Welcome to our dedicated page for Cooper-Standard Automotive news (Ticker: CPS), a resource for investors and traders seeking the latest updates and insights on Cooper-Standard Automotive stock.
Cooper-Standard Holdings Inc. reports recurring developments tied to its role as a global automotive supplier of sealing systems and fluid handling systems for original equipment manufacturers and related transportation and industrial markets. Company updates commonly cover operating results, margin and cash-flow trends, customer production conditions, and new business awards across internal combustion, hybrid and battery electric vehicle platforms.
News also includes product and materials-science developments, such as fluid connectors and sensor-integrated components, as well as environmental performance recognition and capital-structure actions involving Cooper-Standard Automotive Inc. and related debt securities.
Cooper Standard Holdings reported third-quarter 2020 sales of $683.2 million, a decline from $739.5 million in the previous year. The company achieved a net income of $4.4 million or $0.26 per diluted share, compared to a net loss of $4.9 million in Q3 2019. Adjusted EBITDA increased by 19% year-over-year to $64.1 million. Operations restructuring resulted in net new business awards of $70 million and innovation products contract awards totaling $69 million. The company closed unprofitable operations, and its cash balance stands at $462.7 million.