earnings
confidence high
sentiment negative
materiality 0.85
Cooper-Standard Q3 sales $526.7M, net loss $123.2M; guides FY 2021 sales $2.30–$2.34B
Cooper-Standard Holdings Inc.
2021-Q3 EPS reported
-$12.96
- Net loss of $123.2M ($7.20 diluted loss); adjusted net loss of $106.4M ($6.23 adjusted EPS loss).
- Sales of $526.7M, down 23% YoY from $683.2M, driven by semiconductor-related customer schedule reductions.
- Adjusted EBITDA of negative $33.9M vs positive $64.1M a year ago, including $11.2M credit loss on accounts receivable.
- Full-year 2021 guidance: sales $2.30–$2.34B, adjusted EBITDA $(25)–$(10)M, capex ~$100M.
- Electric vehicle platform new business awards of $30M in Q3; Fortrex licensing deal signed post-quarter.