Cooper Standard Reports Third Quarter Results; Continuing Lean Initiatives Delivering Cost Savings as Planned NORTHVILLE, Mich., October 31, 2024 -- Cooper-Standard Holdings Inc. (NYSE: CPS) today reported results for the third quarter 2024. Third Quarter 2024 Summary • Savings of $24.5 million realized from lean operations and cost initiatives • Net loss of $11.1 million, or $(0.63) per diluted share • Adjusted net loss of $12.0 million, or $(0.68) per diluted share • Adjusted EBITDA of $46.1 million, or 6 ...

Core Viewpoint - Cooper-Standard Holdings Inc. reported a net loss of $11.1 million for Q3 2024, driven by lower production volumes and unfavorable foreign exchange, despite achieving $24.5 million in cost savings from lean operations and cost initiatives [1][3][12]. Financial Performance - Sales for Q3 2024 were $685.4 million, down from $736.0 million in Q3 2023, primarily due to the timing of commercial settlements and lower production volumes [2][4]. - Adjusted net loss for Q3 2024 was $12.0 million, compared to an adjusted net income of $15.0 million in Q3 2023 [3][30]. - Adjusted EBITDA for Q3 2024 was $46.1 million, a decrease from $79.1 million in Q3 2023, reflecting the impact of lower sales and unfavorable foreign exchange [4][28]. Cost Management and Operational Efficiency - The company realized $24.5 million in savings from lean operations and cost initiatives, which helped mitigate the impact of lower production volumes and unfavorable foreign exchange [1][3]. - Restructuring charges amounted to $1.5 million in Q3 2024, down from $2.0 million in Q3 2023, indicating ongoing efforts to streamline operations [3][30]. New Business Awards - Cooper-Standard secured net new business awards totaling $44.0 million in anticipated future annualized sales during Q3 2024, with significant contributions from battery electric vehicle platforms [6][12]. Cash and Liquidity - As of September 30, 2024, the company had cash and cash equivalents of $107.7 million, with total liquidity of $280.8 million [10][11]. - The company believes it has sufficient financial resources to support ongoing operations and strategic initiatives [11]. Industry Outlook - The company anticipates continued headwinds from inflation and unfavorable foreign exchange, but expects that savings from lean cost structure initiatives will improve profit margins and cash flow in Q4 2024 and into 2025 [12][13].

NORTHVILLE, Mich., Oct. 15, 2024 /PRNewswire/ -- Cooper-Standard Holdings Inc. (NYSE: CPS) expects to release its financial results for the third quarter 2024 on Thursday, October 31 after market close. The Company's earnings results will be posted to the Cooper Standard website (https://ir.cooperstandard.com/) once released. Cooper Standard will host a conference call on Friday, November 1 at 9 a.m. ET. The Company's Chairman and Chief Executive Officer Jeffrey Edwards and Chief Financial Officer Jonathan ...

Group 1 - The investor has a deep value investment approach, focusing on a 50%-50% allocation between shares and call options [1] - The investment strategy is contrarian and involves high risk, often dealing with illiquid options [1] - The investor prefers stocks that have recently experienced sell-offs due to non-recurrent events, especially when insiders are buying shares at lower prices [1] Group 2 - Fundamental analysis is employed to assess the health of companies, their leverage, and to compare financial ratios with sector and industry averages [1] - Professional background checks are conducted on insiders who purchased shares after sell-offs [1] - Technical analysis is used to optimize entry and exit points, utilizing multicolor lines for support and resistance levels on weekly charts [1]

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA CALGARY, Alberta, Aug. 30, 2024 (GLOBE NEWSWIRE) -- Canadian Premium Sand Inc. ("CPS" or the "Company") (TSXV: CPS) is pleased to announce that further to its August 23, 2024 news release its application to extend the expiry date of an aggregate of 26,494,908 warrants (the "Warrants") to purchase an aggregate of 26,494,908 common shares ("Common Shares") of the Company has been approved by TSX Venture Exchang ...

NORTHVILLE, Mich., Aug. 27, 2024 /PRNewswire/ -- Cooper Standard (NYSE: CPS) has been recognized as a 2025 Automotive News PACE Pilot Award finalist for two technologies – its eCoFlowTM Switch Pump and its FlexiCore™ Thermoplastic Body Door Seal. These innovations are two of 23 technologies recently named finalists in an annual competition that identifies and celebrates the latest game-changing innovations. Cooper Standard has been recognized as a 2025 Automotive News PACE Pilot Award finalist for two techn ...

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA CALGARY, Alberta, Aug. 23, 2024 (GLOBE NEWSWIRE) -- Canadian Premium Sand Inc. ("CPS" or the "Company") (TSXV: CPS) is pleased to announce that it intends to extend the expiry date of an aggregate of 26,494,908 warrants (the "Warrants") to purchase an aggregate of 26,494,908 common shares ("Common Shares") of the Company. The Warrants were issued pursuant to a private placement unit offering that closed Augus ...

Financial Data and Key Metrics Changes - Second quarter 2024 sales were $708.4 million, a slight decrease of 2.1% compared to the second quarter of 2023, primarily due to the divestiture of the Technical Rubber business and unfavorable foreign exchange [9][10] - Gross profit for the second quarter was $82.9 million, or 11.7% of sales, compared to $77.7 million, or 10.7% of sales in the second quarter of 2023, reflecting a 100 basis points improvement in gross profit margin [10][11] - Adjusted EBITDA in the quarter was $50.9 million, up from $47.9 million in the second quarter of last year, driven by lean savings and favorable volume and mix [10][11] - Net loss for the second quarter was $76.2 million, compared to a net loss of $27.8 million in the second quarter of 2023, impacted by a non-cash charge related to the pension plan termination [11][12] Business Line Data and Key Metrics Changes - The company achieved $16 million in savings through lean initiatives and cost-saving programs during the second quarter [6] - The company was awarded $61 million in net new business awards in the second quarter, indicating strong demand for its products [6][7] Market Data and Key Metrics Changes - Global automotive production declined by 0.5%, while the company’s net sales, excluding divestitures and foreign exchange impacts, increased by approximately 1% [9][10] - The company continues to see strong opportunities in the EV segment, particularly with its Frameless Sealing Systems, which are expected to grow at a 30% CAGR over the next five years [21][24] Company Strategy and Development Direction - The company is focused on operational excellence, cost optimization, and sustainability, with a commitment to reducing energy consumption and developing sustainable products [6][7] - A new product line-based organization structure has been implemented to optimize costs and improve financial strength, with expected salary cost reductions of $20 million to $25 million in 2024 [18][19] - The company aims to achieve double-digit EBITDA margins and return on invested capital by the end of 2025, despite projected slow growth in global light vehicle production [19][28] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges from macroeconomic factors, including inflation, unfavorable foreign exchange, and reduced light vehicle production estimates [26][27] - Despite these challenges, management remains confident in the company’s operational performance and cost reduction initiatives, expecting improved profitability and cash flow in the second half of 2024 [27][28] Other Important Information - Cash used in operating activities was approximately $12 million in the second quarter, with a total liquidity of approximately $267 million as of June 30, 2024 [15][16] - The company plans to make cash interest payments on its notes in December 2024, which will impact its free cash flow outlook for the year [17][40] Q&A Session Summary Question: Have the restructuring actions been completed? - Most restructuring actions are in the final stages and are expected to yield significant savings in the second half of the year [29] Question: Is the current margin performance a trend towards double-digit rates? - The company is on track to achieve double-digit EBITDA margins and return on invested capital next year [30] Question: What is the expected cash flow for the year? - The company now expects slightly negative free cash flow due to cash interest payments, but operational performance remains strong [31][32] Question: What are the risks associated with current guidance? - Management is confident in their control over pricing and cost reductions, but acknowledges potential production cuts by manufacturers [44][45] Question: Any updates on the deployment of Fortrex? - The company continues to see positive results from Fortrex and anticipates it will contribute more significantly to the bottom line in the future [46]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ FORM 10-Q ___________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 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 Second Quarter Gross Profit Ramps Higher; Further Margin Expansion Expected in Second Half of the Year NORTHVILLE, Mich., August 1, 2024 -- Cooper-Standard Holdings Inc. (NYSE: CPS) today reported results for the second quarter 2024. Second Quarter 2024 Summary • Gross profit totaled $82.9 million, an increase of 6.7% compared to second quarter 2023 • Net loss of $76.2 million, or $(4.34) per diluted share, was negatively impacted by a one-time non-cash pension settlement charge and restruct ...