Cooper Standard Q2 sales up 19.4% to $724M; adjusted EBITDA $48M vs. -$10M YoY

Cooper-Standard Holdings Inc.

2023-Q2 EPS reported -$9.15

Sales $723.7M, up 19.4% YoY; gross profit $77.7M, up 405.4%.
Net loss $27.8M ($1.61/diluted share) vs. net loss $33.2M in Q2 2022; adjusted EBITDA $47.9M vs. -$10.4M.
Net new business awards $84.9M, including $36.4M for new EV programs.
Full-year guidance reaffirmed: sales $2.6–$2.8B, Adj. EBITDA $150–$175M, capex $70–$80M.
Cash and cash equivalents $73.1M; total liquidity $229.6M; ABL facility undrawn.

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