Cooper Standard Reports Third Quarter Results

NORTHVILLE, Mich.- Cooper-Standard Holdings Inc. (NYSE: CPS) today reported results for the third quarter 2021.

Third Quarter 2021 Summary

Sales totaled $526.7 million, reflecting the negative impact of ongoing semiconductor-related customer schedule reductions

Net loss amounted to $123.2 million or $(7.20) per diluted share

Adjusted EBITDA totaled $(33.9) million, including the negative impact of semiconductor-related customer schedule reductions, higher materials costs and allowance for credit loss

Electric Vehicle platforms accounted for approximately $30 million in net new business awards

Subsequent to quarter end, the Company reached a long-term commercial agreement to license its FortrexTM technology to a footwear manufacturer

'Our operating teams continue to deliver world-class products, technology and service to our customers around the world despite significant ongoing headwinds and challenges,' said Jeffrey Edwards, chairman and CEO, Cooper Standard. 'Our commercial teams are engaged in aggressive discussions with our customers and suppliers to offset the incremental costs we have incurred from volatile production schedules and materials price inflation. We remain focused on optimizing those aspects of our business that are within our control and on executing our longer-term strategic initiatives.'

Consolidated Results

Read full results at:

https://www.ir.cooperstandard.com/news-releases/news-release-details/cooper-standard-reports-third-quarter-results

Contact Details

Contact for Analysts

Roger Hendriksen

[phone]

[e-mail]

Contact for Media

Chris Andrews

[phone]

[e-mail]

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