Why Cooper-Standard Holdings Stock Plunged Today

Shares of Cooper-Standard (CPS -26.25%) fell 26.1% on Friday after the sealing and fluid-handling systems company announced disappointing quarterly results.Cooper Standard grew despite headwindsFor its fourth-quarter 2023, Cooper Standard's revenue grew 3.7% year over year to $673.6 million, translating to an adjusted (non-GAAP) net loss of$31.1 million, or $1.79 per share. By comparison, most analysts expected a much narrower net loss of$0.79 per share on revenue closer to $693 million.Trending toward th ...