About Cooper Standard Cooper Standard, headquartered in Northville, Mich., with locations in 20 countries, is a leading global supplier of sealing and fluid handling systems and components. Utilizing our materials science and manufacturing expertise, we create innovative and sustainable engineered solutions for diverse transportation and industrial markets. Cooper Standard's approximately 22,000 team members (including contingent workers) are at the heart of our success, continuously improving our business ...

Core Viewpoint - Canadian Premium Sand Inc. is advancing its solar glass manufacturing plans, focusing on a US facility that aims to produce 4GW of solar glass annually while also navigating challenges related to trade policies and tariffs affecting its Canadian project [1][2][7]. US Project - The US Project involves a proposed solar glass manufacturing facility expected to produce 4GW of pattern solar glass annually [2]. - A Letter of Intent has been signed for a 12-year lease of a property with existing infrastructure, which will facilitate a capital-efficient market entry [3]. - The site aligns with US federal goals to reshore manufacturing and has secured MOUs for approximately 50% of its production capacity [4]. - The capital cost for the US Project is estimated at around US$350 million, with pre-construction engineering efforts underway [5]. Selkirk Project - The Selkirk Project in Manitoba aims to establish a vertically integrated solar glass manufacturing facility, but faces financing challenges due to US import tariffs on Canadian goods [7]. - The stability of the Canada-US trade relationship is crucial for advancing the Selkirk Project [7]. Policy Changes Impacting the North American Solar Market - Proposed amendments to the Inflation Reduction Act could eliminate domestic content bonuses, affecting the pricing competitiveness of US-made solar glass [8]. - New regulations targeting Prohibited Foreign Entities may significantly impact the import of solar glass from Asia-Pacific, potentially enhancing the commercial viability of North American production [9]. Company Overview - Canadian Premium Sand Inc. owns a large silica sand deposit and is developing manufacturing capacity for ultra-high-clarity pattern solar glass, with a combined capacity of 10GW across its US and Canadian facilities [11][12].

Group 1 - Cooper-Standard's stock surged 44% on May 2 following the announcement of Q1 2025 results [1] - The reported EPS of $0.09 significantly exceeded the expected EPS of -$1.14, primarily due to a royalty payment [1] Group 2 - The company is focused on identifying firms with high potential for revenue and earnings growth that are not fully reflected in current market prices [1] - The investment strategy emphasizes long-term holdings, with a preference for less cyclical and higher growth sectors [1]

Cooper Standard, headquartered in Northville, Mich., with locations in 20 countries, is a leading global supplier of sealing and fluid handling systems and components. Utilizing our materials science and manufacturing expertise, we create innovative and sustainable engineered solutions for diverse transportation and industrial markets. Cooper Standard's approximately 22,000 team members (including contingent workers) are at the heart of our success, continuously improving our business and surrounding commun ...

Core Insights - Shannon B. Quinn, president of Cooper Standard's Industrial & Specialty Group, has been recognized as one of Automotive News' 100 Leading Women in the North American Auto Industry for 2025 [1][2] - This recognition highlights the significant influence and leadership of female executives in the automotive sector, with the list being published every five years since 2000 [2][6] Company Overview - Cooper Standard is a leading global supplier of sealing and fluid handling systems and components, headquartered in Northville, Michigan, with operations in 20 countries [8] - The company employs approximately 22,000 team members, including contingent workers, and focuses on innovative and sustainable engineered solutions for diverse transportation and industrial markets [8] Leadership and Contributions - Jeffrey Edwards, chairman and CEO of Cooper Standard, praised Quinn for her visionary leadership and commitment to excellence, emphasizing her role in shaping the future of the automotive industry [3] - Quinn has over 25 years of experience in various functions and product areas, and she is currently advancing Cooper Standard's diversification strategy to enhance growth and value [3][4] - She has held several executive positions in leading automotive companies, including Bridgestone Corp, Adient, Johnson Controls, and Ford [4] Recognition Process - The 2025 class of Automotive News' 100 Leading Women was selected through a months-long nomination and judging process, attracting hundreds of entries from the U.S., Canada, and Mexico [7]

NORTHVILLE, Mich., May 14, 2025 /PRNewswire/ -- Cooper Standard (NYSE: CPS) today announced the release of its 2024 Corporate Responsibility Report, titled "Transformation: Change is Constant," underscoring the Company's continued commitment to ethical business practices, environmental stewardship, philanthropic outreach, and financial strength. Notably, the 2024 report announces the Company's commitment to develop near-term science-based targets that will pave the way toward the Company's aspiration to bec ...

Core Insights - Cooper-Standard Holdings Inc. has experienced a significant stock price increase of 43.8% since reporting first-quarter 2025 results, outperforming the S&P 500 index's 1.5% rise, with a remarkable 77% gain over the past month compared to the S&P 500's 12.4% increase [1] Revenue & Earnings - For the quarter ended March 31, 2025, Cooper-Standard reported revenues of $667.1 million, a decrease of 1.4% from $676.4 million a year earlier, primarily due to unfavorable foreign currency exchange rates [2] - The company achieved a net income of $1.6 million, reversing a net loss of $31.7 million from the previous year, with adjusted net income at $3.5 million or 19 cents per diluted share, compared to an adjusted loss of $30.6 million or $1.75 per diluted share last year [2] Profitability Metrics - Gross profit increased to $77.2 million from $61.6 million, raising the margin from 9.1% to 11.6% [3] - Adjusted EBITDA rose to $58.7 million from $29.3 million, increasing the margin from 4.3% to 8.8%, driven by cost efficiencies and restructuring savings [3] Operational Performance - Cooper-Standard achieved a 99% green quality scorecard and a 97% green scorecard for customer service, with 47 plants recording a perfect safety record [4] - Lean manufacturing and purchasing initiatives resulted in $20 million in savings, while restructuring activities contributed an additional $8 million in cost reductions [4] Business Development - The company secured $55 million in net new business awards during the quarter, validating its value proposition across various vehicle platforms [5] Leadership Insights - CEO Jeff Edwards highlighted the quarter as one of the best in terms of operations and customer service, attributing improvements to the alignment around four strategic imperatives [6] - CFO Jon Banas noted improved profitability despite inflationary pressures and consistent cash usage in operations, with capital expenditure of $17.5 million focused on new customer programs [7] Factors Influencing Results - The revenue decline was largely due to a $15 million impact from foreign exchange, partially offset by a favorable $6 million volume and mix shift [8] - EBITDA gains were driven by $20 million in lean savings, $8 million from restructuring, and additional benefits from lower SG&A and favorable FX impacts [8] Financial Position - Cooper-Standard ended the quarter with $140 million in cash and $160 million in undrawn ABL availability, with a net leverage ratio of 4.6X, targeting a reduction below 2X by 2027 [9] Guidance & Outlook - Management reaffirmed expectations for double-digit adjusted EBITDA margins and improving cash flow, while acknowledging potential macro uncertainties related to tariffs and trade policies [10][11] - The company anticipates strong tailwinds from increasing hybrid vehicle production, estimating an 80% surge in content per vehicle opportunity in this segment [12] Product Development - The ongoing commercialization of the eCoFlow Switch Pump, designed for hybrid and electric vehicle thermal management systems, is expected to support long-term growth as production ramps up [13] Summary - Cooper-Standard's first-quarter 2025 results indicate a significant turnaround in profitability and operational execution, supported by lean initiatives, innovation, and trends in hybrid vehicle growth [14]

PART I. FINANCIAL INFORMATION This section outlines the unaudited financial statements, management's analysis, market risk, and internal controls for Q1 2025 [Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements) Q1 2025 net income of $1.6 million reverses a $31.3 million loss in Q1 2024, due to improved gross profit Financial Performance | Financial Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Sales | $667.1M | $676.4M | | Gross Profit | $77.2M | $61.6M | | Operating Income | $22.3M | $3.5M | | Net Income (Loss) | $1.6M | ($31.3M) | | Diluted EPS | $0.09 | ($1.81) | Balance Sheet Overview | Balance Sheet Item | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $140.4M | $170.0M | | Total Assets | $1,800.1M | $1,733.1M | | Total Debt | $1,101.0M | $1,100.3M | | Total Liabilities | $1,922.4M | $1,866.4M | | Total Equity | ($122.3M) | ($133.4M) | Cash Flow Summary | Cash Flow Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | ($14.9M) | ($14.2M) | | Net Cash Used in Investing Activities | ($15.2M) | ($16.7M) | | Net Cash Used in Financing Activities | ($2.5M) | ($1.2M) | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail revenue, restructuring, debt compliance, and significant royalty settlement income Revenue Breakdown (Q1 2025) | Revenue Breakdown (Q1 2025) | Amount (in thousands) | | :--- | :--- | | **By Segment** | | | Sealing Systems | $344,311 | | Fluid Handling Systems | $303,998 | | **By Region** | | | North America | $375,098 | | Europe | $148,400 | | Asia Pacific | $96,673 | - A May 2024 restructuring plan eliminated approximately **400 positions** and is anticipated to generate annualized savings of **$40,000 to $45,000**[39](index=39&type=chunk)[40](index=40&type=chunk) - Restructuring charges for Q1 2025 were **$2.1 million**[42](index=42&type=chunk) - Total debt as of March 31, 2025, was approximately **$1.1 billion**, consisting mainly of **First Lien Notes ($611.6 million)** and **Third Lien Notes ($388.5 million)**[46](index=46&type=chunk) - The company was in **compliance with all debt covenants**[57](index=57&type=chunk) - Other income for Q1 2025 was **$8.9 million**, which included **$10.0 million** related to royalty settlements from intellectual property licensed to a buyer of a previously divested business[76](index=76&type=chunk)[115](index=115&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=22&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) MD&A highlights challenging economic outlook, improved gross profit, doubled Adjusted EBITDA, and sufficient liquidity - The company expects global light vehicle production in 2025 to be approximately **2% lower** than in 2024, citing economic risks, high interest rates, and uncertainty around U.S. trade policy[95](index=95&type=chunk)[102](index=102&type=chunk) - Gross profit margin improved to **11.6% in Q1 2025** from **9.1% in Q1 2024**[108](index=108&type=chunk) - This improvement was driven by manufacturing and purchasing savings from lean initiatives and restructuring, which more than offset inflationary pressures[112](index=112&type=chunk) Segment Adjusted EBITDA | Segment Adjusted EBITDA | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Sealing systems | $32.3M | $21.4M | +$10.9M | | Fluid handling systems | $21.0M | $11.0M | +$10.0M | | **Total Consolidated Adjusted EBITDA** | **$58.7M** | **$29.3M** | **+$29.4M** | - As of March 31, 2025, the company had **$159.7 million** available for borrowing under its ABL Facility[55](index=55&type=chunk) - The company believes its liquidity is sufficient to meet its requirements for the foreseeable future[128](index=128&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=29&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes were reported in the company's market risk disclosures since the 2024 Annual Report - There have been **no material changes** to the company's market risk disclosures since the 2024 Annual Report[145](index=145&type=chunk) [Controls and Procedures](index=30&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal control - The CEO and CFO concluded that the company's disclosure controls and procedures were **effective** at a reasonable assurance level as of March 31, 2025[146](index=146&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to affect, the company's internal control[147](index=147&type=chunk) PART II. OTHER INFORMATION This section addresses new risk factors related to trade policies and details share repurchase activities [Risk Factors](index=31&type=section&id=Item%201A.%20Risk%20Factors) A new risk factor highlights the adverse impact of changes in U.S. or foreign trade policies, including tariffs - A new risk factor was added regarding changes in U.S. or foreign trade policies, including tariffs and trade restrictions[150](index=150&type=chunk) - Tariffs imposed by the U.S. and retaliatory tariffs from other countries, like China, could **increase product costs**, **decrease demand**, and **disrupt the supply chain**[152](index=152&type=chunk) - The company warns that it may not be able to fully mitigate the adverse effects of prolonged tariffs or trade disputes[152](index=152&type=chunk)[153](index=153&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=31&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No shares were repurchased under the public program in Q1 2025; 116,037 shares were repurchased for employee tax withholding - No shares were repurchased under the common stock repurchase program during Q1 2025[154](index=154&type=chunk)[155](index=155&type=chunk) - As of March 31, 2025, approximately **$98.7 million** of repurchase authorization remained under the program[154](index=154&type=chunk) - A total of **116,037 shares** were repurchased during the quarter to satisfy employee tax withholding requirements upon the vesting of restricted stock awards, separate from the public repurchase program[155](index=155&type=chunk)

Cooper-Standard (CPS) Q1 2025 Earnings Call May 02, 2025 09:00 AM ET Company Participants Roger Hendriksen - Director of Investor RelationsJeffrey Edwards - Chairman & CEOJonathan Banas - Executive VP & CFOKirk Ludtke - Managing DirectorBen Briggs - Director Conference Call Participants Michael Ward - Finance Analyst Operator Good morning, ladies and gentlemen, and welcome to the Cooper Standard First Quarter twenty twenty five Earnings Conference Call. During the presentation, all participants will be in l ...

Financial Data and Key Metrics Changes - First quarter 2025 sales were $667.1 million, a slight decrease of 1.4% compared to the first quarter of 2024, primarily due to unfavorable foreign exchange [13][14] - Adjusted EBITDA for the quarter was $58.7 million, compared to $29.3 million in the first quarter of last year, driven by lean initiatives and restructuring savings [14][17] - Net income for the first quarter of 2025 was $1.6 million, compared to a net loss of $31.7 million in the first quarter of 2024 [15] - Capital expenditures totaled $17.5 million, or 2.6% of sales, consistent with the previous year [15] Business Line Data and Key Metrics Changes - The company achieved $20 million in savings through lean initiatives and $8 million from restructuring initiatives in the first quarter [7][8] - The company awarded $55 million in net new business during the first quarter, indicating strong customer demand for new technologies [8][9] Market Data and Key Metrics Changes - The global production forecast for hybrid vehicles has significantly increased, with expectations raised by nearly 4 million units for 2030 and nearly 7 million units for 2035 [23][24] - The hybrid vehicle trend is expected to drive higher average content per vehicle, benefiting the company's fluid business [24][26] Company Strategy and Development Direction - The company is focused on driving profitable growth through sustainable technologies that enhance vehicle efficiency and reduce carbon footprint [22] - The strategic imperatives include innovation, operational efficiency, and corporate responsibility, aiming for double-digit adjusted EBITDA margins and returns on invested capital [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in mitigating the impact of tariffs and expects to recover the majority of costs associated with them [28][37] - The company anticipates that clarity around trade policies will improve by the end of the second quarter, allowing for a more meaningful update on full-year guidance [29] - Management remains optimistic about the ability to adapt to market conditions and expects continued support from customers [30][60] Other Important Information - The company was recognized as GM Supplier of the Year for the eighth consecutive year, reflecting its commitment to customer value [9] - The company aims to achieve carbon neutrality in Europe by 2040 and globally by 2050, highlighting its commitment to sustainability [12] Q&A Session Summary Question: Is the $2 million in duties and tariffs a timing issue? - Yes, it was a minor impact due to uncertainty about the implementation date, and the company expects to recover these costs [35][36] Question: Is the trajectory of hybrids coming at the expense of electric vehicles? - The increase in hybrid production is driven by consumer preference, and hybrids offer greater content opportunities for the company [40][41] Question: Is the company withdrawing guidance? - No, the company is maintaining its guidance and will provide updates after the second quarter [43][44] Question: What are the key assumptions for achieving a net leverage ratio of around two turns by the end of 2027? - The assumptions include normalized volume production, continued execution of cost reduction initiatives, and profitable growth [72][74]