earnings
confidence high
sentiment negative
materiality 0.70
Cooper Standard Q1 sales $613M, net loss $61.4M; adjusted EBITDA nearly zero
Cooper-Standard Holdings Inc.
2022-Q1 EPS reported
-$3.58
- Net loss of $61.4M ($3.58 diluted loss); adjusted net loss $51.4M ($3.00 adjusted loss).
- Sales of $613M, down 8.4% YoY from $669M on weak light vehicle production and unfavorable FX.
- Adjusted EBITDA of $0.1M vs $38.5M in Q1 2021; hit by higher commodity costs and inflation.
- Expanded index-based agreements cover >60% of revenue to recover material cost inflation.
- Cash $253M, total liquidity $396M; expects $52M in tax refunds from CARES Act in Q2 2022.