Cooper-Standard Holdings Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 04:30 pm EDT
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Cooper-Standard Holdings Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 736.04 million compared to USD 657.15 million a year ago. Net income was USD 11.36 million compared to net loss of USD 32.69 million a year ago. Basic earnings per share from continuing operations was USD 0.65 compared to basic loss per share from continuing operations of USD 1.9 a year ago. Diluted earnings per share from continuing operations was USD 0.65 compared to diluted loss per share from continuing operations of USD 1.9 a year ago.
For the nine months, sales was USD 2,142.24 million compared to USD 1,876.05 million a year ago. Net loss was USD 146.83 million compared to USD 127.29 million a year ago. Basic loss per share from continuing operations was USD 8.47 compared to USD 7.41 a year ago. Diluted loss per share from continuing operations was USD 8.47 compared to USD 7.41 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. 
