Shares of Cooper-Standard (CPS) tumbled 11.63% in after-hours trading on Thursday following the release of the company's third-quarter financial results. The automotive parts manufacturer reported mixed results, with improvements in some areas offset by continued losses.

Cooper-Standard announced Q3 sales of $695.5 million and a gross profit of $87.1 million. However, the company posted a net loss of $7.6 million for the quarter, with an adjusted net loss of $4.4 million. These figures appear to have disappointed investors, despite the company highlighting year-over-year margin expansion and improved cash flow in its report.

On a more positive note, Cooper-Standard reported adjusted EBITDA of $53.3 million for the quarter. Nevertheless, the market's sharp negative reaction suggests that investors may have been expecting stronger results or a clearer path to profitability. The significant after-hours decline indicates that shareholders are reassessing the company's near-term prospects in light of these financial results.