43,943 | $ 20,325 | $ (19,707) | $ 174,627 | ||||||
% of GAAP Net Sales | 11.6 % | 16.2 % | 16.9 % | 8.8 % | 12.0 % | |||||||
% of Non-GAAP Net Sales | 11.2 % | 15.9 % | 16.9 % | 8.8 % | 11.7 % | |||||||
Nine Months Ended September 30, 2025 | ||||||||||||
(In thousands, unaudited) | Vehicle | Temperature | Nissens | Engineered | Corporate | Consolidated | ||||||
EBITDA without Special Items | ||||||||||||
GAAP Net Earnings (Loss) | $ 35,318 | $ 40,312 | $ 5,954 | $ 8,150 | $ (55,629) | $ 34,105 | ||||||
Loss from Discontinued Operations, Net of | — | — | — | — | (36,369) | (36,369) | ||||||
Provision for Income Taxes | 11,430 | 14,361 | 2,088 | 3,508 | (4,520) | 26,867 | ||||||
GAAP Earnings (Loss) from Continuing | 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 GAAP Net Sales | 10.9 % | 16.2 % | 17.4 % | 10.0 % | 11.6 % | |||||||
% of Non-GAAP Net Sales | 10.9 % | 16.2 % | 17.4 % | 10.0 % | 11.6 % | |||||||
SOURCE Standard Motor Products, Inc.
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