secwatch.observer — SEC 8-K summary
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Issuer:     Cooper-Standard Holdings Inc. (CPS)
CIK:        0001320461
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001320461-23-000075
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cooper-Standard Q1 sales up 11% to $682.5M; net loss widens to $130.4M on $81.9M debt refinancing charge
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- Sales $682.5M (+11.3% YoY) driven by volume/mix and inflation recovery; gross profit up 94% to $41.8M.
- Net loss $130.4M ($7.57/sh) includes $81.9M loss on debt refinancing; adjusted net loss $46.2M ($2.68/sh).
- Adjusted EBITDA $12.5M vs $0.1M YoY; margin improved ~180 bps on volume, price adjustments, and lean savings.
- Quarter-end cash $105.8M; total liquidity $254.8M. Expects further inflation recovery and price adjustments.
- Secured ~$18M in net new annualized EV platform awards during Q1 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1320461/000132046123000075/0001320461-23-000075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1320461/000132046123000075/cps-20230503.htm
  HTML page:      https://secwatch.observer/filing/0001320461-23-000075

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer