Cooper-Standard Holdings Stock Price, News & Analysis

Cooper-Standard Holdings (NYSE: CPS) announced the appointment of Christine M. Moore to its Board of Directors, effective August 1, 2021. Moore brings nearly 30 years of experience in accounting and auditing, currently serving as executive vice president at Comerica Bank. Her expertise in internal audit and risk oversight aims to enhance the Board's effectiveness and value delivery. Her term will last until the 2022 annual meeting of shareholders, adding fresh perspectives to Cooper-Standard's strategic direction.

Cooper Standard Holdings (NYSE: CPS) will participate in the 2021 Deutsche Bank Global Auto Industry Conference on June 16 at 3:45 p.m. ET. CEO Jeffrey Edwards and CFO Jonathan Banas will address the company's strategies and engage in a fireside chat format. A live webcast will be available on Cooper Standard's Investor Relations website. Cooper Standard is recognized as a key supplier in the automotive market, operating globally with approximately 25,000 employees and presence in 21 countries.

Cooper Standard (NYSE:CPS) has released its 2020 Corporate Responsibility Report, titled "Stronger: Teams, Partnerships, Business," highlighting its record safety achievements, customer recognition, and initiatives during COVID-19. The report outlines the company's long-term ESG goals, including improving workforce diversity, enhancing workplace safety, and increasing community involvement. CEO Jeffrey Edwards emphasized the firm's commitment to sustainability and plans for updated ESG goals post a materiality assessment in 2021. Detailed metrics are available in the full report.

NORTHVILLE, MI, May 6, 2021 – Cooper-Standard Holdings reported a 2.1% sales increase to $669 million for Q1 2021, with organic growth at 6.3%. Gross profit margin rose by 360 basis points. The net loss narrowed by 69.4% to $33.9 million, or $(2.00) per share, compared to $(6.55) per share the previous year. Adjusted EBITDA surged 366% to $38.5 million. The company anticipates a rebound in automotive production in the latter half of the year despite ongoing supply chain challenges. New business awards in Q1 reached $40 million, with a significant portion linked to electric vehicle platforms.

Cooper-Standard Holdings (NYSE:CPS) will release its Q1 2021 financial results on May 6, after market close. A conference call is scheduled for May 7 at 9:30 a.m. ET, featuring CEO Jeffrey Edwards and CFO Jonathan Banas, who will discuss the results and provide a business update. Participants can join via phone or by accessing a live webcast on the company's Investor Relations website. The call will be open for investor questions following the presentation.

Cooper Standard Holdings reported a 60% improvement in net loss for Q4 2020 at $27.2 million, compared to a loss of $67.4 million in Q4 2019. Adjusted net income rose to $3.3 million or $0.19 per diluted share, with adjusted EBITDA increasing by 122% to $57 million. Full-year sales dropped 23% to $2.4 billion, mainly due to COVID-19 impacts and business divestitures. The company ended the year with $438 million in cash, projecting 2021 sales between $2.5-$2.7 billion.

Cooper-Standard Holdings Inc. (NYSE:CPS) will release its fourth quarter and full year 2020 financial results on February 17, post-market close. A conference call is scheduled for February 18 at 9 a.m. ET, featuring CEO Jeffrey Edwards and CFO Jonathan Banas. The call will include financial results discussion and a general business update, followed by a Q&A session. Investors can join the call via phone or listen to a live webcast on the company's Investor Relations website. For more details, please visit Cooper Standard's website.