Cooper-Standard Holdings Inc.
For the period ended Jul 31, 2025. Filed Aug 1, 2025.
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Jul 31, 2025 · Filed Aug 1, 2025
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Contents
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 Hendriksen | Chris Andrews |
| Cooper Standard | Cooper Standard |
| (248) 596-6465 | (248) 596-6217 |
| roger.hendriksen@cooperstandard.com | candrews@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 June 30, | Six Months Ended June 30, | |||
| 2025 | 2024 | 2025 | 2024 | |
| Sales | $705,973 | $708,362 | $1,373,042 | $1,384,787 |
| Cost of products sold | 612,922 | 625,422 | 1,202,813 | 1,240,204 |
| Gross profit | 93,051 | 82,940 | 170,229 | 144,583 |
| Selling, administration & engineering expenses | 51,210 | 52,408 | 102,401 | 107,774 |
| Amortization of intangibles | 1,710 | 1,605 | 3,322 | 3,266 |
| Restructuring charges | 2,852 | 17,781 | 4,963 | 18,914 |
| Operating income | 37,279 | 11,146 | 59,543 | 14,629 |
| Interest expense, net of interest income | (28,712) | (28,635) | (57,331) | (57,916) |
| Equity in earnings of affiliates | 1,708 | 1,302 | 3,484 | 3,572 |
| Pension settlement charge | — | (46,787) | — | (46,787) |
| Other (expense) income, net | (3,667) | (5,129) | 5,217 | (8,778) |
| Income (loss) before income taxes | 6,608 | (68,103) | 10,913 | (95,280) |
| Income tax expense | 8,081 | 8,080 | 10,784 | 12,211 |
| Net (loss) income | (1,473) | (76,183) | 129 | (107,491) |
| Net loss (income) attributable to noncontrolling interests | 72 | (60) | 22 | (412) |
| Net (loss) income attributable to Cooper-Standard Holdings Inc. | $(1,401) | $(76,243) | $151 | $(107,903) |
| Weighted average shares outstanding: | ||||
| Basic | 17,882,361 | 17,564,015 | 17,797,933 | 17,513,076 |
| Diluted | 17,882,361 | 17,564,015 | 18,058,008 | 17,513,076 |
| (Loss) income per share: | ||||
| Basic | $(0.08) | $(4.34) | $0.01 | $(6.16) |
| Diluted | $(0.08) | $(4.34) | $0.01 | $(6.16) |
| COOPER-STANDARD HOLDINGS INC. | ||
|---|---|---|
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||
| (Dollar amounts in thousands except share amounts) | ||
| June 30, 2025 | December 31, 2024 | |
| (unaudited) | ||
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $121,620 | $170,035 |
| Accounts receivable, net | 371,256 | 310,738 |
| Tooling receivable, net | 75,387 | 69,204 |
| Inventories | 181,318 | 142,401 |
| Prepaid expenses | 26,186 | 25,833 |
| Value added tax receivable | 56,701 | 45,120 |
| Other current assets | 52,922 | 41,925 |
| Total current assets | 885,390 | 805,256 |
| Property, plant and equipment, net | 534,247 | 539,201 |
| Operating lease right-of-use assets, net | 87,045 | 87,292 |
| Goodwill | 140,729 | 140,443 |
| Intangible assets, net | 31,783 | 33,805 |
| Other assets | 140,517 | 127,068 |
| Total assets | $1,819,711 | $1,733,065 |
| Liabilities and Equity | ||
| Current liabilities: | ||
| Debt payable within one year | $41,789 | $42,428 |
| Accounts payable | 356,751 | 295,178 |
| Payroll liabilities | 101,668 | 103,701 |
| Accrued interest | 5,097 | 5,115 |
| Accrued liabilities | 109,097 | 111,502 |
| Current operating lease liabilities | 19,492 | 18,859 |
| Total current liabilities | 633,894 | 576,783 |
| Long-term debt | 1,059,454 | 1,057,839 |
| Pension benefits | 100,120 | 89,253 |
| Postretirement benefits other than pensions | 26,674 | 26,336 |
| Long-term operating lease liabilities | 71,177 | 71,907 |
| Other liabilities | 33,774 | 44,317 |
| Total liabilities | 1,925,093 | 1,866,435 |
| Equity: | ||
| Common stock, $0.001 par value, 190,000,000 shares authorized; 19,699,222 shares issued and 17,633,413 shares outstanding as of June 30, 2025, and 19,392,340 shares issued and 17,326,531 shares outstanding as of December 31, 2024 | 17 | 17 |
| Additional paid-in capital | 519,562 | 518,208 |
| Retained deficit | (470,411) | (470,562) |
| Accumulated other comprehensive loss | (146,784) | (173,432) |
| Total Cooper-Standard Holdings Inc. equity | (97,616) | (125,769) |
| Noncontrolling interests | (7,766) | (7,601) |
| Total equity | (105,382) | (133,370) |
| Total liabilities and equity | $1,819,711 | $1,733,065 |
| COOPER-STANDARD HOLDINGS INC. | ||
|---|---|---|
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||
| (Unaudited) | ||
| (Dollar amounts in thousands) | ||
| Six Months Ended June 30, | ||
| 2025 | 2024 | |
| Operating activities: | ||
| Net income (loss) | $129 | $(107,491) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation | 45,027 | 49,070 |
| Amortization of intangibles | 3,322 | 3,266 |
| Pension settlement charge | — | 46,787 |
| Share-based compensation expense | 5,481 | 4,862 |
| Equity in earnings of affiliates, net of dividends related to earnings | (1,515) | (1,995) |
| Payment-in-kind interest | — | 12,367 |
| Deferred income taxes | 2,496 | 915 |
| Other | 2,448 | 2,601 |
| Changes in operating assets and liabilities | (87,819) | (36,594) |
| Net cash used in operating activities | (30,431) | (26,212) |
| Investing activities: | ||
| Capital expenditures | (25,315) | (28,077) |
| Proceeds from sale of businesses | 2,558 | — |
| Other | — | 242 |
| Net cash used in investing activities | (22,757) | (27,835) |
| Financing activities: | ||
| Principal payments on long-term debt | (1,412) | (1,255) |
| Decrease in short-term debt, net | (1,259) | (264) |
| Debt issuance costs and other fees | — | (1,403) |
| Taxes withheld and paid on employees' share-based payment awards | (1,686) | (571) |
| Net cash used in financing activities | (4,357) | (3,493) |
| Effects of exchange rate changes on cash, cash equivalents and restricted cash | 6,419 | (4,580) |
| Changes in cash, cash equivalents and restricted cash | (51,126) | (62,120) |
| Cash, cash equivalents and restricted cash at beginning of period | 178,697 | 163,061 |
| Cash, cash equivalents and restricted cash at end of period | $127,571 | $100,941 |
| Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets: | ||
| Balance as of | ||
| June 30, 2025 | December 31, 2024 | |
| Cash and cash equivalents | $121,620 | $170,035 |
| Restricted cash included in other current assets | 3,843 | 7,590 |
| Restricted cash included in other assets | 2,108 | 1,072 |
| Total cash, cash equivalents and restricted cash | $127,571 | $178,697 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.