Welcome to our dedicated page for Cooper-Standard Holdings news (Ticker: CPS), a resource for investors and traders seeking the latest updates and insights on Cooper-Standard Holdings stock.
Cooper-Standard Holdings Inc. (NYSE: CPS) generates a steady flow of news as a global supplier of sealing systems and fluid handling systems and components for transportation and industrial markets. Headquartered in Northville, Michigan, with locations in 20 countries, the company regularly reports on financial performance, product innovations, corporate responsibility recognition and strategic initiatives.
Investors following CPS can expect earnings announcements and related updates, often furnished on Form 8-K and discussed on quarterly conference calls and webcasts. These releases provide details on sales, operating income, net income or loss, adjusted EBITDA, liquidity and segment performance for Sealing Systems and Fluid Handling Systems. Management also discusses business conditions such as light vehicle production trends, cost pressures and demand for hybrid and battery electric vehicle platforms.
Product and technology news is another key theme. Cooper Standard has highlighted innovations like a quick connector with integrated temperature sensor used in an electric vehicle cooling system, recognized as a finalist in the Society of Plastics Engineers Automotive Innovation Awards. The company also reports on advanced sealing technologies, including its FlexiCore thermoplastic body seal and FlushSeal sealing system, showcased on a Renault Group demo car focused on reducing CO2 emissions and enabling new design features.
Readers will also find updates on corporate responsibility and recognition, such as Cooper Standard’s repeated inclusion on Newsweek’s list of America’s Most Responsible Companies, as well as organizational developments like leadership appointments in information technology and artificial intelligence. Features on the Industrial & Specialty Group (ISG) illustrate how the company is extending its technologies into non-automotive and specialty markets.
This news page helps investors, analysts and industry observers monitor CPS-related developments, from quarterly results and guidance updates to technology collaborations, ESG milestones and diversification efforts across transportation and industrial sectors.
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.
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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.
Cooper Standard (NYSE:CPS) announced key leadership changes effective March 1, 2021, aimed at optimizing its operations and supporting its diversification strategy. Christopher E. Couch will lead the Applied Materials Science (AMS) business while retaining his role in global technology and product development. D. William Pumphrey will oversee the Industrial and Specialty Group (ISG) in addition to his current responsibilities. Chairman and CEO Jeffrey S. Edwards affirmed that these changes align with improving return on invested capital (ROIC) while focusing on profitable growth across diverse markets.
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.