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)

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 [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 [15] - Net income for the first quarter of 2025 was $1.6 million, a significant improvement from a net loss of $31.7 million in the first quarter of 2024 [16] Business Line Data and Key Metrics Changes - The company achieved $20 million in savings through lean initiatives and $8 million from restructuring efforts in the first quarter [8][9] - The company awarded $55 million in net new business during the first quarter, indicating strong demand for its products [9] Market Data and Key Metrics Changes - The global production forecast for hybrid vehicles has increased significantly, with expectations raised by nearly 4 million units for 2030 and nearly 7 million units for 2035 [24] - The hybrid vehicle trend is expected to drive higher average content per vehicle, benefiting the company's fluid business [25] Company Strategy and Development Direction - The company is focused on four key strategic imperatives aimed at improving operational efficiency and profitability, with a goal to return to double-digit adjusted EBITDA margins [20][21] - Sustainable technologies are a priority, with efforts to reduce weight and improve vehicle efficiency, aligning with customer demands for hybrid and electric vehicles [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to manage tariff impacts and recover costs, indicating robust systems in place for analysis [28][37] - The company remains optimistic about maintaining margins and profitability, with expectations for further growth as new programs and products are launched [30] Other Important Information - The company was recognized as GM Supplier of the Year for the eighth consecutive year, reflecting strong customer relationships and operational performance [10] - The company aims to achieve carbon neutrality by 2040 in Europe and by 2050 globally, highlighting its commitment to sustainability [13] 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? - Consumers seem to prefer hybrids over ICE and EVs, leading to increased content per vehicle for hybrids [40][41] Question: Is the company withdrawing guidance? - No, the company is not withdrawing guidance and expects to have a clearer view by the end of the second quarter [42][43] Question: What are the key assumptions for reaching a net leverage ratio of around two turns by the end of 2027? - The assumptions include no refinancing activity, normalization of volume production, and continued execution of profitable growth initiatives [72] Question: Is the guidance still for adjusted EBITDA at the low and high end of February? - Yes, the guidance remains unchanged [75]

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]

Financial Performance - Q1 2025 - Sales reached $667.1 million, a slight decrease compared to $676.4 million in Q1 2024[19] - Gross profit increased to $77.2 million with a margin of 11.6%, compared to $61.6 million with a margin of 9.1% in Q1 2024[19] - Adjusted EBITDA was $58.7 million with a margin of 8.8%, significantly higher than $29.3 million with a margin of 4.3% in Q1 2024[19] - Net income was $1.6 million, a substantial improvement from a net loss of $31.7 million in Q1 2024[19] - Adjusted net income was $3.5 million, compared to a loss of $30.6 million in Q1 2024[19] Liquidity and Cash Flow - Net cash used in operating activities was $14.9 million, slightly more than the $14.2 million used in Q1 2024[24] - Capital expenditures totaled $17.5 million, compared to $16.8 million in Q1 2024[24] - Free cash flow was negative $32.4 million, compared to negative $31.0 million in Q1 2024[24] Operational Highlights - The company achieved world-class quality with 99% green customer scorecards and 97% green launch scorecards[9, 10] - Lean savings in manufacturing and purchasing amounted to $20 million[11] - Cost initiative savings totaled $8 million[11] - Net new business awards reached $55 million[11]

Financial Performance - Sales for Q1 2025 were $667.1 million, a decrease of 1.4% compared to $676.4 million in Q1 2024, primarily due to foreign exchange headwinds [5]. - Net income for Q1 2025 was $1.6 million, a significant improvement of $33.3 million from a net loss of $31.7 million in Q1 2024 [6]. - Adjusted net income for Q1 2025 was $3.5 million, compared to an adjusted net loss of $30.6 million in Q1 2024, marking an increase of $34.1 million [6]. - Adjusted EBITDA for Q1 2025 was $58.7 million, representing an increase of $29.4 million from $29.3 million in Q1 2024, which is 8.8% of sales [7][8]. - Gross profit for Q1 2025 was $77.2 million, an increase of 25.2% compared to Q1 2024 [7]. - Operating income for Q1 2025 was $22.3 million, an increase of 539.2% compared to Q1 2024 [7]. - Operating income significantly improved to $22.264 million compared to $3.483 million in the prior year, reflecting a substantial operational turnaround [26]. - Adjusted EBITDA for the quarter was $58.715 million, representing an increase of 99.5% from $29.348 million in the prior year [33]. - Adjusted net income for the quarter was $3.454 million, compared to a loss of $30.602 million in the same period last year [34]. - Basic and diluted earnings per share were both $0.09, a significant improvement from a loss of $1.81 per share in the previous year [34]. Liquidity and Cash Flow - As of March 31, 2025, cash and cash equivalents totaled $140.4 million, with total liquidity of $300.1 million [15]. - Total current assets increased to $879.245 million, up from $805.256 million at the end of 2024, indicating improved liquidity [28]. - Cash and cash equivalents at the end of the period were $140.368 million, down from $170.035 million at the end of 2024 [30]. - Free cash flow for Q1 2025 was $(32,394) thousand, compared to $(31,033) thousand in Q1 2024, reflecting a year-over-year increase in cash outflow [37]. - Net cash used in operating activities for Q1 2025 was $(14,851) thousand, compared to $(14,199) thousand in Q1 2024, indicating a slight increase in operational cash outflow [37]. - Capital expenditures for Q1 2025 totaled $(17,543) thousand, up from $(16,834) thousand in Q1 2024, showing an increase in investment spending [37]. Business Outlook and Strategy - The company received net new business awards totaling $55.0 million in anticipated future annualized sales, primarily related to battery electric and hybrid vehicle platforms [10]. - The company expects to manage through trade-related uncertainties and believes underlying demand for new light vehicle production remains strong [17]. - The company is focused on improving operating efficiencies and driving innovation despite current market turbulence [4]. Debt Management - Total liabilities rose to $1.922 billion from $1.866 billion, reflecting ongoing debt management strategies [28].

NORTHVILLE, Mich., May 1, 2025 /PRNewswire/ -- Cooper-Standard Holdings Inc. (NYSE: CPS) today reported results for the first quarter 2025.First Quarter 2025 Highlights Gross profit of $77.2 million, an increase of 25.2% vs. the first quarter of 2024 Operating income of $22.3 million, an increase of 539.2% vs. the first quarter of 2024 Net income of $1.6 million, or $0.09 per diluted share, an increase of $33.2 million vs. the first quarter of 2024 Adjusted net income of $3.5 million, or $0.19 per diluted s ...

NORTHVILLE, Mich., April 28, 2025 /PRNewswire/ -- Cooper Standard (NYSE: CPS) has been named to USA TODAY's list of America's Climate Leaders 2025. This prestigious award is presented by USA TODAY and Statista, the world-leading statistics portal and industry ranking provider. The award list was announced on April 22 and can be viewed on usatoday.com. Cooper Standard, headquartered in Northville, Mich., with locations in 20 countries, is a leading global supplier of sealing and fluid handling systems and co ...

NORTHVILLE, Mich., April 25, 2025 /PRNewswire/ -- Cooper Standard (NYSE: CPS) is pleased to announce that its new eCoFlow™ Switch Pump technology was named a 2025 Automotive News PACE Pilot Award winner in a ceremony held on April 15th. This prestigious award recognizes "Innovations to Watch" in the post-pilot and pre-commercial automotive and future mobility space. Cooper Standard Receives 2025 Automotive News PACE Pilot Recognition Cooper Standard's eCoFlow™ Switch Pump, created in partnership with Sa ...

Company Overview - Canadian Premium Sand Inc. is developing North American manufacturing capacity for ultra-high-clarity pattern solar glass through multiple facilities, utilizing high-purity low-iron silica sand from its wholly owned Wanipigow quarry leases [3] Share Options Grant - The Company granted 75,000 share options to the Chief Financial Officer, exercisable at $0.23 per common share, expiring on April 21, 2030 [2] - As of the announcement date, there are 92,627,156 common shares issued and outstanding, allowing for a maximum of 9,262,716 options and other share-based awards under the Plan, of which 6,277,000 options have already been granted [2] Manufacturing Capacity - The proposed low-carbon facility in Selkirk, Manitoba aims to utilize renewable Manitoba hydroelectricity, with the potential to produce 6GW of low-carbon solar glass annually [4] - A planned facility in the U.S. could produce an additional 4GW of domestic solar glass, leading to a total proposed manufacturing capacity of 10GW annually, positioning the Company as a potential largest and preferred supplier in North America [4]

Core Points - General Motors awarded Cooper Standard the 2024 Supplier of the Year Award, marking the eighth consecutive year the company has received this recognition [1][2] - The award highlights Cooper Standard's commitment to world-class service and exceptional quality, which aligns with the evolving needs of the mobility industry [2] - GM's Supplier of the Year awards recognize suppliers based on performance in categories such as safety, innovation, and resilience, as well as alignment with GM's core values [2][3] Company Overview - Cooper Standard is a leading global supplier of sealing and fluid handling systems, headquartered in Northville, Michigan, with operations in 20 countries [4] - The company employs approximately 22,000 team members, focusing on continuous improvement and innovation in engineering and manufacturing [4] - Cooper Standard aims to provide sustainable engineered solutions for diverse transportation and industrial markets [4] Industry Context - General Motors is advancing the future of transportation by leveraging technology to produce safer, smarter, and lower-emission vehicles, including a wide range of electric vehicles [5] - The recognition of suppliers like Cooper Standard is part of GM's strategy to enhance innovation and resilience in the automotive supply chain [3]