Welcome to our dedicated page for Cooper-Standard Automotive news (Ticker: CPS), a resource for investors and traders seeking the latest updates and insights on Cooper-Standard Automotive stock.
Cooper-Standard Automotive Inc. (NYSE: CPS) is a leading global supplier of rubber and resin products for the automotive industry. Headquartered in Northville, Michigan, the company has a significant presence in 21 countries and employs around 23,000 people. Cooper Standard produces a wide range of products including rubber and plastic sealings, fuel and brake lines, fluid transfer hoses, and anti-vibration systems. These products are essential components used by original equipment manufacturers (OEMs) and the replacement market for passenger vehicles and light trucks.
Among Cooper Standard’s largest customers are industry giants such as Ford, GM, FCA, Peugeot Citroen, and Volkswagen. The company generates a substantial portion of its revenue from its sealing systems products, including innovative solutions like Fortrex, dynamic and static seals, stainless steel trims, flush glass systems, and variable extrusions.
One of Cooper Standard's significant innovations is the FlushSeal™ System, which offers a patented solution for flush glass applications—a growing trend in electric vehicles. This system has been recognized as a finalist for the 2023 Society of Plastics Engineers (SPE) Automotive Innovation Award. The FlushSeal™ System is known for its flexibility, robust glass guidance, and aesthetic appeal, making it a preferred choice for OEMs.
Additionally, Cooper Standard has expanded its partnership with NIKE, Inc. to license its Fortrex™ material platform for footwear applications, underscoring the material's versatility and sustainability. The Fortrex™ material is an elastomeric compound that offers high elasticity, durability, weight savings, and improved performance, making it suitable for various applications beyond automotive, including shoe midsoles. The material also significantly reduces the product lifecycle carbon footprint compared to traditional materials.
Financially, Cooper Standard is on a growth trajectory. For the full year 2023, the company reported improvements in volume and mix, sustainable price adjustments, and reduced material costs. The company continues to leverage its robust engineering and manufacturing capabilities to secure new business awards, particularly in the electric vehicle sector.
In 2024, Cooper Standard announced an operational realignment to optimize asset allocation and enhance growth. This new structure, focused on product lines rather than geographic regions, aims to drive operational efficiency and margin expansion. Recent financial results indicate positive trends, with increases in sales and significant improvements in cash flow and liquidity. The company maintains a strong commitment to innovation, quality, and sustainability, ensuring its continued relevance and competitiveness in the automotive industry.
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.
Cooper Standard (NYSE: CPS) is set to participate in the J.P. Morgan 2024 Auto Conference in New York City on August 8, 2024. The company's chairman and CEO, Jeffrey Edwards, will deliver a presentation at 11:45 a.m. ET, discussing Cooper Standard's business strategies.
The presentation will be accessible to the public via live webcast. Interested parties can find the webcast link and presentation materials on Cooper Standard's investor relations website at https://ir.cooperstandard.com/events prior to the event. This conference provides an opportunity for investors and analysts to gain insights into Cooper Standard's plans and outlook in the automotive industry.
Cooper-Standard Holdings Inc. (NYSE: CPS) has announced its plans to release second quarter 2024 financial results on Thursday, August 1, 2024, after market close. The company will host a conference call on Friday, August 2 at 9 a.m. ET to discuss the results and provide a general business update. Chairman and CEO Jeffrey Edwards and CFO Jonathan Banas will lead the call and answer investor questions. Interested parties can access the call via webcast or phone, with a toll-free number provided for U.S. and Canadian callers. A replay of the webcast will be available on the company's investor relations website shortly after the event.
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