SMP — what changed in the latest 10-Q
A section-by-section comparison of SMP's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-04 vs the prior 10-Q · 2026-04-30
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +50 | −31 | ~19 | 26 |
| Market risk (Item 3) | Text added/removed | +3 | −4 | ~1 | 4 |
| Controls & procedures | Text added/removed | +2 | −1 | ~3 | 5 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Risk factors, Other information
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-04
•higher net sales in our Temperature Control operating segment as certain customers expanded their range of products and the benefits of strong growth in 2025 continuing into 2026, partly offset by the recognition of an obligation for our estimate of IEEPA tariff refunds received from the United Sta…
•lower net sales in our Vehicle Control operating segment as relatively flat net sales performance was negatively impacted by the continued decline in sales of the wire sets products category and by the recording of an obligation for our estimate of IEEPA tariff refunds received from the United Stat…
Gross margins, as a percentage of net sales, increased to 32.8% in the second quarter of 2026 compared to 30.6% in the second quarter of 2025. Overall, the gross margin increase as a percentage of sales in the second quarter of 2026 primarily reflects the positive impact of higher sales volumes, and…
Operating margin as a percentage of net sales for the three months ended June 30, 2026 increased to 10.1% as compared to 8.7% for the same period in 2025. Included in our operating margin were selling, general and administrative expenses of $113.5 million, or 22.6% of net sales for the three months …
Since February 2025, the United States government imposed new tariffs on imports to the United States from certain countries and regions, including Canada, Mexico, China, the European Union and many other countries. Certain foreign governments have implemented retaliatory actions in response to the …
Text removed vs the prior filing · source: 10-Q · 2026-04-30
•higher net sales in our Vehicle Control operating segment as certain customers expanded their range of our products, as well as some benefit from higher prices following the pass through to customers of tariffs implemented later in 2025,
•slight increase in net sales in our Temperature Control operating segment as the benefits of the strong growth in 2025 continue into early 2026.
Gross margins, as a percentage of net sales, increased to 30.8% in the first quarter of 2026 compared to 30.2% in the first quarter of 2025. Overall, the gross margin increase as a percentage of sales in the first quarter of 2026 primarily reflects
the positive impact of higher sales volumes including the impact of cost control measures and $4.6 million of amortization for inventory fair value adjustments related to the application of accounting for business combinations in the first quarter of 2025 that did not recur, which more than offset t…
Operating margin as a percentage of net sales for the three months ended March 31, 2026 increased to 7.6% as compared to 5.9% for the same period in 2025. Included in our operating margin were selling, general and administrative expenses of $104.8 million, or 23.2% of net sales for the three months …
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-08-04
We manage our exposure to interest rate risk through the proportion of fixed rate debt and variable rate debt in our debt portfolio. To reduce our market risk to changes in interest rates on our variable rate borrowings, and to manage a portion of our exposure to changes in interest rates, we occasi…
As of June 30, 2026, we had $573.5 million of outstanding borrowings under our 2024 Credit Agreement, net of deferred financing costs, of which $368.2 million bears interest at variable rates of interest and $207 million bears interest at fixed rates, after consideration of the interest rate swap ag…
In addition, we are party to several supply chain financing arrangements, in which we may sell certain of our customers’ trade accounts receivable to such customers’ financial institutions. We sell our undivided interests in certain of these receivables at our discretion when we determine that the c…
Text removed vs the prior filing · source: 10-Q · 2026-04-30
and liabilities are denominated and does not take into account the incremental effect of such a change on our foreign currency denominated revenues.
We manage our exposure to interest rate risk through the proportion of fixed rate debt and variable rate debt in our debt portfolio. To reduce our market risk to changes in interest rates on our variable rate borrowings, and to manage a portion of our exposure to changes in interest rates, we occasi…
As of March 31, 2026, we had $641.8 million of outstanding borrowings under our 2024 Credit Agreement, net of deferred financing costs, of which $434.6 million bears interest at variable rates of interest and $209 million bears interest at fixed rates, after consideration of the interest rate swap a…
In addition, we are party to several supply chain financing arrangements, in which we may sell certain of our customers’ trade accounts receivable to such customers’ financial institutions. We sell our undivided interests in certain of these receivables at our discretion when we determine that the c…
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-08-04
which was previously disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2025. For additional information, please refer to Part II - Item 9A. of the Company's Annual Report on Form 10-K for the year ended December 31, 2025.
•We have designed, where necessary, mitigating controls and procedures to obtain comfort during the period of time general information technology controls over the affected IT systems were ineffective.
Text removed vs the prior filing · source: 10-Q · 2026-04-30
•Continuing to assess, where necessary, implementing additional controls and substantive procedures to obtain comfort over the completeness and accuracy of data from the affected IT systems
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice