Cooper-Standard Q3 sales up 24.8% to $657M, net loss narrows; cuts FY2022 guidance and flags refinancing risk

Cooper-Standard Holdings Inc.

2022-Q3 EPS reported -$7.41

Q3 2022 sales $657.2M (+24.8% YoY); net loss narrowed to $32.7M ($1.90/sh) from $123.2M ($7.20/sh) YoY.
Adjusted EBITDA improved to $20.5M from negative $33.9M in Q3 2021; margin up ~950 bps.
Full-year 2022 guidance lowered: sales $2.45-$2.55B (prev $2.5-$2.7B), Adj. EBITDA $45-$50M (prev $50-$60M).
Debt service for next 12 months contingent on refinancing term loan; discussions ongoing with investors.
Net new business awards of $66M in Q3, including $27M on EV platforms; YTD awards $124M, EV $72M since 2020.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Cooper-Standard Holdings Inc. reported third quarter ended September 30, 2022 results: revenue $657.2 million, net income $(32.7) million, EPS $(1.90) per diluted share.

Period: third quarter ended September 30, 2022
Revenue: $657.2 million
Net income: $(32.7) million
EPS: $(1.90) per diluted share
Result: reported results

Exact text from the filing

NORTHVILLE, Mich., November 1, 2022 -- Cooper-Standard Holdings Inc. (NYSE: CPS) today reported results for the third quarter 2022. Third Quarter 2022 Summary • Sales totaled $657.2 million, an increase of 24.8% compared to third quarter 2021 • Net loss narrowed to $32.7 million or $(1.90) per diluted share compared to a net loss of $123.2 million or $(7.20) per

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Source: SEC EDGAR

accession 0001320461-22-000114

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