Standard Motor Products, Inc ARS, filed Apr 21, 2026
Standard Motor Products, Inc. (SMP)
ARS
2026-04-21
For: 2025-12-31
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October 17, 2026
ANNUAL REPORT 2025
® ® A S U B S I D I A R Y O F S TA N D A R D M O T O R P R O D U C T S , I N C . A S U B S I D I A R Y O F S TA N D A R D M O T O R P R O D U C T S , I N C . Canada 1 Facility U.S.A 5 Facilities Mexico 6 Facilities Europe 4 Facilities REGISTRAR AND TRANSFER AGENT Computershare Trust Company, N.A. PO Box 43006 Providence, RI 02940-3006 www.computershare.com/investor INDEPENDENT AUDITORS KPMG LLP Two Manhattan West 375 9th Avenue, 17th Floor New York, NY 10001 COMMON STOCK Standard Motor Products, Inc.’s Common Stock is listed on the New York Stock Exchange under the symbol “SMP” MANUFACTURING LOCATIONS
Asia 5 Facilities YEAR ENDED DECEMBER 31, ABOUT SMP Standard Motor Products is a leading global manufacturer and distributor of premium replacement parts in the automotive aftermarket and a custom-engineered solutions provider to vehicle and equipment manufacturers in diverse non-aftermarket end markets. Headquarters: Long Island City, NY Year Founded: 1919 Number of Employees: 6,2001 Our Four Operating Segments Vehicle Control: Provides critical sensors, actuators, ignition components, emission components and more to major automotive aftermarket retailers and wholesale distributors Temperature Control: Full-line supplier of air conditioning and heating components to major automotive aftermarket retailers and wholesale distributors Nissens: Leading European-based aftermarket supplier of premium powertrain cooling, air conditioning and vehicle control components. Engineered Solutions: Offers a wide range of custom-designed products to vehicle and equipment manufacturers across diverse global end markets 1Includes JVs 2025 2024 Net Sales $ 1,791,158 $ 1,463,849 Operating Income 1 $ 151,399 $ 101,693 Earnings From Continuing Operations 1, 2 $ 90,303 $ 70,456 Adjusted EBITDA1, 2 $ 200,940 $ 140,058 PER SHARE: Earnings From Continuing Operations 1, 2 - Diluted $ 4.02 $ 3.17 Dividends $ 1.24 $ 1.16 Stock Price at Year End $ 36.85 $ 30.98 Average Number of Common and Dilutive Shares 22,483,591 22,237,060 Assets $ 1,995,241 $ 1,814,126 Stockholders’ Equity $ 698,262 $ 630,082 (Dollars in thousands, except per share amounts) 1 Non-GAAP. See the Reconciliation of GAAP and Non-GAAP Measures on the page facing the inside back cover of this Annual Report 2 Attributable to SMP
Nissens Automotive Update A major focus this year was integrating Nissens Automotive. Because our strategies and product categories align closely, our objectives are centered on supplier consolidation, product cost savings, complementary catalog expansion, and targeted commercial efficiencies. We set a goal of achieving $8–$12 million in cost reduction synergies within 24 months, and we are well on track to meet that target. As we enter the new year, we are continuing to drive savings while also pursuing opportunities in cross selling, new category coverage, and strengthening relationships with shared global customers. The team’s engagement and momentum remain exceptionally strong. Business Performance 2025 was another solid year of execution. Nissens contributed meaningfully from the start, and healthy aftermarket fundamentals supported broad based growth. Sales increased 22%, and adjusted diluted earnings per share grew nearly 27%. Vehicle Control delivered consistent gains across its non-discretionary categories. Temperature Control continued to outperform, even with a milder summer, as customers managed inventories effectively to meet early season demand. Our Engineered Solutions business is subject to more cyclical volatility than the aftermarket due to the wide range of new vehicle and equipment end- markets. Demand was sluggish to start the year, but fortunately this trend reversed mid-2025 as the segment experienced sequential improvement. And lastly, Nissens performed better than our expectations during our first full year of ownership. Strong sales and profits meaningfully contributed to SMPs overall solid performance, and we look forward to the exciting opportunities ahead for this segment. TO OUR SHAREHOLDERS ERIC P. SILLS Chairman of the Board & Chief Executive Officer 2025 was a record year for SMP, with sales approaching $1.8 billion. Our North American aftermarket businesses performed well, we completed a successful first full year with Nissens, and we experienced a nice rebound in our Engineered Solutions segment, all while navigating a new tariff environment that required close collaboration with customers and channel partners. * See the Reconciliation of GAAP and Non-GAAP Measures on the page facing the inside back cover of this Annual Report Full Year QUARTERLY DIVIDENDS 2021 2022 2023 2024 2025 $0.29 $0.31 $0.27 $0.29 $0.25 $0.35 $0.30 $0.25 $0.20 $0.15 $0.10 $0.05 DILUTED EPS (W/O SPECIAL ITEMS)* $5.00 $4.00 $3.00 $2.00 $1.00 $0.00 $4.45 $3.59 $4.02 $3.17 2021 2022 2023 2024 2025 $2.92 CONSOLIDATED NET SALES Full Year (Millions) 2021 2022 2023 2024 2025 $2,000 $1,500 $1,000 $500 $0 $1,371.8 $1,358.3 $1,463.8 $1,791.2 $1,298.8 $210.0 $180.0 $150.0 $120.0 $90.0 $60.0 $30.0 $0.0 EBITDA (W/O SPECIAL ITEMS)* Full Year (Millions) $146.1 $140.1 $200.9 $161.8 2021 2022 2023 2024 2025 $126.7
Looking Ahead Economic uncertainty and volatility remain on the forefront heading into 2026. A bright spot is the stability of the global aftermarket sector that continues to demonstrate enduring resilience, supported by a large and aging vehicle population, the non-discretionary nature of essential repairs, and the counter-cyclical behavior of vehicle maintenance spending as consumers have a propensity to keep their cars on the road and running. The tariff situation continues to be fluid. Our global footprint has helped us effectively manage the tariff environment, and we will continue collaborating with customers and channel partners to mitigate challenges and adapt as conditions evolve. As we move to 2026, our global transformation continues. Beyond cost synergies, Nissens has introduced several new product categories that, although in early stages, should begin contributing as the year progresses. Longer term, we see exciting opportunities to drive growth, margin expansion, and value creation. Our greatest strength remains our people, their ability to execute, innovate, and deliver on the initiatives that will move SMP forward. I am confident in the foundation we have built, and in the path ahead for our shareholders worldwide. Thank you for your continued trust and support. Sincerely, Eric Sills Chairman of the Board & Chief Executive Officer Favorable Market Conditions Number of Light Vehicles on the Road • Grown to 289 million in the US and 258 million in Europe • Growth creates a larger addressable market for SMP Average Age of Light Vehicles • Increased to 12.8 years in the US and 12.5 years in Europe • Service and repair opportunities will grow as the global fleet continues to age Based on the latest available data from 2025 and 2024 sourced from: Autocare Association / S&P Global Mobility / Eurostat Based on the latest data available from 2025 and 2024 sourced from: Autocare Association / S&P Global Mobility / Roland Berger / Autoalan Tiedotuskeskus
ANNUAL MEETING OF SHAREHOLDERS The Annual Meeting of Shareholders of Standard Motor Products, Inc. will be held online at www.virtualshareholdermeeting.com/SMP2026 on Thursday, May 21, 2026 at 2:00 p.m. (Eastern Daylight Time) A notice of this meeting, together with a proxy statement, is being mailed to all shareholders on or about April 21, 2026.
BOARD OF DIRECTORS ERIC P. SILLS Chairman of the Board and Chief Executive Officer of Standard Motor Products, Inc. ALISA C. NORRIS Former Chief Marketing and Communications Officer of JDRF International JAMES J. BURKE Chief Operating Officer of Standard Motor Products, Inc. ALEJANDRO C. CAPPARELLI Vice President and General Manager, Lifecycle Segment Portfolio of Rockwell Automation, Inc. PAMELA FORBES LIEBERMAN Former Interim Chief Operating Officer of Entertainment Resource, Inc. PATRICK S. McCLYMONT Chief Financial Officer of Hagerty, Inc. JOSEPH W. McDONNELL President of the University of Maine at Farmington PAMELA S. PURYEAR, Ph.D. Former EVP and Global CHRO of Walgreens Boots Alliance, Inc. CORPORATE OFFICERS ERIC P. SILLS Chief Executive Officer JAMES J. BURKE Chief Operating Officer DALE BURKS Chief Commercial Officer NATHAN R. ILES Chief Financial Officer CARMINE J. BROCCOLE Chief Legal Officer and Secretary RAY NICHOLAS Chief Information Officer and Vice President Information Technology VICTORIA T. RINGWOOD Chief Human Resources Officer THOMAS BESSON Chief Transformation Officer ESTHER PARKER Chief Accounting Officer ERIN PAWLISH Treasurer
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