Sheet Molding Compounds (SMC) are widely used in many industries. Due to their high in-mold flow, fibers tend to align during the component processing and generate anisotropic mechanical properties. Besides, being SMCs thermoset composites, their application in high temperature environments often results to be of interest. In this research, the fiber orientation and temperature-dependent mechanical behavior and failure mechanisms were studied. First, materials were compression molded into plates, promoting fiber orientation. Then, the materials’ orientation-dependent viscoelastic behavior was analyzed by Dynamic Mechanical Analysis, and their anisotropy level was assessed at quasi-static tensile, bending and compression modes at 23 °C and 130 °C. Finally, the failure mechanisms were inspected by confocal microscopy to evaluate the influence of temperature and fiber orientation on them. The results demonstrate how the temperature influences the material’s mechanical performance and their anisotropic behavior, especially at 45°. Likewise, temperature alters failure mechanisms, by triggering the fiber-matrix interface failure.