Cooper-Standard Q3 net income $11.4M, sales up 12%; raises FY 2023 guidance

Cooper-Standard Holdings Inc.

2023-Q3 EPS reported -$8.47

Sales $736M (+12% YoY); net income $11.4M vs loss $32.7M; adj. EPS $0.85 vs loss $1.71.
Adj. EBITDA $79.1M (10.7% of sales), up from $20.5M; driven by volume, price adjustments, lean savings.
Raised FY 2023 sales guidance to $2.7-2.8B and adj. EBITDA to $165-180M.
Cash $204.8M; repaid $120M ABL borrowings on Nov 3 after UAW tentative agreements.
New EV platform awards $34.4M in incremental annualized sales in Q3.

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 0.95

Cooper-Standard Holdings Inc. reported the third quarter ended September 30, 2023 results: revenue $736.0 million, net income $11.4 million, EPS $0.65 per diluted share. Guidance raised.

Period: the third quarter ended September 30, 2023
Revenue: $736.0 million
Net income: $11.4 million
EPS: $0.65 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

NORTHVILLE, Mich., November 2, 2023 -- Cooper-Standard Holdings Inc. (NYSE: CPS) today reported results for the third quarter 2023. Third Quarter 2023 Summary • Sales totaled $736.0 million, an increase of 12.0% compared to third quarter 2022 • Gross profit totaled $106.5 million, an increase of 176.3% compared to third quarter 2022 • Net income of $11.4 million, or

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Source: SEC EDGAR

accession 0001320461-23-000137

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