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Overview of Cooper-Standard Holdings Inc. (NYSE: CPS)
Cooper-Standard Holdings Inc., headquartered in Northville, Michigan, is a leading global supplier of sealing systems and fluid handling systems for the automotive industry. With a robust presence in over 20 countries, the company leverages its expertise in materials science and advanced manufacturing to deliver innovative and sustainable engineered solutions. Its primary customers include automotive original equipment manufacturers (OEMs) and the replacement market, underscoring its critical role in the global automotive supply chain.
Core Business Segments
Cooper-Standard operates through two primary business segments:
- Sealing Systems: These products are designed to enhance vehicle performance by providing superior sealing solutions for doors, windows, and other vehicle components. They contribute to noise reduction, thermal insulation, and overall vehicle durability.
- Fluid Handling Systems: This segment encompasses fuel and brake delivery systems, as well as fluid transfer systems. These products are integral to vehicle safety and efficiency, particularly in the context of evolving thermal management needs for electric and hybrid vehicles.
Innovation and Competitive Edge
Cooper-Standard is distinguished by its commitment to innovation and engineering excellence. The company has been at the forefront of developing lightweight materials and advanced thermoplastic solutions, which are increasingly critical in the transition to electric vehicles (EVs). For example, its proprietary eCoFlow™ product line simplifies fluid handling systems, improving efficiency and reducing vehicle weight—key factors in enhancing EV range and reducing costs. This focus on innovation enables Cooper-Standard to remain competitive in a rapidly evolving industry.
Global Reach and Market Relevance
With operations spanning North America, Europe, Asia Pacific, and South America, Cooper-Standard has established itself as a truly global entity. Its diverse geographic footprint allows it to serve a wide range of automotive OEMs, catering to both traditional internal combustion engine (ICE) vehicles and the growing market for hybrid and battery electric vehicles (BEVs). This adaptability positions the company as a vital partner for automakers navigating the industry's shift toward electrification.
Operational Excellence
Cooper-Standard's success is underpinned by its unwavering commitment to operational efficiency and process standardization. The company employs lean manufacturing principles and leverages vertical integration to optimize its production processes. These initiatives not only enhance product quality and reliability but also enable the company to mitigate cost pressures and maintain competitive pricing.
Challenges and Industry Dynamics
Like many in the automotive supply chain, Cooper-Standard faces challenges such as inflationary pressures, foreign exchange volatility, and fluctuations in global vehicle production volumes. However, its strategic focus on cost optimization and its ability to secure new business awards on hybrid and electric vehicle platforms demonstrate its resilience and adaptability in a competitive landscape.
Conclusion
Cooper-Standard Holdings Inc. is a cornerstone of the global automotive industry, delivering critical systems that enhance vehicle performance, safety, and efficiency. Through its focus on innovation, operational excellence, and customer-centric solutions, the company continues to adapt to the evolving demands of the market, particularly in the context of electrification and sustainability. With a strong engineering foundation and a global footprint, Cooper-Standard is well-positioned to support the transportation industry's ongoing transformation.
Cooper-Standard Holdings (NYSE: CPS) reported its Q4 and full-year 2024 results. Q4 highlights include sales of $660.8M (down 1.9% YoY), operating income of $31.7M (up $36.2M YoY), and net income of $40.2M ($2.24 per diluted share). Full-year 2024 performance showed sales of $2.73B (down 3.0% YoY), operating income of $69.8M (up 51.7%), and a net loss of $78.7M (-$4.48 per share).
The company achieved Q4 Adjusted EBITDA of $54.3M (8.2% of sales) and generated positive free cash flow of $63.2M. For the full year, Adjusted EBITDA reached $180.7M (6.6% of sales) with free cash flow of $25.9M. The company secured new business awards totaling $181.4M in 2024, including $105.8M for electric vehicle platforms.
Looking ahead to 2025, despite expected lower global light vehicle production, management projects improved financial results with sales guidance of $2.7-2.8B and Adjusted EBITDA of $200-235M.
Cooper-Standard Holdings (NYSE: CPS) has announced it will release its fourth quarter and full year 2024 financial results on Thursday, February 13, 2025, after market close. The company will host a conference call on Friday, February 14 at 9 a.m. ET, featuring CEO Jeffrey Edwards and CFO Jonathan Banas, who will discuss results and provide business updates.
Investors can join via webcast at the company's investor relations website or participate by phone using toll-free numbers: 800-836-8184 for US/Canada callers and 646-357-8785 for international callers. A Q&A session will be included, and participants are advised to dial in five minutes before the call. A replay will be available on the company's website after the event.
Cooper Standard (NYSE: CPS) has received the Society of Automotive Analysts' (SAA) Innovations in Lightweighting Award for its FlexiCore™ Thermoplastic Body Seal. This innovative solution, which was also named a finalist for the 2025 Automotive News PACE Pilot Award, replaces traditional metal components with eco-friendly plastic in vehicle body seals.
The groundbreaking technology offers up to 44% weight reduction while maintaining durability and performance. The fully recyclable seal addresses critical sustainability needs in the automotive industry, particularly significant for electric and hybrid vehicles where lightweight materials can offset battery and electric motor weight.
According to Patrick Clark, president of Sealing Systems and chief manufacturing officer, this innovation demonstrates Cooper Standard's commitment to providing solutions that meet sustainability, performance, and cost-efficiency requirements for their customers.
Cooper Standard (NYSE: CPS) has been named to Newsweek's America's Most Responsible Companies list for the sixth consecutive year. The company ranked 7th in the Automotive & Components industry category for the 2025 rankings, which were conducted by Newsweek and Statista Inc.
The recognition is based on a comprehensive evaluation of Environmental, Social, and Corporate Governance (ESG) performance. The assessment included analysis of over 30 performance indicators among the top 2,000 public US companies and a survey of 26,000 US residents regarding companies' CSR reputation.
The final list features the top 600 most responsible companies across 14 industries in the United States. Cooper Standard has maintained its position on this prestigious list since its inception, demonstrating consistent commitment to corporate responsibility and sustainable business practices.
Cooper Standard (NYSE: CPS) has won the 2024 Society of Plastics Engineers (SPE) Automotive Innovation Award in the powertrain category for its plastic coolant hub. The innovative solution can be adapted to all OEM systems, including BEV, ICE and hybrid vehicles. Unlike traditional coolant handling systems with multiple discrete components, this hub combines fluid handling components and integrates pressure balancing into a compact plastic manifold.
The technology offers significant advantages including improved vehicle performance, reduced packaging space, decreased assembly time, lower labor requirements, and more sustainable operations through reduced material and product waste.
Cooper Standard (NYSE: CPS) has introduced FlexiCore™ Thermoplastic Body Seal, a revolutionary vehicle sealing solution that replaces traditional metal carriers with recyclable lightweight plastic. The new product offers up to 44% weight reduction and is made of 100% TPV and PP materials, making it fully recyclable.
Key benefits include outstanding flexibility for easy assembly, high retention performance, reduced energy consumption in manufacturing, and improved aesthetics. The product has successfully completed internal mass production testing and is being tailored for various OEM requirements. FlexiCore has been named a 2025 Automotive News PACE Award finalist.
Cooper Standard (NYSE: CPS) reported third quarter 2024 results with sales of $685.4 million, down from $736.0 million in Q3 2023. The company posted a net loss of $11.1 million ($0.63 per diluted share) compared to net income of $11.4 million in Q3 2023. Adjusted EBITDA was $46.1 million (6.7% of sales), down from $79.1 million last year. The company achieved $24.5 million in savings from lean operations and cost initiatives. Net new business awards totaled $44.0 million, including $32.3 million for electric vehicle platforms. The company updated its 2024 guidance, lowering sales expectations to $2.70-$2.75 billion and adjusted EBITDA to $180-$195 million.
Cooper-Standard Holdings Inc. (NYSE: CPS) has announced its plans to release third quarter 2024 financial results on Thursday, October 31 after market close. The company will host a conference call on Friday, November 1 at 9 a.m. ET to discuss the results and provide a business update.
Key details:
- Earnings results will be posted on the Cooper Standard website
- Chairman and CEO Jeffrey Edwards and CFO Jonathan Banas will lead the call
- Investors can join via webcast or phone (toll-free: 800-836-8184 for US/Canada, 646-357-8785 for international)
- Q&A session will be available for investment community representatives
- A replay of the webcast will be available on the company's website after the event
Cooper Standard (NYSE: CPS) has been recognized as a 2025 Automotive News PACE Pilot Award finalist for two innovative technologies: the eCoFlow Switch Pump and the FlexiCore Thermoplastic Body Door Seal. The eCoFlow Switch Pump, developed with Saleri Group, combines an electric water pump and an electrically driven valve in a single module, offering efficiency improvements and reduced packaging space for electrified and hybrid vehicles. The FlexiCore seal replaces traditional metal parts with lightweight plastic, reducing weight by up to 44% and offering full recyclability. These innovations demonstrate Cooper Standard's commitment to delivering value through technological advancement in the automotive industry.
Cooper-Standard Holdings Inc. (NYSE: CPS) reported its Q2 2024 results, showing improved financial performance despite challenging market conditions. Gross profit increased 6.7% to $82.9 million compared to Q2 2023. While the company reported a net loss of $76.2 million, the adjusted net loss improved by 43.5% to $11.3 million. Adjusted EBITDA rose 6.2% to $50.9 million, representing 7.2% of sales.
The company implemented a cost optimization initiative expected to generate $20 million in savings in H2 2024 and $45 million annually by 2025. Net new business awards totaled $60.6 million, with significant wins in hybrid and electric vehicle platforms. Cooper Standard updated its 2024 guidance, projecting sales of $2.7-$2.8 billion and adjusted EBITDA of $180-$200 million.
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