Press Release: Continued Year-over-year Margin Expansion and Improved Cash Flow Highlight Cooper Standard's Third Quarter Results

Dow Jones
10/31

NORTHVILLE, Mich., Oct. 30, 2025 /PRNewswire/ -- Cooper-Standard Holdings Inc. (NYSE: CPS) today reported results for the third quarter 2025.

Third Quarter 2025 Highlights

   -- Sales of $695.5 million, an increase of 1.5% vs. the third quarter of 
      2024 
 
   -- Gross profit of $87.1 million, an increase of 14.2% vs. the third quarter 
      of 2024 
 
   -- Operating income of $26.5 million, an increase of 12.8% vs. the third 
      quarter of 2024 
 
   -- Net loss of $7.6 million, or $(0.43) per diluted share, an improvement of 
      $3.4 million vs. the third quarter of 2024 
 
   -- Adjusted net loss of $4.4 million, or $(0.24) per diluted share, an 
      improvement of $7.6 million vs. the third quarter of 2024 
 
   -- Adjusted EBITDA of $53.3 million, or 7.7% of sales, an increase of $7.1 
      million vs. the third quarter of 2024 

"Our operating performance continues to be outstanding, delivering results for the first nine months of the year that exceeded our original plans," said Jeffrey Edwards, chairman and CEO, Cooper Standard. "We expect our execution will enable us to successfully navigate further temporary customer production disruptions in the fourth quarter and continue to drive higher margins and improved shareholder value going forward."

Consolidated Results

 
                      Three Months Ended September 30,                         Nine Months Ended September 30, 
           -------------------------------------------------------  ----------------------------------------------------- 
                      2025                         2024                        2025                       2024 
           ---------------------------  --------------------------  --------------------------  ------------------------- 
                                       (Dollar amounts in millions except per share amounts) 
Sales                 $          695.5            $          685.4     $               2,068.5           $        2,070.1 
Net loss   $                     (7.6)  $                   (11.1)           $           (7.5)   $                (119.0) 
Adjusted 
 net 
 (loss) 
 income    $                     (4.4)  $                   (12.0)  $                      0.1  $                  (53.9) 
Net loss 
 per 
 diluted 
 share      $                   (0.43)  $                   (0.63)   $                  (0.42)  $                  (6.78) 
Adjusted 
 net 
 (loss) 
 income 
 per 
 diluted 
 share      $                   (0.24)  $                   (0.68)   $                    0.01  $                  (3.07) 
Adjusted 
 EBITDA               $           53.3            $           46.1    $                  174.7            $         126.4 
 

Sales increased by 1.5% in the third quarter due primarily to favorable foreign exchange and favorable volume and mix, partially offset by certain customer price adjustments.

Net loss for the third quarter of 2025 was $7.6 million, including restructuring charges of $3.5 million and other special items. Net loss for the third quarter of 2024 was $11.1 million, including restructuring charges of $1.5 million and other special items. Excluding these special items and their related tax impact, adjusted net loss was $4.4 million in the third quarter of 2025 compared to adjusted net loss of $12.0 million in the third quarter of 2024, or an improvement of $7.6 million year-over-year. The improvement was primarily driven by increased manufacturing and purchasing efficiency and favorable foreign exchange, partially offset by unfavorable volume, mix and price, higher selling, general administration and engineering (SGA&E) expense related to stock price appreciation adjustments for certain equity-based incentive compensation accruals, and ongoing general inflation.

Adjusted EBITDA for the third quarter of 2025 was $53.3 million compared to $46.1 million in the third quarter of 2024. The year-over-year improvement was primarily driven by increased manufacturing and purchasing efficiency and favorable foreign exchange, partially offset by unfavorable volume, mix and price, higher SGA&E expense related to stock price appreciation adjustments for certain equity-based incentive compensation accruals, and ongoing general inflation.

Cash Flow and Liquidity

Cash provided by operating activities in the third quarter of 2025 was $38.6 million, an increase of $10.8 million compared to the third quarter of 2024. Free cash flow (defined as net cash provided by operating activities minus capital expenditures) in the third quarter of 2025 was $27.4 million, an increase of $10.5 million compared to the third quarter of 2024. The increase was driven primarily by improved operating earnings and positive net change in working capital.

As of September 30, 2025, Cooper Standard had cash and cash equivalents totaling $147.6 million. Total liquidity, including availability under the Company's amended senior asset-based revolving credit facility, was $313.5 million at the end of the third quarter of 2025. Based on current expectations for light vehicle production and customer demand for our products, the Company believes it has sufficient financial resources to support ongoing operations and the execution of planned strategic initiatives for the foreseeable future. These financial resources include current cash on hand, continuing access to flexible credit facilities, and expected future positive cash generation.

Adjusted net (loss) income, adjusted EBITDA, adjusted net (loss) income per diluted share, and free cash flow are non-GAAP measures. Reconciliations to the most directly comparable financial measures, calculated and presented in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"), are provided in the attached supplemental schedules.

New Business Awards

The Company continues to leverage its world-class engineering and manufacturing capabilities, its innovation programs and its reputation for quality and service to win new business awards with its OEM customers and capitalize on positive global trends associated with hybrid and battery electric vehicles. During the third quarter of 2025, the Company received net new business awards totaling $96.4 million in anticipated future annualized sales. Through the first nine months of 2025, the Company has received $228.5 million in net new business awards, primarily related to battery-electric and hybrid vehicle platforms.

Segment Results of Operations

 
Sales 
-------------------------------------------------------------------------------- 
 
               Three Months Ended September 30,           Variance Due To: 
            --------------------------------------- 
                                                       Volume/        Foreign 
               2025         2024         Change          Mix*         Exchange 
            -----------  -----------  -------------  ------------  ------------- 
                               (Dollar amounts in thousands) 
Sales to 
external 
customers 
 Sealing 
  systems   $   348,778  $   353,365  $     (4,587)  $   (10,665)  $       6,078 
 Fluid 
  handling 
  systems       328,566      313,739         14,827        13,195          1,632 
 
 
 
* Net of customer price adjustments, including recoveries. 
 
 
Adjusted EBITDA 
------------------------------------------------------------------------------------------------ 
 
               Three Months Ended September 30,                   Variance Due To: 
            --------------------------------------  -------------------------------------------- 
                                                      Volume/        Foreign     Cost Decreases/ 
               2025         2024         Change         Mix*         Exchange     (Increases)** 
            -----------  -----------  ------------  ------------  -------------  --------------- 
                                       (Dollar amounts in thousands) 
Segment 
adjusted 
EBITDA 
 Sealing 
  systems   $    30,853  $    29,904  $        949  $    (8,828)  $       (681)  $        10,458 
 Fluid 
  handling 
  systems        29,029       23,089         5,940         4,154          3,583          (1,797) 
 
 
 
* Net of customer price adjustments, including recoveries. 
** Net of savings from 2024 restructuring initiatives. 
 

Additional detail on our quarterly segment variance analyses is available in our periodic filings with the Securities and Exchange Commission.

Outlook

The Company believes it is well positioned to continue driving sustainable value through profitable growth and margin enhancement. While supply chain disruptions, changing trade and tariff policies, and affordability concerns have impacted near-term production forecasts, the Company believes that the underlying demand for new light vehicle production in its key operating regions remains strong, supported by the age of the existing fleet, increasing population, increasing numbers of newly licensed drivers, and declining vehicle inventories. The Company remains confident that the continuing successful execution of its plans and strategies, including expanding relationships with new customers and the continued launch of new, innovative programs with enhanced contribution margins, will drive increasing profit margins and returns on invested capital over time as markets stabilize.

Following strong actual results in the first nine months of the year, the Company has adjusted its full year guidance to reflect approximately $25 million of expected lost profit related to temporary customer production cuts stemming from supply chain and other market disruptions in the fourth quarter. The revised guidance is as follows:

 
                                       2024 Actuals   Current 2025 Guidance(1) 
------------------------------------  --------------  ------------------------ 
Sales                                  $2.73 billion     $2.68 - $2.72 billion 
------------------------------------  --------------  ------------------------ 
Adjusted EBITDA(2)                    $180.7 million       $200 - $210 million 
------------------------------------  --------------  ------------------------ 
Capital Expenditures                   $50.5 million         $45 - $50 million 
------------------------------------  --------------  ------------------------ 
Cash Restructuring                     $26.5 million         $20 - $25 million 
------------------------------------  --------------  ------------------------ 
Net Cash Interest                      $97.3 million       $105 - $115 million 
------------------------------------  --------------  ------------------------ 
Net Cash Taxes                         $19.1 million         $20 - $25 million 
------------------------------------  --------------  ------------------------ 
   Key Light Vehicle Productions 
        Assumptions (Units) 
------------------------------------  --------------  ------------------------ 
 North America                          15.5 million              15.0 million 
------------------------------------  --------------  ------------------------ 
 Europe                                 17.1 million              16.9 million 
------------------------------------  --------------  ------------------------ 
 Greater China                          30.1 million              32.0 million 
------------------------------------  --------------  ------------------------ 
 South America                           3.0 million               3.2 million 
------------------------------------  --------------  ------------------------ 
 
 
 
(1) Guidance is representative of management's estimates and expectations as 
of the date it is published. Previous guidance was presented in our second 
quarter 2025 earnings press release published on July 31, 2025. Current 
guidance as presented in this press release considers October 2025 S&P Global 
production forecasts for relevant light vehicle platforms and models, 
customers' planned production schedules, including estimated impact of 
temporary production disruptions in the fourth quarter, and other internal 
assumptions. 
(2) Adjusted EBITDA is a non-GAAP financial measure. The Company has not 
provided a reconciliation of projected adjusted EBITDA to projected net income 
(loss) because full-year net income (loss) will include special items that 
have not yet occurred and are difficult to predict with reasonable certainty 
prior to year-end. Due to this uncertainty, the Company cannot reconcile 
projected adjusted EBITDA to U.S. GAAP net income (loss) without unreasonable 
effort. 
 

Conference Call Details

Cooper Standard management will host a conference call and webcast on October 31, 2025 at 9 a.m. ET to discuss its third quarter 2025 results, provide a general business update and respond to investor questions. Investors and other interested parties may listen to the call by accessing the online, real-time webcast at https://ir.cooperstandard.com/events.

To participate by phone, callers in the United States and Canada can dial toll-free at 800-836-8184 (international callers dial 646-357-8785) and ask to be connected to the Cooper Standard conference call. Representatives of the investment community will have the opportunity to ask questions during Q&A. Participants should dial-in at least five minutes prior to the start of the call.

A replay of the webcast will be available on the investors' portion of the Cooper Standard website shortly after the live event.

About Cooper Standard

Cooper Standard, headquartered in Northville, Mich., with locations in 20 countries, is a leading global supplier of sealing and fluid handling systems and components. Utilizing our materials science and manufacturing expertise, we create innovative and sustainable engineered solutions for diverse transportation and industrial markets. Cooper Standard's approximately 22,000 team members (including contingent workers) are at the heart of our success, continuously improving our business and surrounding communities. Learn more at www.cooperstandard.com or follow us on LinkedIn, X, Facebook, Instagram or YouTube.

Forward Looking Statements

This press release includes "forward-looking statements" within the meaning of U.S. federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Our use of words "estimate," "expect," "anticipate," "project," "plan," "intend," "believe," "outlook," "guidance," "forecast," or future or conditional verbs, such as "will," "should," "could," "would," or "may," and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon our current expectations and various assumptions. Our expectations, beliefs, and projections are expressed in good faith and we believe there is a reasonable basis for them. However, we cannot assure you that these expectations, beliefs and projections will be achieved. Forward-looking statements are not guarantees of future performance and are subject to significant risks and uncertainties that may cause actual results or achievements to be materially different from the future results or achievements expressed or implied by the forward-looking statements. Among other items, such factors may include: volatility or decline of the Company's stock price, or absence of stock price appreciation; impacts and disruptions related to the wars in Ukraine and the Middle East; the effects of the current U.S. government shutdown and its impact on our customers; our ability to achieve commercial recoveries and to offset the adverse impact of higher commodity and other costs through pricing and other negotiations with our customers; work stoppages or other labor disruptions with our employees or our customers' employees; prolonged or material contractions in automotive sales and production volumes; our inability to realize sales represented by awarded business; escalating pricing pressures; loss of large customers or significant platforms; our ability to successfully compete in the automotive parts industry; availability and increasing volatility in costs of manufactured components and raw materials; disruptions in our supply base or our customers' supply base; competitive threats and commercial risks associated with our diversification strategy; possible variability of our working capital requirements; risks associated with our international operations, including changes in laws, regulations, and policies governing the terms of foreign trade such as increased trade restrictions and tariffs; foreign currency exchange rate fluctuations; our ability to control the operations of our joint ventures for our sole benefit; our substantial amount of indebtedness and rates of interest; our ability to obtain adequate financing sources in the future; operating and financial restrictions imposed on us under our debt instruments; the underfunding of our pension plans; significant changes in discount rates and the actual return on pension assets; effectiveness of continuous improvement programs and other cost savings plans; significant costs related to manufacturing facility closings or consolidation; our ability to execute new program launches; our ability to meet customers' needs for new and improved products; the possibility that our acquisitions and divestitures may not be successful; product liability, warranty and recall claims brought against us; laws and regulations, including environmental, health and safety laws and regulations; legal and regulatory proceedings, claims or investigations against us; the potential impact of any future public health events on our financial condition and results of operations; the ability of our intellectual property to withstand legal challenges; cyber-attacks, data privacy concerns, other disruptions in, or the inability to implement upgrades to, our information technology systems; the possible volatility of our annual effective tax rate; the possibility of a failure to maintain effective controls and procedures; the possibility of future impairment charges to our goodwill and long-lived assets; our ability to identify, attract, develop and retain a skilled, engaged and diverse workforce; our ability to procure insurance at reasonable rates; and our dependence on our subsidiaries for cash to satisfy our obligations.; and other risks and uncertainties, including those detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

You should not place undue reliance on these forward-looking statements. Our forward-looking statements speak only as of the date of this press release and we undertake no obligation to publicly update or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except where we are expressly required to do so by law.

This press release also contains estimates and other information that is based on industry publications, surveys and forecasts. This information involves a number of assumptions and limitations, and we have not independently verified the accuracy or completeness of the information.

 
Contact for Analysts:                Contact for Media: 
Roger Hendriksen                     Chris Andrews 
Cooper Standard                      Cooper Standard 
(248) 596-6465                       (248) 596-6217 
roger.hendriksen@cooperstandard.com  candrews@cooperstandard.com 
 

Financial statements and related notes follow:

 
                                              COOPER-STANDARD HOLDINGS INC. 
                                     CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 
                                                       (Unaudited) 
                            (Dollar amounts in thousands except per share and share amounts) 
 
                            Three Months Ended September 30,                    Nine Months Ended September 30, 
                   --------------------------------------------------  -------------------------------------------------- 
                             2025                      2024                      2025                      2024 
                   ------------------------  ------------------------  ------------------------  ------------------------ 
Sales                 $             695,502     $             685,353       $         2,068,544       $         2,070,140 
Cost of products 
 sold                               608,361                   609,041                 1,811,174                 1,849,245 
                   ------------------------  ------------------------  ------------------------  ------------------------ 
 Gross profit                        87,141                    76,312                   257,370                   220,895 
Selling, 
 administration & 
 engineering 
 expenses                            55,396                    49,698                   157,797                   157,472 
Amortization of 
 intangibles                          1,746                     1,628                     5,068                     4,894 
Restructuring 
 charges                              3,535                     1,516                     8,498                    20,430 
 Operating income                    26,464                    23,470                    86,007                    38,099 
Interest expense, 
 net of interest 
 income                            (28,614)                  (29,125)                  (85,945)                  (87,041) 
Equity in 
 earnings of 
 affiliates                           1,250                     1,258                     4,734                     4,830 
Pension 
 settlement 
 credit (charge)                         --                     2,216                        --                  (44,571) 
Other (expense) 
 income, net                        (2,857)                   (5,851)                     2,360                  (14,629) 
                   ------------------------  ------------------------  ------------------------  ------------------------ 
 (Loss) income 
  before income 
  taxes                             (3,757)                   (8,032)                     7,156                 (103,312) 
Income tax 
 expense                              3,864                     2,861                    14,648                    15,072 
                   ------------------------  ------------------------  ------------------------  ------------------------ 
 Net loss                           (7,621)                  (10,893)                   (7,492)                 (118,384) 
Net income 
 attributable to 
 noncontrolling 
 interests                             (23)                     (164)                       (1)                     (576) 
                   ------------------------  ------------------------  ------------------------  ------------------------ 
 Net loss 
  attributable to 
  Cooper-Standard 
  Holdings Inc.     $               (7,644)    $             (11,057)   $               (7,493)     $           (118,960) 
                   ========================  ========================  ========================  ======================== 
 
Weighted average 
shares 
outstanding: 
Basic                            17,925,510                17,612,001                17,840,926                17,546,292 
Diluted                          17,925,510                17,612,001                17,840,926                17,546,292 
 
Net loss per 
share: 
Basic              $                 (0.43)  $                 (0.63)  $                 (0.42)  $                 (6.78) 
                   ========================  ========================  ========================  ======================== 
Diluted            $                 (0.43)  $                 (0.63)  $                 (0.42)  $                 (6.78) 
                   ========================  ========================  ========================  ======================== 
 
 
                           COOPER-STANDARD HOLDINGS INC. 
                       CONDENSED CONSOLIDATED BALANCE SHEETS 
                (Dollar amounts in thousands except share amounts) 
 
                           September 30, 2025              December 31, 2024 
                     ------------------------------  ------------------------------ 
                               (unaudited) 
Assets 
------------------- 
Current assets: 
 Cash and cash 
  equivalents         $                     147,622   $                     170,035 
 Accounts 
  receivable, net                           382,345                         310,738 
 Tooling 
  receivable, net                            80,097                          69,204 
 Inventories                                197,669                         142,401 
 Prepaid expenses                            28,097                          25,833 
 Value added tax 
  receivable                                 56,507                          45,120 
 Other current 
  assets                                     52,945                          41,925 
   Total current 
    assets                                  945,282                         805,256 
Property, plant and 
 equipment, net                             522,158                         539,201 
Operating lease 
 right-of-use 
 assets, net                                 82,807                          87,292 
Goodwill                                    140,615                         140,443 
Intangible assets, 
 net                                         30,078                          33,805 
Other assets                                140,682                         127,068 
                     ------------------------------  ------------------------------ 
   Total assets                $          1,861,622            $          1,733,065 
                     ==============================  ============================== 
 
Liabilities and 
Equity 
------------------- 
Current 
liabilities: 
 Debt payable 
  within one year    $                       43,235  $                       42,428 
 Accounts payable                           366,600                         295,178 
 Payroll 
  liabilities                               111,617                         103,701 
 Accrued interest                            32,025                           5,115 
 Accrued 
  liabilities                               110,942                         111,502 
 Current operating 
  lease 
  liabilities                                18,496                          18,859 
   Total current 
    liabilities                             682,915                         576,783 
Long-term debt                            1,059,804                       1,057,839 
Pension benefits                            100,584                          89,253 
Postretirement 
 benefits other 
 than pensions                               26,208                          26,336 
Long-term operating 
 lease liabilities                           67,962                          71,907 
Other liabilities                            34,246                          44,317 
                     ------------------------------  ------------------------------ 
   Total 
    liabilities                           1,971,719                       1,866,435 
Equity: 
 Common stock, 
  $0.001 par value, 
  190,000,000 
  shares 
  authorized; 
  19,702,818 shares 
  issued and 
  17,637,009 shares 
  outstanding as of 
  September 30, 
  2025, and 
  19,392,340 shares 
  issued and 
  17,326,531 shares 
  outstanding as of 
  December 31, 
  2024                                           17                              17 
 Additional paid-in 
  capital                                   521,206                         518,208 
 Retained deficit                         (478,055)                       (470,562) 
 Accumulated other 
  comprehensive 
  loss                                    (145,478)                       (173,432) 
                     ------------------------------  ------------------------------ 
   Total 
    Cooper-Standard 
    Holdings Inc. 
    equity                                (102,310)                       (125,769) 
 Noncontrolling 
  interests                                 (7,787)                         (7,601) 
                     ------------------------------  ------------------------------ 
   Total equity                           (110,097)                       (133,370) 
                     ------------------------------  ------------------------------ 
   Total 
    liabilities and 
    equity                     $          1,861,622            $          1,733,065 
                     ==============================  ============================== 
 
 
                           COOPER-STANDARD HOLDINGS INC. 
                  CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 
                                    (Unaudited) 
                           (Dollar amounts in thousands) 
 
                                      Nine Months Ended September 30, 
                        ----------------------------------------------------------- 
                                     2025                          2024 
                        ------------------------------  --------------------------- 
Operating activities: 
   Net loss             $                      (7,492)  $                 (118,384) 
   Adjustments to reconcile net loss to net cash 
   provided by operating activities: 
      Depreciation                              68,164                       73,358 
      Amortization of 
       intangibles                               5,068                        4,894 
      Pension 
       settlement 
       charge                                       --                       44,571 
      Share-based 
       compensation 
       expense                                  11,631                        7,057 
      Equity in 
       earnings of 
       affiliates, net 
       of dividends 
       related to 
       earnings                                (1,380)                      (1,199) 
      Payment-in-kind 
       interest                                     --                       12,367 
      Deferred income 
       taxes                                     3,455                        1,889 
      Other                                      3,704                        4,036 
   Changes in 
    operating assets 
    and liabilities                           (74,953)                     (26,942) 
                        ------------------------------  --------------------------- 
      Net cash 
       provided by 
       operating 
       activities                                8,197                        1,647 
Investing activities: 
   Capital 
    expenditures                              (36,506)                     (39,014) 
   Proceeds from sale 
   of businesses                                 2,558                           -- 
   Other                                            --                          287 
                        ------------------------------  --------------------------- 
      Net cash used in 
       investing 
       activities                             (33,948)                     (38,727) 
Financing activities: 
   Principal payments 
    on long-term debt                          (2,080)                      (1,901) 
   Increase (decrease) 
    in short-term 
    debt, net                                       22                      (2,356) 
   Debt issuance costs 
    and other fees                                  --                      (1,921) 
   Taxes withheld and 
    paid on employees' 
    share-based 
    payment awards                             (1,728)                        (612) 
      Net cash used in 
       financing 
       activities                              (3,786)                      (6,790) 
Effects of exchange 
 rate changes on cash, 
 cash equivalents and 
 restricted cash                                 6,241                      (2,569) 
                        ------------------------------  --------------------------- 
Changes in cash, cash 
 equivalents and 
 restricted cash                              (23,296)                     (46,439) 
Cash, cash equivalents 
 and restricted cash 
 at beginning of 
 period                                        178,697                      163,061 
                        ------------------------------  --------------------------- 
Cash, cash equivalents 
 and restricted cash 
 at end of period          $                   155,401  $                   116,622 
                        ==============================  =========================== 
 
Reconciliation of cash, cash equivalents and restricted cash to the condensed 
consolidated balance sheets: 
                                               Balance as of 
                        ----------------------------------------------------------- 
                              September 30, 2025             December 31, 2024 
                        ------------------------------  --------------------------- 
Cash and cash 
 equivalents               $                   147,622  $                   170,035 
Restricted cash 
 included in other 
 current assets                                  5,858                        7,590 
Restricted cash 
 included in other 
 assets                                          1,921                        1,072 
                        ------------------------------  --------------------------- 
Total cash, cash 
 equivalents and 
 restricted cash           $                   155,401  $                   178,697 
                        ==============================  =========================== 
 

Non-GAAP Financial Measures

EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted earnings (loss) per share and free cash flow are measures not recognized under U.S. GAAP and which exclude certain non-cash and special items that may obscure trends and operating performance not indicative of the Company's core financial activities. Net new business is a measure not recognized under U.S. GAAP which is a representation of potential incremental future revenue but which may not fully reflect all external impacts to future revenue. Management considers EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted earnings (loss) per share, free cash flow and net new business to be key indicators of the Company's operating performance and believes that these and similar measures are widely used by investors, securities analysts and other interested parties in evaluating the Company's performance. In addition, similar measures are utilized in the calculation of the financial covenants and ratios contained in the Company's financing arrangements and management uses these measures for developing internal budgets and forecasting purposes. EBITDA is defined as net income (loss) adjusted to reflect income tax expense (benefit), interest expense net of interest income, depreciation and amortization, and adjusted EBITDA is defined as EBITDA further adjusted to reflect certain items that management does not consider to be reflective of the Company's core operating performance. Adjusted net income (loss) is defined as net income (loss) adjusted to reflect certain items that management does not consider to be reflective of the Company's core operating performance. Adjusted EBITDA margin is defined as adjusted EBITDA as a percentage of sales. Adjusted basic and diluted earnings (loss) per share is defined as adjusted net income (loss) divided by the weighted average number of basic and diluted shares, respectively, outstanding during the period. Free cash flow is defined as net cash provided by operating activities minus capital expenditures and is useful to both management and investors in evaluating the Company's ability to service and repay its debt. Net new business reflects anticipated sales from formally awarded programs, less lost business, discontinued programs and replacement programs and is based on S&P Global (IHS Markit) forecast production volumes. The calculation of "net new business" does not reflect customer price reductions on existing programs and may be impacted by various assumptions embedded in the respective calculation, including actual vehicle production levels on new programs, foreign exchange rates and the timing of major program launches.

When analyzing the Company's operating performance, investors should use EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted earnings (loss) per share, free cash flow and net new business as supplements to, and not as alternatives for, net income (loss), operating income, or any other performance measure derived in accordance with U.S. GAAP, and not as an alternative to cash flow from operating activities as a measure of the Company's liquidity. EBITDA, adjusted EBITDA, adjusted net income (loss), adjusted earnings (loss) per share, free cash flow and net new business have limitations as analytical tools and should not be considered in isolation or as substitutes for analysis of the Company's results of operations as reported under U.S. GAAP. Other companies may report EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted earnings (loss) per share, free cash flow and net new business differently and therefore the Company's results may not be comparable to other similarly titled measures of other companies. In addition, in evaluating adjusted EBITDA and adjusted net income (loss), it should be noted that in the future the Company may incur expenses similar to or in excess of the adjustments in the below presentation. This presentation of adjusted EBITDA and adjusted net income (loss) should not be construed as an inference that the Company's future results will be unaffected by special items. Reconciliations of EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss) and free cash flow follow.

 
Reconciliation of Non-GAAP Financial Measures 
 
                                        EBITDA and Adjusted EBITDA 
                                               (Unaudited) 
                                      (Dollar amounts in thousands) 
 
The following table provides a reconciliation of EBITDA and adjusted EBITDA from net loss: 
 
                       Three Months Ended September 30,              Nine Months Ended September 30, 
                  -------------------------------------------  ------------------------------------------- 
                          2025                   2024                  2025                   2024 
                  ---------------------  --------------------  ---------------------  -------------------- 
Net loss 
 attributable to 
 Cooper-Standard 
 Holdings Inc.    $             (7,644)  $           (11,057)  $             (7,493)   $         (118,960) 
Income tax 
 expense                          3,864                 2,861                 14,648                15,072 
Interest 
 expense, net of 
 interest 
 income                          28,614                29,125                 85,945                87,041 
Depreciation and 
 amortization                    24,883                25,916                 73,232                78,252 
                  ---------------------  --------------------  ---------------------  -------------------- 
 EBITDA            $             49,717  $             46,845    $           166,332  $             61,405 
Restructuring 
 charges                          3,535                 1,516                  8,498                20,430 
Gain on sale of 
businesses, net 
(1)                                  --                    --                   (98)                    -- 
Pension 
 settlement 
 (credit) charge 
 (2)                                 --               (2,216)                     --                44,571 
                  ---------------------  --------------------  ---------------------  -------------------- 
 Adjusted EBITDA   $             53,252  $             46,145    $           174,732   $           126,406 
                  =====================  ====================  =====================  ==================== 
 
Sales               $           695,502   $           685,353        $     2,068,544       $     2,070,140 
Net loss margin                 (1.1) %               (1.6) %                (0.4) %               (5.7) % 
Adjusted EBITDA 
 margin                           7.7 %                 6.7 %                  8.4 %                 6.1 % 
 
 
 
(1)  Gain on sale of businesses related to divestiture in 2024. 
(2)  Pension credit and one-time, non-cash settlement charge and 
     administrative fees incurred related to the termination of our U.S. 
     Pension Plan in 2024. 
 
 
                               Adjusted Net (Loss) Income and Adjusted Net (Loss) Income Per Share 
                                                           (Unaudited) 
                                (Dollar amounts in thousands except per share and share amounts) 
 
The following table provides a reconciliation of net loss to adjusted net (loss) income and the respective net (loss) income per 
 share amounts: 
 
                             Three Months Ended September 30,                         Nine Months Ended September 30, 
                  ------------------------------------------------------  ------------------------------------------------------- 
                             2025                        2024                        2025                         2024 
                  --------------------------  --------------------------  ---------------------------  -------------------------- 
Net loss 
 attributable to 
 Cooper-Standard 
 Holdings Inc.     $                 (7,644)    $               (11,057)    $                 (7,493)      $            (118,960) 
Restructuring 
 charges                               3,535                       1,516                        8,498                      20,430 
Gain on sale of 
businesses, net 
(1)                                       --                          --                         (98)                          -- 
Pension 
 settlement 
 (credit) charge 
 (2)                                      --                     (2,216)                           --                      44,571 
Tax impact of 
 adjusting items 
 (3)                                   (274)                       (255)                        (813)                          68 
                  --------------------------  --------------------------  ---------------------------  -------------------------- 
 Adjusted net 
  (loss) income    $                 (4,383)    $               (12,012)  $                        94    $               (53,891) 
                  ==========================  ==========================  ===========================  ========================== 
 
Weighted average 
shares 
outstanding: 
Basic                             17,925,510                  17,612,001                   17,840,926                  17,546,292 
Diluted                           17,925,510                  17,612,001                   17,840,926                  17,546,292 
 
Net loss per 
share: 
Basic             $                   (0.43)  $                   (0.63)   $                   (0.42)  $                   (6.78) 
                  ==========================  ==========================  ===========================  ========================== 
Diluted           $                   (0.43)  $                   (0.63)   $                   (0.42)  $                   (6.78) 
                  ==========================  ==========================  ===========================  ========================== 
 
Adjusted net 
(loss) income 
per share: 
Basic             $                   (0.24)  $                   (0.68)   $                     0.01  $                   (3.07) 
                  ==========================  ==========================  ===========================  ========================== 
Diluted           $                   (0.24)  $                   (0.68)   $                     0.01  $                   (3.07) 
                  ==========================  ==========================  ===========================  ========================== 
 
 
 
(1)  Gain on sale of businesses related to divestiture in 2024. 
(2)  Pension credit and one-time, non-cash settlement charge and 
     administrative fees incurred related to the termination of our U.S. 
     Pension Plan in 2024. 
(3)  Represents the elimination of the income tax impact of the above 
     adjustments by calculating the income tax impact of these adjusting items 
     using the appropriate tax rate for the jurisdiction where the charges 
     were incurred and other discrete tax expense. 
 
 
                                             Free Cash Flow 
                                               (Unaudited) 
                                      (Dollar amounts in thousands) 
 
The following table defines free cash flow: 
 
                    Three Months Ended September 30,              Nine Months Ended September 30, 
               ------------------------------------------  ---------------------------------------------- 
                       2025                  2024                   2025                    2024 
               --------------------  --------------------  ----------------------  ---------------------- 
Net cash 
 provided by 
 operating 
 activities    $             38,628  $             27,859  $                8,197  $                1,647 
Capital 
 expenditures              (11,191)              (10,937)                (36,506)                (39,014) 
               --------------------  --------------------  ----------------------  ---------------------- 
 Free cash 
  flow         $             27,437  $             16,922   $            (28,309)   $            (37,367) 
               ====================  ====================  ======================  ====================== 
 

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SOURCE Cooper Standard

 

(END) Dow Jones Newswires

October 30, 2025 16:30 ET (20:30 GMT)

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