Financial Performance - Sales decreased to $613 million from $669 million[10] - Gross profit significantly declined to $21.5 million from $68.3 million[10] - Gross profit margin decreased to 3.5% from 10.2%[10] - Adjusted EBITDA decreased to $0.1 million from $38.5 million[10] - Adjusted EBITDA margin decreased to approximately 0% from 5.8%[10] - Net loss increased to $61.4 million from $33.9 million[10] - Adjusted net loss increased to $51.4 million from $14.5 million[10] Liquidity - Free cash flow was negative $44.5 million, compared to negative $45.7 million[14]

PART I. FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Unaudited Q1 2022 financial statements show decreased sales, widened net loss, and negative operating cash flow [Condensed Consolidated Statements of Operations](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2022 vs Q1 2021 Statement of Operations (in thousands, except per share data) | Metric | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Sales | $612,984 | $668,967 | | Gross Profit | $21,542 | $68,292 | | Operating Loss | $(40,394) | $(11,690) | | Net Loss Attributable to Cooper-Standard | $(61,360) | $(33,864) | | Diluted Loss Per Share | $(3.58) | $(2.00) | [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Balance Sheet Highlights (in thousands) | Metric | March 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | Cash and cash equivalents | $252,911 | $248,010 | | Total current assets | $1,093,850 | $994,897 | | Total assets | $2,283,136 | $2,226,493 | | Long-term debt | $979,922 | $980,604 | | Total liabilities | $2,012,356 | $1,895,133 | | Total equity | $270,780 | $331,360 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Q1 2022 vs Q1 2021 Cash Flows (in thousands) | Cash Flow Activity | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Net cash used in operating activities | $(12,213) | $(7,084) | | Net cash provided by (used in) investing activities | $20,071 | $(36,254) | | Net cash (used in) provided by financing activities | $(2,973) | $1,288 | | Change in cash, cash equivalents and restricted cash | $10,008 | $(36,692) | - The significant positive cash flow from investing activities in Q1 2022 was primarily driven by **$50.0 million** in proceeds from the deferred sale of fixed assets, related to a sale-leaseback transaction[20](index=20&type=chunk)[42](index=42&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) - In Q1 2022, a joint venture in the Asia Pacific region was deconsolidated and is now accounted for as an equity method investment, resulting in a loss of **$2.3 million**[24](index=24&type=chunk) Revenue by Product Line (Q1 2022 vs Q1 2021, in thousands) | Product Line | Q1 2022 Revenue | Q1 2021 Revenue | | :--- | :--- | :--- | | Sealing systems | $311,832 | $331,483 | | Fuel and brake delivery systems | $153,067 | $174,680 | | Fluid transfer systems | $113,681 | $128,360 | - Restructuring charges for Q1 2022 were **$7.8 million**, a decrease from **$21.0 million** in Q1 2021, with the majority of current charges occurring in Europe[36](index=36&type=chunk) - As of March 31, 2022, total debt was approximately **$1.03 billion**, consisting mainly of Senior Notes, Senior Secured Notes, and a Term Loan[47](index=47&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=24&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) MD&A attributes Q1 2022 sales decline to production issues and FX, with gross profit sharply down due to inflation [Recent Trends and Conditions](index=24&type=section&id=Recent%20Trends%20and%20Conditions) - The company's performance is being impacted by significant global economic uncertainty, including inflation, supply chain disruptions (semiconductor shortages, Russia-Ukraine crisis), and lingering effects of the COVID-19 pandemic[84](index=84&type=chunk)[86](index=86&type=chunk) Light Vehicle Production Change (Q1 2022 vs Q1 2021) | Region | % Change | | :--- | :--- | | North America | (1.8)% | | Europe | (18.3)% | | Asia Pacific | 0.2% | | South America | (12.7)% | [Results of Operations](index=26&type=section&id=Results%20of%20Operations) Sales Variance Analysis (Q1 2022 vs Q1 2021, in thousands) | Metric | Amount | | :--- | :--- | | 2021 Sales | $668,967 | | Volume / Mix | $(37,454) | | Foreign Exchange | $(10,059) | | Deconsolidation | $(8,470) | | 2022 Sales | $612,984 | - Gross profit decreased by **$46.8 million** year-over-year, primarily driven by commodity and wage inflation, unfavorable volume/mix, and foreign exchange[92](index=92&type=chunk) - Restructuring charges decreased by **$13.2 million** compared to Q1 2021, mainly due to lower charges in Europe[92](index=92&type=chunk) [Segment Results of Operations](index=28&type=section&id=Segment%20Results%20of%20Operations) Segment Sales (Q1 2022 vs Q1 2021, in thousands) | Segment | Q1 2022 Sales | Q1 2021 Sales | Change | | :--- | :--- | :--- | :--- | | North America | $321,894 | $339,036 | $(17,142) | | Europe | $131,414 | $165,776 | $(34,362) | | Asia Pacific | $103,753 | $114,225 | $(10,472) | | South America | $21,519 | $15,486 | $6,033 | Segment Adjusted EBITDA (Q1 2022 vs Q1 2021, in thousands) | Segment | Q1 2022 Adj. EBITDA | Q1 2021 Adj. EBITDA | Change | | :--- | :--- | :--- | :--- | | North America | $17,496 | $41,233 | $(23,737) | | Europe | $(14,657) | $(1,489) | $(13,168) | | Asia Pacific | $(742) | $3,552 | $(4,294) | | South America | $(409) | $(2,608) | $2,199 | | Consolidated | $145 | $38,540 | $(38,395) | [Liquidity and Capital Resources](index=29&type=section&id=Liquidity%20and%20Capital%20Resources) - The company believes cash from operations, cash on hand, and borrowings under its ABL Facility will be sufficient to meet funding requirements for the next twelve months[97](index=97&type=chunk) - Capital expenditures for the full year 2022 are anticipated to be between **$90 million** and **$100 million**[98](index=98&type=chunk) - As of March 31, 2022, the company had approximately **$98.7 million** of authorization remaining under its common stock repurchase program[99](index=99&type=chunk) [Non-GAAP Financial Measures](index=30&type=section&id=Non-GAAP%20Financial%20Measures) Reconciliation of Net Loss to Adjusted EBITDA (in thousands) | Line Item | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Net loss attributable to Cooper-Standard | $(61,360) | $(33,864) | | Income tax expense | $652 | $936 | | Interest expense, net | $18,177 | $17,784 | | Depreciation and amortization | $32,133 | $33,528 | | **EBITDA** | **$(10,398)** | **$18,384** | | Restructuring charges | $7,831 | $21,047 | | Deconsolidation of joint venture | $2,257 | — | | Impairment charges | $455 | — | | Gain on sale of business, net | — | $(891) | | **Adjusted EBITDA** | **$145** | **$38,540** | [Quantitative and Qualitative Disclosures About Market Risk](index=32&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes to the company's quantitative and qualitative market risk disclosures since the 2021 Annual Report - There have been no material changes to the Company's market risk disclosures since the 2021 Annual Report[108](index=108&type=chunk) [Controls and Procedures](index=33&type=section&id=Item%204.%20Controls%20and%20Procedures) CEO and CFO concluded disclosure controls were effective as of March 31, 2022, with no material changes to internal controls - The CEO and CFO concluded that the Company's disclosure controls and procedures were effective as of the end of the period covered by the report[110](index=110&type=chunk) - There were no material changes in the Company's internal control over financial reporting during the quarter ended March 31, 2022[111](index=111&type=chunk) PART II. OTHER INFORMATION [Unregistered Sales of Equity Securities and Use of Proceeds](index=34&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Details common stock repurchase program, including remaining authorization and shares repurchased for employee tax obligations - As of March 31, 2022, approximately **$98.7 million** of repurchase authorization remained under the company's common stock share repurchase program[114](index=114&type=chunk) Share Repurchases in Q1 2022 | Period | Total Number of Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | January 2022 | 1,310 | $22.41 | | February 2022 | 29,777 | $16.88 | | March 2022 | — | — | | **Total** | **31,087** | **N/A** | [Exhibits](index=35&type=section&id=Item%206.%20Exhibits) Lists exhibits filed with Form 10-Q, including management compensation agreements and required CEO/CFO certifications

Company Overview and Market Position - Cooper Standard holds leading market positions across its core product lines, including Sealing Systems, Fuel & Brake Delivery Systems, and Fluid Transfer Systems[6] - In 2021, Cooper Standard's revenue was $2.3 billion, including approximately $220 million from unconsolidated joint ventures[6] - The company's top 10 vehicle platforms account for approximately 40% of planned 2022 revenue, with an unweighted average content per vehicle (CPV) of approximately $155[11] Growth and Electric Vehicle Opportunities - Cooper Standard anticipates a CPS total sales growth of approximately 9% CAGR, expected to outpace industry projected growth[12] - The company projects approximately 50% CAGR in the EV segment, outpacing the market[16] - Electric vehicles offer a CPV growth opportunity of up to 20% compared to ICE vehicles[17] Strategic Diversification and Sustainability - The company is pursuing strategic diversification through its Advanced Technology Group, leveraging its expertise beyond the automotive industry[21, 22] - Cooper Standard is developing lightweight, recycled, and bio-based solutions to enhance its product portfolio and reduce its environmental footprint[20] Financial Position and Improvement Plan - The company has strong liquidity, with cash on hand and ABL availability sufficient to support operations and strategic initiatives[24] - Cooper Standard is targeting full recovery of material cost inflation through price negotiations and expanding index-based contracts[27] - The company is targeting a 15% reduction in above-the-plant labor costs through further global overhead and SGA&E rationalization[30]

Cooper-Standard Holdings Inc. (NYSE:CPS) Q4 2021 Earnings Conference Call February 16, 2022 9:00 AM ET Company Participants Jeff Edwards - Chairman and CEO Jon Banas - EVP and CFO Roger Hendriksen - Director, IR Conference Call Participants Kirk Ludtke - Imperial Capital LLC Mike Ward - Benchmark Brian DiRubbio - Robert W. Baird Steve Ferazani - Sidoti & Company Josh Taykowski - Credit Suisse Joseph Farricielli - Cantor Fitzgerald Doug Larson - Bank of America Operator Good morning, ladies and gentlemen, an ...

| --- | --- | |-------------------|-------| | | | | February 18, 2022 | | Agenda | --- | --- | |-------|----------------------------------------------------------------------------------------------------| | | | | | Introduction Roger Hendriksen \| Director, Investor Relations | | | 2021 Year in Review | | | Jeff Edwards \| Chairman and Chief Executive Officer | | | Financial Overview and Initial 2022 Guidance Jon Banas \| Executive VP and Chief Financial Officer | | | Strategic Business Overview and Outloo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-36127 COOPER-STANDARD HOLDINGS INC. (Exact name of registrant as specified in its charter) Delaware 20-1945088 (State or other jurisd ...

Cooper-Standard Holdings Inc. (NYSE:CPS) Q3 2021 Results Conference Call November 4, 2021 9:00 AM ET Company Participants Roger Hendriksen - Director, IR Jeff Edwards - Chairman and CEO Jon Banas - EVP and CFO Conference Call Participants Mike Ward - Benchmark Brian DiRubbio - Baird Joseph Farricielli - Cantor Fitzgerald Derrick Wenger - Concise Capital Bob Amenta - JP Morgan Josh Taykowski - Credit Suisse Patrick Sheffield - Beach Point Capital Chris Wang - Barclays Jared Weil - Deutsche Bank Operator Good ...

Financial Performance - Sales for the three months ended September 30, 2021, decreased by 22.9% to $526.69 million compared to $683.20 million in the same period of 2020, primarily due to lower vehicle production volumes impacted by semiconductor supply issues [102]. - The gross loss for the three months ended September 30, 2021, was $8.13 million, a decrease of $92.61 million compared to a gross profit of $84.49 million in the same period of 2020 [101]. - Operating loss for the three months ended September 30, 2021, was $72.89 million, compared to an operating profit of $18.79 million in the same period of 2020, reflecting a decline of $91.68 million [101]. - Net loss attributable to Cooper-Standard Holdings Inc. for the three months ended September 30, 2021, was $123.17 million, compared to a net income of $4.38 million in the same period of 2020, representing a decrease of $127.55 million [101]. - Total consolidated sales for Q3 2021 were $526.690 million, down $156.510 million or 23% from $683.200 million in Q3 2020 [111]. - Consolidated adjusted EBITDA for Q3 2021 was $(33.859) million, a decrease of $97.993 million from $64.134 million in Q3 2020 [116]. - Total Automotive sales for the nine months ended September 30, 2021, were $1.627 billion, an increase of $39.232 million or 2.5% from $1.588 billion in the same period of 2020 [115]. - Adjusted EBITDA for the nine months ended September 30, 2021, was $(10,045) thousand, compared to $(21,339) thousand for the same period in 2020, indicating an improvement in operating performance [126]. - The company reported a net loss attributable to Cooper-Standard Holdings Inc. of $(220,648) thousand for the nine months ended September 30, 2021, compared to a net loss of $(240,426) thousand for the same period in 2020 [126]. Production and Sales Trends - Light vehicle production in North America decreased by 25.2% to 3.0 million units for the three months ended September 30, 2021, compared to 4.0 million units in the same period of 2020 [99]. - North America sales decreased by $88.415 million to $270.592 million in Q3 2021 compared to Q3 2020, a decline of approximately 24.6% [111]. - Europe sales fell by $47.347 million to $98.682 million in Q3 2021 compared to Q3 2020, a decrease of about 32.4% [111]. - Asia Pacific sales decreased by $21.537 million to $109.526 million in Q3 2021 compared to Q3 2020, a decline of approximately 16.4% [111]. - For the nine months ended September 30, 2021, North America sales increased by $37.008 million to $857.153 million compared to $820.145 million in the same period of 2020, a rise of approximately 4.5% [115]. Costs and Expenses - Gross profit for the nine months ended September 30, 2021 decreased by 11.9% to $59.2 million, compared to $67.3 million for the same period in 2020 [109]. - Selling, administration, and engineering expense for the nine months ended September 30, 2021 was 9.7% of sales, down from 11.9% for the same period in 2020 [109]. - Net interest expense for the nine months ended September 30, 2021 increased by $13.2 million compared to the same period in 2020, primarily due to a full nine months of interest expense for Senior Secured Notes issued in May 2020 [109]. - Cost of products sold for the nine months ended September 30, 2021 was $1,669.6 million, an increase of $58.3 million compared to $1,611.3 million for the same period in 2020 [107]. - Restructuring charges for the nine months ended September 30, 2021 increased by $11.0 million compared to the same period in 2020, driven by higher charges in Europe [109]. - Impairment charges for the nine months ended September 30, 2021 were $1.8 million, related to idle assets, compared to $87.7 million for the same period in 2020 [109]. Economic and Market Conditions - The company expects inflationary pressures on raw materials, including steel and aluminum, to impact results for the remainder of 2021 and into 2022 [98]. - The global economy is projected to grow by approximately 5.9% in 2021, with North America expected to see growth of around 6.0% [95]. - Unemployment in North America improved to below 5.0% in September 2021, contributing to increased consumer confidence and spending [95]. - The semiconductor supply issues have led to production slowdowns and stoppages, with expectations for improvement in production volumes beginning in the fourth quarter of 2021 [99]. - Forward-looking statements indicate potential risks including the impact of COVID-19, automotive sales contractions, and supply chain disruptions that may affect future performance [130]. Cash Flow and Capital Expenditures - Net cash used in operations was $111.5 million for the nine months ended September 30, 2021, compared to $26.5 million for the same period in 2020, primarily due to working capital outflows and reduced cash earnings [120]. - Net cash used in investing activities was $72.8 million for the nine months ended September 30, 2021, a decrease from $89.5 million in the same period of 2020, reflecting significant decreases in capital expenditures due to COVID-19 and supply chain issues [120]. - The company anticipates spending approximately $100 million on capital expenditures in 2021, continuing its initiative to reduce overall capital spending [120]. - The company continues to actively preserve cash and enhance liquidity, including decreasing capital expenditures, to meet ongoing funding requirements despite challenges from the COVID-19 pandemic [119]. - The company’s ability to fund working capital needs and comply with financial covenants depends on future operating performance and external factors such as raw material costs and overall automotive industry conditions [119]. - As of September 30, 2021, approximately $98.7 million of repurchase authorization remained under the common stock repurchase program approved in June 2018 [123]. - The company has not made any repurchases under the stock repurchase program during the nine months ended September 30, 2021, or 2020 [123].

Cooper-Standard Holdings Inc. (NYSE:CPS) Q2 2021 Earnings Conference Call August 5, 2021 9:00 AM ET Company Participants Roger Hendriksen - Director of Investor Relation Jeffrey Edwards - Chairman and Chief Executive Officer Jonathan Banas - Executive Vice President and Chief Financial Officer Conference Call Participants Michael Ward - The Benchmark Company, LLC Brian DiRubbio - Robert W. Baird & Co. Michael Cazayoux - KDP Investment Advisors, Inc. Josh Taykowski - Credit Suisse Chris Wang - Barclays Bank ...

| --- | --- | |-------------------------------------------|-------| | | | | Driving Value Through Culture, | | | Innovation and Results | | | Second Quarter 2021 Earnings Presentation | | | August 5, 2021 | | Agenda 1. Introduction Roger Hendriksen | Director, Investor Relations c | --- | --- | |-------|-----------------------------------------------------------------------------| | | | | | Second Quarter Summary Jeff Edwards \| Chairman and Chief Executive Officer | | | Financial Overview Jon Banas \| Exec ...