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Cooper-Standard Holdings Inc.

For the period ended May 1, 2025. Filed May 2, 2025.

View on SEC.gov

About this filing

A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.

May 1, 2025 · Filed May 2, 2025

Use the contents to explore the available documents and sections.

CPS$17.93+0.4%Stored close · as of Nov 6, 2026
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EX-99 · Forward Looking Statements

Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Our use of words “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “believe,” “outlook,” “guidance,” “forecast,” or future or conditional verbs, such as “will,” “should,” “could,” “would,” or “may,” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon our current expectations and various assumptions. Our expectations, beliefs, and projections are expressed in good faith and we believe there is a reasonable basis for them. However, we cannot assure you that these expectations, beliefs and projections will be achieved. Forward-looking statements are not guarantees of future performance and are subject to significant risks and uncertainties that may cause actual results or achievements to be materially different from the future results or achievements expressed or implied by the forward-looking statements. Among other items, such factors may include: volatility or decline of the Company’s stock price, or absence of stock price appreciation; impacts and disruptions related to the wars in Ukraine and the Middle East; our ability to achieve commercial recoveries and to offset the adverse impact of higher commodity and other costs through pricing and other negotiations with our customers; work stoppages or other labor disruptions with our employees or our customers’ employees; prolonged or material contractions in automotive sales and production volumes; our inability to realize sales represented by awarded business; escalating pricing pressures; loss of large customers or significant platforms; our ability to successfully compete in the automotive parts industry; availability and increasing volatility in costs of manufactured components and raw materials; disruption in our supply base; competitive threats and commercial risks associated with our diversification strategy; possible variability of our working capital requirements; risks associated with our international operations, including changes in laws, regulations, and policies governing the terms of foreign trade such as increased trade restrictions and tariffs; foreign currency exchange rate fluctuations; our ability to control the operations of our joint ventures for our sole benefit; our substantial amount of indebtedness and rates of interest; our ability to obtain adequate financing sources in the future; operating and financial restrictions imposed on us under our debt instruments; the underfunding of our pension plans; significant changes in discount rates and the actual return on pension assets; effectiveness of continuous improvement programs and other cost savings plans; significant costs related to manufacturing facility closings or consolidation; our ability to execute new program launches; our ability to meet customers’ needs for new and improved products; the possibility that our acquisitions and divestitures may not be successful; product liability, warranty and recall claims brought against us; laws and regulations, including environmental, health and safety laws and regulations; legal and regulatory proceedings, claims or investigations against us; the potential impact of any future public health events on our financial condition and results of operations; the ability of our intellectual property to withstand legal challenges; cyber-attacks, data privacy concerns, other disruptions in, or the inability to implement upgrades to, our information technology systems; the possible volatility of our annual effective tax rate; the possibility of a failure to maintain effective controls and procedures; the possibility of future impairment charges to our goodwill and long-lived assets; our ability to identify, attract, develop and retain a skilled, engaged and diverse workforce; our ability to procure insurance at reasonable rates; and our dependence on our subsidiaries for cash to satisfy our obligations.; and other risks and uncertainties, including those detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission.

You should not place undue reliance on these forward-looking statements. Our forward-looking statements speak only as of the date of this press release and we undertake no obligation to publicly update or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except where we are expressly required to do so by law.

This press release also contains estimates and other information that is based on industry publications, surveys and forecasts. This information involves a number of assumptions and limitations, and we have not independently verified the accuracy or completeness of the information.

Contact for Analysts:Contact for Media:
Roger HendriksenChris Andrews
Cooper StandardCooper Standard
(248) 596-6465(248) 596-6217
roger.hendriksen@cooperstandard.comcandrews@cooperstandard.com

Financial statements and related notes follow:

COOPER-STANDARD HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(Dollar amounts in thousands except per share and share amounts)
Three Months Ended March 31,
20252024
Sales$667,069$676,425
Cost of products sold589,891614,782
Gross profit77,17861,643
Selling, administration & engineering expenses51,19155,366
Amortization of intangibles1,6121,661
Restructuring charges2,1111,133
Operating income22,2643,483
Interest expense, net of interest income(28,619)(29,281)
Equity in earnings of affiliates1,7762,270
Other income (expense), net8,884(3,649)
Income (loss) before income taxes4,305(27,177)
Income tax expense2,7034,131
Net income (loss)1,602(31,308)
Net income attributable to noncontrolling interests(50)(352)
Net income (loss) attributable to Cooper-Standard Holdings Inc.$1,552$(31,660)
Weighted average shares outstanding:
Basic17,712,56817,462,136
Diluted17,911,85517,462,136
Income (loss) per share:
Basic$0.09$(1.81)
Diluted$0.09$(1.81)
COOPER-STANDARD HOLDINGS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollar amounts in thousands except share amounts)
March 31, 2025December 31, 2024
(unaudited)
Assets
Current assets:
Cash and cash equivalents$140,368$170,035
Accounts receivable, net357,489310,738
Tooling receivable, net71,60369,204
Inventories172,957142,401
Prepaid expenses25,18925,833
Value added tax receivable55,77245,120
Other current assets55,86741,925
Total current assets879,245805,256
Property, plant and equipment, net531,991539,201
Operating lease right-of-use assets, net87,72187,292
Goodwill140,445140,443
Intangible assets, net33,37433,805
Other assets127,306127,068
Total assets$1,800,082$1,733,065
Liabilities and Equity
Current liabilities:
Debt payable within one year$42,501$42,428
Accounts payable348,475295,178
Payroll liabilities95,844103,701
Accrued interest32,0775,115
Accrued liabilities99,043111,502
Current operating lease liabilities19,17318,859
Total current liabilities637,113576,783
Long-term debt1,058,4601,057,839
Pension benefits92,49489,253
Postretirement benefits other than pensions26,01526,336
Long-term operating lease liabilities71,74071,907
Other liabilities36,56244,317
Total liabilities1,922,3841,866,435
Equity:
Common stock, $0.001 par value, 190,000,000 shares authorized; 19,613,956 shares issued and 17,548,147 shares outstanding as of March 31, 2025, and 19,392,340 shares issued and 17,326,531 shares outstanding as of December 31, 20241717
Additional paid-in capital518,088518,208
Retained deficit(469,010)(470,562)
Accumulated other comprehensive loss(163,803)(173,432)
Total Cooper-Standard Holdings Inc. equity(114,708)(125,769)
Noncontrolling interests(7,594)(7,601)
Total equity(122,302)(133,370)
Total liabilities and equity$1,800,082$1,733,065
COOPER-STANDARD HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(Dollar amounts in thousands)
Three Months Ended March 31,
20252024
Operating activities:
Net income (loss)$1,602$(31,308)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation22,21624,802
Amortization of intangibles1,6121,661
Share-based compensation expense2,1992,700
Equity in losses (earnings) of affiliates, net of dividends related to earnings193(693)
Payment-in-kind interest—6,787
Deferred income taxes3,929(317)
Other1,2571,233
Changes in operating assets and liabilities(47,859)(19,064)
Net cash used in operating activities(14,851)(14,199)
Investing activities:
Capital expenditures(17,543)(16,834)
Proceeds from sale of businesses2,377—
Other12165
Net cash used in investing activities(15,154)(16,669)
Financing activities:
Principal payments on long-term debt(763)(657)
Taxes withheld and paid on employees' share-based payment awards(1,678)(549)
Other(22)(5)
Net cash used in financing activities(2,463)(1,211)
Effects of exchange rate changes on cash, cash equivalents and restricted cash2,121(3,855)
Changes in cash, cash equivalents and restricted cash(30,347)(35,934)
Cash, cash equivalents and restricted cash at beginning of period178,697163,061
Cash, cash equivalents and restricted cash at end of period$148,350$127,127
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets:
Balance as of
March 31, 2025December 31, 2024
Cash and cash equivalents$140,368$170,035
Restricted cash included in other current assets7,0487,590
Restricted cash included in other assets9341,072
Total cash, cash equivalents and restricted cash$148,350$178,697
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.