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 Holdings Inc. (NYSE: CPS) has announced it will release its financial results for the first quarter of 2023 on May 3 after market close. The results will be accessible on the Cooper Standard website. Following this, a conference call will take place on May 4 at 9 a.m. ET, featuring Chairman and CEO Jeffrey Edwards and CFO Jonathan Banas. During this call, they will discuss financial outcomes, offer a business update, and answer investor questions. Interested parties can join through a live webcast or by phone after pre-registering online. A replay of the call will be available shortly after the event on Cooper Standard's investor webpage.
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