Cooper-Standard Holdings Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 15, 2024 at 04:30 pm EST
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Cooper-Standard Holdings Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 673.64 million compared to USD 649.34 million a year ago. Net loss was USD 55.15 million compared to USD 88.09 million a year ago. Basic loss per share from continuing operations was USD 3.16 compared to USD 5.12 a year ago. Diluted loss per share from continuing operations was USD 3.16 compared to USD 5.12 a year ago.
For the full year, the company reported sales was USD 2,815.88 million compared to USD 2,525.39 million a year ago. Net loss was USD 201.99 million compared to USD 215.38 million a year ago. Basic loss per share from continuing operations was USD 11.64 compared to USD 12.53 a year ago. Diluted loss per share from continuing operations was USD 11.64 compared to USD 12.53 a year ago.
Cooper-Standard Holdings Inc. is a manufacturer of sealing and fluid handling systems (consisting of fuel and brake delivery and fluid transfer systems). Its products are primarily for use in passenger vehicles and light trucks that are manufactured by global automotive original equipment manufacturers (OEMs) and replacement markets. It operates through four segments: North America, Europe, Asia Pacific, and South America. The Companyâs product lines include sealing systems and fluid handling systems (consisting of fuel and brake delivery and fluid transfer systems). The Company's brands include FlushSeal, Gen III Posi-Lock, Easy-Lock, MagAlloy, Ergo-Lock +, PlastiCool and Fortrex. FlushSeal is an advanced integrated solution for frame under glass static sealing systems. Its Easy-Lock is a small package coolant and fuel vapor quick connect. Its MagAlloy is a processing technology for brake lines that increases long term durability through superior corrosion resistance.
COOPER-STANDARD HOLDINGS INC. 
