secwatch.observer — SEC 8-K summary
======================================

Issuer:     Cooper-Standard Holdings Inc. (CPS)
CIK:        0001320461
Form:       8-K
Filed at:   2023-11-03T23:59:59+00:00
Accession:  0001320461-23-000137
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1320461/000132046123000137/0001320461-23-000137-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1320461/000132046123000137/cps-20231102.htm
  HTML page:      https://secwatch.observer/filing/0001320461-23-000137

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