On this page of StockholderLetter.com we present the latest annual shareholder letter from STANDARD MOTOR PRODUCTS, INC. — ticker symbol SMP. Reading current and past SMP letters to shareholders can bring important insights into the investment thesis.

 •  4/21/2026 Letter Continued (Full PDF)
 •  4/18/2023 SMP Stockholder Letter
 •  4/16/2024 SMP Stockholder Letter
 •  4/15/2025 SMP Stockholder Letter
 •  More "Auto Parts" Category Stockholder Letters
 •  SMP Benford's Law Stock Score = 77

SMP Shareholder/Stockholder Letter Transcript:

ANNUAL REPORT
2025

REGISTRAR AND TRANSFER AGENT
Computershare Trust Company, N.A.
PO Box 43006
Providence, RI 02940-3006
www.computershare.com/investor
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 .
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
Europe
4 Facilities
Canada
1 Facility
U.S.A
5 Facilities
Mexico
6 Facilities
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 .

YEAR ENDED DECEMBER 31,
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
22,483,591
Average Number of Common and Dilutive Shares
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
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
Asia
5 Facilities
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
1
Includes JVs

TO OUR SHAREHOLDERS
CONSOLIDATED NET SALES
$2,000
$1,500
$1,791.2
$1,298.8 $1,371.8 $1,358.3
$1,463.8
$1,000
$500
$0
2021
2022
2023
2024
2025
Full Year (Millions)
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.
ERIC P. SILLS
Chairman of the Board &
Chief Executive Officer
EBITDA (W/O SPECIAL ITEMS)*
$200.9
$210.0
$180.0
$150.0
$161.8
$146.1
$120.0
$126.7
Nissens Automotive Update
$140.1
$90.0
$60.0
$30.0
$0.0
2021
2022
2023
2024
2025
Full Year (Millions)
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.
DILUTED EPS (W/O SPECIAL ITEMS)*
$5.00
$4.45
$4.00
$4.02
$3.59
$2.92
$3.00
$3.17
$2.00
$1.00
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
$0.00
2021
2022
2023
2024
2025
Full Year
*See the Reconciliation of GAAP and Non-GAAP Measures on
the page facing the inside back cover of this Annual Report
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%.
QUARTERLY DIVIDENDS
$0.35
$0.30
$0.25
$0.25
$0.27
$0.29
$0.29
$0.31
2023
2024
2025
$0.20
$0.15
$0.10
$0.05
2021
2022
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 endmarkets. 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.

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
Average Age of Light Vehicles



Grown to 289 million in the US and 258 million
in Europe
Growth creates a larger addressable market
for SMP
Based on the latest available data from 2025 and 2024 sourced from: Autocare Association /
S&P Global Mobility / Eurostat

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 data available from 2025 and 2024 sourced from: Autocare Association /
S&P Global Mobility / Roland Berger / Autoalan Tiedotuskeskus

4/21/2026 Letter Continued (Full PDF)

 

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