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Industry Segments
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Industry Segments Industry Segments
Our business is organized into four operating segments, Vehicle Control, Temperature Control, Nissens Automotive and Engineered Solutions, each of which focuses on a specific line of business. Our automotive aftermarket business is comprised of three operating segments, Vehicle Control, Temperature Control and Nissens Automotive, while our Engineered Solutions operating segment offers a broad array of conventional and future-oriented technologies. Nissens Automotive is a new operating segment created in the fourth quarter of 2024 comprising of our acquisition in November 2024.
There are no material intersegment sales among our operating segments. Other consists of financial information related to the activities of our corporate headquarters function. The accounting policies of each segment are the same as those described in Note 1, "Summary of Significant Accounting Policies" in our Form 10-K for the year-ended December 31, 2024.
The following tables contain financial information for each reportable operating segment (in thousands):
Three Months Ended September 30, 2025Vehicle ControlTemperature ControlNissens AutomotiveEngineered SolutionsOtherTotal
Net sales$197,682 $144,657 $84,537 $72,198 $(238)$498,836 
Cost of sales135,516 92,711 49,710 59,343 (238)337,042 
Gross profit62,166 51,946 34,827 12,855 — 161,794 
Selling and marketing expenses11,340 3,616 5,038 2,165 — 22,159 
Distribution expenses17,525 9,958 9,234 1,295 524 38,536 
General and administration expenses9,788 4,785 9,245 5,294 8,320 37,432 
Supply chain financing expenses7,643 6,852 455 — — 14,950 
Restructuring expenses735 — 46 — 782 
Other expenses— — 44 — 255 299 
Total operating expenses47,031 25,212 24,016 8,800 9,099 114,158 
Operating income (loss)$15,135 $26,734 $10,811 $4,055 $(9,099)47,636 
Other non-operating income, net1,734 
Interest expense7,394 
Earnings from continuing operations before income taxes$41,976 
Three Months Ended September 30, 2024Vehicle ControlTemperature ControlNissens AutomotiveEngineered SolutionsOtherTotal
Net sales$200,877 $125,985 $— $72,403 $— $399,265 
Cost of sales135,225 83,662 — 59,012 — 277,899 
Gross profit65,652 42,323 — 13,391 — 121,366 
Selling and marketing expenses11,150 4,031 — 1,976 — 17,157 
Distribution expenses14,680 10,454 — 1,362 1,131 27,627 
General and administration expenses9,064 4,606 — 4,787 4,060 22,517 
Supply chain financing expenses8,127 6,784 — — — 14,911 
Restructuring expenses1,602 374 — 256 791 3,023 
Other expenses (income)— — — — (1,008)(1,008)
Total operating expenses44,623 26,249 — 8,381 4,974 84,227 
Operating income (loss)$21,029 $16,074 $— $5,010 $(4,974)37,139 
Other non-operating income, net2,129 
Interest expense3,145 
Earnings from continuing operations before income taxes$36,123 
Nine Months Ended
September 30, 2025
Vehicle ControlTemperature ControlNissens AutomotiveEngineered SolutionsOtherTotal
Net sales$591,723 $364,905 $241,256 $208,422 $(238)$1,406,068 
Cost of sales406,748 242,998 147,986 171,169 (238)968,663 
Gross profit184,975 121,907 93,270 37,253 — 437,405 
Selling and marketing expenses33,615 11,279 14,157 6,361 — 65,412 
Distribution expenses48,970 27,568 27,000 4,081 1,593 109,212 
General and administration expenses29,911 13,870 26,559 15,521 21,246 107,107 
Supply chain financing expenses21,282 14,830 455 — — 36,567 
Restructuring expenses1,740 190 — 105 2,037 
Other expenses— — 1,667 — 469 2,136 
Total operating expenses135,518 67,737 69,838 26,068 23,310 322,471 
Operating income (loss)$49,457 $54,170 $23,432 $11,185 $(23,310)114,934 
Other non-operating income, net5,857 
Interest expense23,450 
Earnings from continuing operations before income taxes$97,341 
Nine Months Ended
September 30, 2024
Vehicle ControlTemperature ControlNissens AutomotiveEngineered SolutionsOtherTotal
Net sales$575,142 $322,074 $— $223,281 $— $1,120,497 
Cost of sales390,622 223,453 — 184,087 — 798,162 
Gross profit184,520 98,621 — 39,194 — 322,335 
Selling and marketing expenses34,274 11,838 — 5,989 — 52,101 
Distribution expenses43,710 27,810 — 4,060 3,464 79,044 
General and administration expenses27,921 12,864 — 15,437 12,700 68,922 
Supply chain financing expenses24,219 14,128 — — — 38,347 
Restructuring expenses2,711 679 — 654 1,730 5,774 
Other expenses— — — — 1,403 1,403 
Total operating expenses132,835 67,319 — 26,140 19,297 245,591 
Operating income (loss)$51,685 $31,302 $— $13,054 $(19,297)76,744 
Other non-operating income, net5,147 
Interest expense7,964 
Earnings from continuing operations before income taxes$73,927 
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Depreciation and amortization
Vehicle Control$4,173 $3,850 $11,913 $10,981 
Temperature Control785 802 2,347 2,480 
Nissens Automotive3,333 — 9,645 — 
Engineered Solutions2,574 2,308 7,501 7,240 
Other336 429 987 1,307 
Total depreciation and amortization$11,201 $7,389 $32,393 $22,008 
Capital expenditures
Vehicle Control$5,895 $8,023 $17,397 $23,627 
Temperature Control827 520 3,098 1,294 
Nissens Automotive52 — 737 — 
Engineered Solutions3,028 2,596 6,828 7,528 
Other237 56 1,274 1,687 
Total capital expenditures$10,039 $11,195 $29,334 $34,136 
September 30, 2025December 31, 2024
Investment in unconsolidated affiliates
Vehicle Control$2,863 $2,447 
Temperature Control19,853 20,396 
Nissens Automotive— — 
Engineered Solutions2,729 1,999 
Other— — 
Total investment in unconsolidated affiliates$25,445 $24,842 
Total assets
Vehicle Control$709,451 $659,607 
Temperature Control320,610 276,216 
Nissens Automotive566,507 482,773 
Engineered Solutions314,282 285,866 
Other116,689 109,664 
Total assets$2,027,539 $1,814,126