{"success":true,"data":{"pressRelease":{"id":"24289","rtpr_id":"nPn2gqqbMa","ticker":"CPS","exchange":"NYSE","all_tickers":["CPS"],"title":"Cooper Standard Reports Solid First Quarter 2026 Results and Strong New Business Awards; Remains on Track to Achieve or Exceed Full Year Plans","author":"PR Newswire","published_at":"2026-05-06T20:30:00.458Z","article_body":"Cooper Standard Reports Solid First Quarter 2026 Results and Strong New Business Awards; Remains on Track to Achieve or Exceed Full Year Plans\n\nPR Newswire\n\nNORTHVILLE, Mich., May 6, 2026\n\nNORTHVILLE, Mich., May 6, 2026 /PRNewswire/ -- Cooper-Standard Holdings Inc.\n(NYSE: CPS) today reported results for the first quarter 2026.\n\n(https://mma.prnewswire.com/media/2044542/Cooper_Standard_Logo_5_3_23_Logo.html)\n\nFirst Quarter 2026 Highlights\n\n * Sales of $686.4 million, an increase of 2.9% vs. the first quarter of 2025\n * Gross profit of $82.4 million, an increase of 6.8% vs. the first quarter of\n2025\n * Net loss of $33.3 million, or $(1.85) per diluted share, including loss on\nrefinancing of debt\n * Adjusted net loss of $5.2 million, or $(0.29) per diluted share\n * Adjusted EBITDA of $51.0 million, or 7.4% of sales\n * Net New Business Awards totaled $127.9 million during the quarter\n\"Our teams delivered results in the quarter that were consistent with our\nplans and expectations,\" said Jeffrey Edwards, chairman and CEO, Cooper\nStandard. \"By maintaining focus on operational excellence and our strategic\nexecution, we are effectively managing current market dynamics and believe we\nare on track to achieve or exceed our sales and profitability targets for the\nfull year.\"\n\nConsolidated Results\n Three Months Ended March 31,\n 2026 2025\n (Dollar amounts in millions except\n per share amounts)\n Sales $ 686.4 $ 667.1\n Net (loss) income $ (33.3) $ 1.6\n Adjusted net (loss) income* $ (5.2) $ 3.5\n Net (loss) income per diluted share $ (1.85) $ 0.09\n Adjusted net (loss) income per diluted share* $ (0.29) $ 0.19\n Adjusted EBITDA* $ 51.0 $ 58.7\n\n *Adjusted net (loss) income, adjusted EBITDA, and adjusted net (loss) income\n per diluted share are non-GAAP measures. Reconciliations to the most directly\n comparable financial measures, calculated and presented in accordance with\n accounting principles generally accepted in the United States (\"U.S. GAAP\"),\n are provided in the attached supplemental schedules.\n\nSales increased by 2.9% in the first quarter due primarily to favorable\nforeign exchange, partially offset by unfavorable volume and mix.\n\nNet loss for the first quarter of 2026 was $33.3 million, including\nrestructuring charges of $4.6 million, a loss of $24.2 million related to the\nsuccessful debt refinancing completed during the quarter, and other special\nitems. Net income for the first quarter of 2025 was $1.6 million, including\nrestructuring charges of $2.1 million and other special items. Excluding these\nspecial items and their related tax impact, adjusted net loss was $5.2 million\nin the first quarter of 2026 compared to adjusted net income of $3.5 million\nin the first quarter of 2025. The year-over-year change was primarily due to\nunfavorable volume and mix, the non-recurrence of certain royalty payments\nreceived in the first quarter of 2025, and general cost inflation, partially\noffset by cost savings from increased manufacturing and purchasing efficiency.\n\nAdjusted EBITDA for the first quarter of 2026 was $51.0 million compared to\n$58.7 million in the first quarter of 2025. The year-over-year change was\nprimarily driven by unfavorable volume and mix, the non-recurrence of certain\nroyalty payments received in the first quarter of 2025, and general cost\ninflation, partially offset by increased manufacturing and purchasing\nefficiency.\n\nNew Business Awards\n\nThe Company continues to leverage its world-class engineering and\nmanufacturing capabilities, its innovation programs and its reputation for\nquality and service to win new business awards with its OEM customers and\ncapitalize on positive global trends associated with hybrid and battery\nelectric vehicles. During the first quarter of 2026, the Company received net\nnew business awards totaling $127.9 million in anticipated incremental future\nannualized sales, including $31.8 million in new awards associated with\nbattery electric or full-hybrid platforms.\n\nSegment Results of Operations\n\nSales\n Three Months Ended March 31, Variance Due To:\n 2026 2025 Change Volume/Mix* Foreign\n Exchange\n (Dollar amounts in thousands)\n Sales to external customers\n Sealing systems $ 348,303 $ 344,311 $ 3,992 $ (14,560) $ 18,552\n Fluid handling systems 317,946 303,998 13,948 8,507 5,441\n\n * Net of customer price adjustments, including recoveries.\n\nAdjusted EBITDA\n Three Months Ended March 31, Variance Due To:\n 2026 2025 Change Volume/Mix* Foreign Cost Decreases/\n Exchange (Increases)**\n (Dollar amounts in thousands)\n Segment adjusted EBITDA\n Sealing systems $ 29,951 $ 32,312 $ (2,361) $ (9,799) $ 368 $ 7,070\n Fluid handling systems 23,455 20,982 2,473 2,544 (4,619) 4,548\n\n * Net of customer price adjustments, including recoveries.\n ** Net of savings from restructuring initiatives.\n\nAdditional detail on our quarterly segment variance analyses is available in\nour periodic filings with the Securities and Exchange Commission.\n\nCash and Liquidity\n\nAs of March 31, 2026, following the successful refinancing transaction\ncompleted during the quarter, Cooper Standard had cash and cash equivalents\ntotaling $118.5 million. Total liquidity, including availability under the\nCompany's amended senior asset-based revolving credit facility, was $285.8\nmillion at the end of the first quarter of 2026. Based on current expectations\nfor light vehicle production and customer demand for our products, the Company\nbelieves it has sufficient financial resources to support ongoing operations\nand the execution of planned strategic initiatives for the foreseeable future.\nThese financial resources include current cash on hand, continuing access to\nflexible credit facilities, and expected future positive cash generation.\n\nOutlook\n\nThe Company believes it is well positioned to continue driving sustainable\nvalue through profitable growth and margin enhancement. While customer supply\nchain disruptions, changing trade and tariff policies, geopolitical issues and\naffordability concerns have impacted and may continue to impact production\nforecasts, the Company believes that the underlying demand for new light\nvehicle production in its key operating regions remains strong, supported by\nthe age of the existing fleet, increasing population, increasing numbers of\nnewly licensed drivers, and declining vehicle inventories. The Company remains\nconfident that the continuing successful execution of its plans and\nstrategies, including expanding relationships with new customers and the\ncontinued launch of new, innovative programs with enhanced contribution\nmargins and enhanced index-based commercial agreements, will drive increasing\nprofit margins and returns on invested capital over time as markets stabilize.\n\nFollowing strong actual results in the first three months of the year, the\nCompany believes it is on track to achieve or exceed the targeted ranges for\nsales and profitability as outlined in its formal guidance for 2026 issued in\nFebruary. The Company expects to provide a formal update to its full year\nguidance in conjunction with the release of its second quarter 2026 results.\n\nConference Call Details\n\nCooper Standard management will host a conference call and webcast on May 7,\n2026 at 9 a.m. ET to discuss its first quarter 2026 results, provide a general\nbusiness update and respond to investor questions. Investors and other\ninterested parties may listen to the call by accessing the online, real-time\nwebcast at https://ir.cooperstandard.com/events\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4682490-1&h=4212121603&u=https%3A%2F%2Fir.cooperstandard.com%2Fevents&a=https%3A%2F%2Fir.cooperstandard.com%2Fevents)\n.\n\nTo participate by phone, callers in the United States and Canada can dial\ntoll-free at 800-836-8184 (international callers dial 646-357-8785) and ask to\nbe connected to the Cooper Standard conference call. Representatives of the\ninvestment community will have the opportunity to ask questions during\nQ&A. Participants should dial-in at least five minutes prior to the start\nof the call.\n\nA replay of the webcast will be available on the investors' portion of the\nCooper Standard website (https://ir.cooperstandard.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4682490-1&h=3846734043&u=https%3A%2F%2Fir.cooperstandard.com%2F&a=https%3A%2F%2Fir.cooperstandard.com)\n) shortly after the live event.\n\nAbout Cooper Standard\n\nCooper Standard, headquartered in Northville, Mich., with locations in 20\ncountries, is a leading global supplier of sealing and fluid handling systems\nand components. Utilizing our materials science and manufacturing expertise,\nwe create innovative and sustainable engineered solutions for diverse\ntransportation and industrial markets. Cooper Standard's approximately 22,000\nteam members (including contingent workers) are at the heart of our success,\ncontinuously improving our business and surrounding communities. Learn more at\nwww.cooperstandard.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4682490-1&h=3268793572&u=https%3A%2F%2Fwww.cooperstandard.com%2F&a=www.cooperstandard.com)\nor follow us on LinkedIn\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4682490-1&h=4047110249&u=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fcooper-standard-automotive%2Fposts%2F%3FfeedView%3Dall&a=LinkedIn)\n, X\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4682490-1&h=2324330882&u=https%3A%2F%2Fx.com%2FCooperStandard&a=X)\n, Facebook\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4682490-1&h=3760160772&u=https%3A%2F%2Fwww.facebook.com%2FCooperStandardOfficial%2F&a=Facebook)\n,\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4682490-1&h=998237791&u=https%3A%2F%2Fwww.facebook.com%2FCooperStandardOfficial%2F&a=%2C)\nInstagram\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4682490-1&h=2118082029&u=https%3A%2F%2Fwww.instagram.com%2Fcooperstandard_official%2F&a=Instagram)\nor YouTube\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4682490-1&h=2045722933&u=https%3A%2F%2Fwww.youtube.com%2Fchannel%2FUC5TyOABNLDwUvt1XIM4MXmQ&a=YouTube)\n.\n\nForward Looking Statements\n\nThis press release includes \"forward-looking statements\" within the meaning of\nU.S. federal securities laws, and we intend that such forward-looking\nstatements be subject to the safe harbor created thereby. Our use of words\n\"estimate,\" \"expect,\" \"anticipate,\" \"project,\" \"plan,\" \"intend,\" \"believe,\"\n\"outlook,\" \"guidance,\" \"forecast,\" or future or conditional verbs, such as\n\"will,\" \"should,\" \"could,\" \"would,\" or \"may,\" and variations of such words or\nsimilar expressions are intended to identify forward-looking statements. All\nforward-looking statements are based upon our current expectations and various\nassumptions. Our expectations, beliefs, and projections are expressed in good\nfaith and we believe there is a reasonable basis for them. However, we cannot\nassure you that these expectations, beliefs and projections will be achieved.\nForward-looking statements are not guarantees of future performance and are\nsubject to significant risks and uncertainties that may cause actual results\nor achievements to be materially different from the future results or\nachievements expressed or implied by the forward-looking statements. Among\nother items, such factors may include: volatility or decline of the Company's\nstock price, or absence of stock price appreciation; impacts and disruptions\nrelated to the wars in Ukraine and the Middle East; our ability to achieve\ncommercial recoveries and to offset the adverse impact of higher commodity and\nother costs through pricing and other negotiations with our customers; work\nstoppages or other labor disruptions with our employees or our customers'\nemployees; prolonged or material contractions in automotive sales and\nproduction volumes; our inability to realize sales represented by awarded\nbusiness; escalating pricing pressures; loss of large customers or significant\nplatforms; our ability to successfully compete in the automotive parts\nindustry; availability and increasing volatility in costs of manufactured\ncomponents and raw materials; disruptions in our supply base or our customers'\nsupply base; competitive threats and commercial risks associated with our\ndiversification strategy; possible variability of our working capital\nrequirements; risks associated with our international operations, including\nchanges in laws, regulations, and policies governing the terms of foreign\ntrade such as increased trade restrictions and tariffs; foreign currency\nexchange rate fluctuations; the effects of a potential U.S. government\nshutdown and its impact on our customers; our ability to control the\noperations of our joint ventures for our sole benefit; our substantial amount\nof indebtedness and rates of interest; our ability to obtain adequate\nfinancing sources in the future; operating and financial restrictions imposed\non us under our debt instruments; the underfunding of our pension plans;\nsignificant changes in discount rates and the actual return on pension assets;\neffectiveness of continuous improvement programs and other cost savings plans;\nsignificant costs related to manufacturing facility closings or consolidation;\nour ability to execute new program launches; our ability to meet customers'\nneeds for new and improved products; the possibility that our acquisitions and\ndivestitures may not be successful; product liability, warranty and recall\nclaims brought against us; laws and regulations, including environmental,\nhealth and safety laws and regulations; legal and regulatory proceedings,\nclaims or investigations against us; the potential impact of any future public\nhealth events on our financial condition and results of operations; the\nability of our intellectual property to withstand legal challenges;\ncyber-attacks, data privacy concerns, other disruptions in, or the inability\nto implement upgrades to, our information technology systems; the possible\nvolatility of our annual effective tax rate; the possibility of a failure to\nmaintain effective controls and procedures; the possibility of future\nimpairment charges to our goodwill and long-lived assets; our ability to\nidentify, attract, develop and retain a skilled, engaged and diverse\nworkforce; our ability to procure insurance at reasonable rates; and our\ndependence on our subsidiaries for cash to satisfy our obligations.; and other\nrisks and uncertainties, including those detailed from time to time in the\nCompany's periodic reports filed with the Securities and Exchange Commission.\n\nYou should not place undue reliance on these forward-looking statements. Our\nforward-looking statements speak only as of the date of this press release and\nwe undertake no obligation to publicly update or otherwise revise any\nforward-looking statement, whether as a result of new information, future\nevents or otherwise, except where we are expressly required to do so by law.\n\nThis press release also contains estimates and other information that is based\non industry publications, surveys and forecasts. This information involves a\nnumber of assumptions and limitations, and we have not independently verified\nthe accuracy or completeness of the information.\n Contact for Analysts: Contact for Media:\n Roger Hendriksen Chris Andrews\n Cooper Standard Cooper Standard\n (248) 596-6465 (248) 596-6217\n roger.hendriksen@cooperstandard.com candrews@cooperstandard.com (mailto:candrews@cooperstandard.com)\n (mailto:roger.hendriksen@cooperstandard.com)\n\nFinancial statements and related notes follow:\n COOPER-STANDARD HOLDINGS INC.\n CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS\n (Unaudited)\n (Dollar amounts in thousands except share and per share amounts)\n\n Three Months Ended March 31,\n 2026 2025\n Sales $ 686,359 $ 667,069\n Cost of products sold 603,941 589,891\n Gross profit 82,418 77,178\n Selling, administration & engineering expenses 52,505 51,191\n Amortization of intangibles 1,224 1,612\n Restructuring charges 4,632 2,111\n Operating income 24,057 22,264\n Interest expense, net of interest income (28,308) (28,619)\n Equity in earnings of affiliates 1,449 1,776\n Loss on refinancing and extinguishment of debt (24,155) —\n Other (expense) income, net (2,112) 8,884\n (Loss) income before income taxes (29,069) 4,305\n Income tax expense 4,197 2,703\n Net (loss) income (33,266) 1,602\n Net income attributable to noncontrolling interests (37) (50)\n Net (loss) income attributable to Cooper-Standard Holdings Inc. $ (33,303) $ 1,552\n\n Weighted average shares outstanding:\n Basic 17,969,620 17,712,568\n Diluted 17,969,620 17,911,855\n\n Net (loss) income per share:\n Basic $ (1.85) $ 0.09\n Diluted $ (1.85) $ 0.09\n\n \n COOPER-STANDARD HOLDINGS INC.\n CONDENSED CONSOLIDATED BALANCE SHEETS\n (Dollar amounts in thousands except share amounts)\n\n March 31, 2026 December 31, 2025\n (unaudited)\n Assets\n Current assets:\n Cash and cash equivalents $ 118,488 $ 191,699\n Accounts receivable, net 378,007 334,267\n Tooling receivable, net 74,876 72,316\n Inventories 185,004 154,189\n Prepaid expenses 23,830 23,940\n Value added tax receivable 41,103 47,329\n Other current assets 81,793 57,360\n Total current assets 903,101 881,100\n Property, plant and equipment, net 511,744 523,508\n Operating lease right-of-use assets, net 93,987 83,474\n Goodwill 140,609 140,696\n Intangible assets, net 27,851 28,978\n Other assets 175,762 175,418\n Total assets $ 1,853,054 $ 1,833,174\n\n Liabilities and Equity\n Current liabilities:\n Debt payable within one year $ 44,289 $ 86,121\n Accounts payable 364,770 337,319\n Payroll liabilities 104,189 122,395\n Accrued liabilities 112,673 114,150\n Current operating lease liabilities 18,715 18,412\n Total current liabilities 644,636 678,397\n Long-term debt 1,099,887 1,018,483\n Pension benefits 89,905 91,336\n Postretirement benefits other than pensions 25,845 26,461\n Long-term operating lease liabilities 80,340 69,806\n Other liabilities 35,925 40,268\n Total liabilities 1,976,538 1,924,751\n Equity:\n Common stock, $0.001 par value, 190,000,000 shares authorized; 19,821,093 18 17\n shares issued\n and 17,755,284 shares outstanding as of March 31, 2026, and 19,702,818 shares\n issued and\n 17,637,009 shares outstanding as of December 31, 2025\n Additional paid-in capital 523,887 524,312\n Retained deficit (508,030) (474,727)\n Accumulated other comprehensive loss (131,193) (133,090)\n Total Cooper-Standard Holdings Inc. equity (115,318) (83,488)\n Noncontrolling interests (8,166) (8,089)\n Total equity (123,484) (91,577)\n Total liabilities and equity $ 1,853,054 $ 1,833,174\n\n \n COOPER-STANDARD HOLDINGS INC.\n CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS\n (Unaudited)\n (Dollar amounts in thousands)\n\n Three Months Ended March 31,\n 2026 2025\n Operating activities:\n Net (loss) income $ (33,266) $ 1,602\n Adjustments to reconcile net (loss) income to net cash used in operating\n activities:\n Depreciation 21,796 22,216\n Amortization of intangibles 1,224 1,612\n Share-based compensation expense 2,610 2,199\n Equity in losses of affiliates, net of dividends related to earnings 588 193\n Loss on refinancing and extinguishment of debt 24,155 —\n Deferred income taxes 1,037 3,929\n Other 969 1,257\n Changes in operating assets and liabilities (88,267) (47,859)\n Net cash used in operating activities (69,154) (14,851)\n Investing activities:\n Capital expenditures (24,041) (17,543)\n Proceeds from sale of businesses — 2,377\n Other 4 12\n Net cash used in investing activities (24,037) (15,154)\n Financing activities:\n Proceeds from issuance of long-term debt, net of debt issuance costs 1,090,610 —\n Repayment of long-term debt (1,051,175) —\n Principal payments on long-term debt (523) (763)\n Debt issuance costs and other fees (19,529) —\n Taxes withheld and paid on employees' share-based payment awards (2,936) (1,678)\n Other (8) (22)\n Net cash provided by (used in) financing activities 16,439 (2,463)\n Effects of exchange rate changes on cash, cash equivalents and restricted cash (704) 2,121\n Changes in cash, cash equivalents and restricted cash (77,456) (30,347)\n Cash, cash equivalents and restricted cash at beginning of period 199,882 178,697\n Cash, cash equivalents and restricted cash at end of period $ 122,426 $ 148,350\n\n Reconciliation of cash, cash equivalents and restricted cash to the condensed\n consolidated balance sheets:\n Balance as of\n March 31, 2026 December 31, 2025\n Cash and cash equivalents $ 118,488 $ 191,699\n Restricted cash included in other current assets 2,882 6,581\n Restricted cash included in other assets 1,056 1,602\n Total cash, cash equivalents and restricted cash $ 122,426 $ 199,882\n\nNon-GAAP Financial Measures\n\nEBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss),\nadjusted earnings (loss) per share, and free cash flow are measures not\nrecognized under U.S. GAAP and which exclude certain non-cash and special\nitems that may obscure trends and operating performance not indicative of the\nCompany's core financial activities. Net new business is a measure not\nrecognized under U.S. GAAP which is a representation of potential incremental\nfuture revenue but which may not fully reflect all external impacts to future\nrevenue. Management considers EBITDA, adjusted EBITDA, adjusted EBITDA margin,\nadjusted net income (loss), adjusted earnings (loss) per share, free cash flow\nand net new business to be key indicators of the Company's operating\nperformance and believes that these and similar measures are widely used by\ninvestors, securities analysts and other interested parties in evaluating the\nCompany's performance. In addition, similar measures are utilized in the\ncalculation of the financial covenants and ratios contained in the Company's\nfinancing arrangements and management uses these measures for developing\ninternal budgets and forecasting purposes. EBITDA is defined as net income\n(loss) adjusted to reflect income tax expense (benefit), interest expense net\nof interest income, depreciation and amortization, and adjusted EBITDA is\ndefined as EBITDA further adjusted to reflect certain items that management\ndoes not consider to be reflective of the Company's core operating\nperformance. Adjusted net income (loss) is defined as net income (loss)\nadjusted to reflect certain items that management does not consider to be\nreflective of the Company's core operating performance. Adjusted EBITDA margin\nis defined as adjusted EBITDA as a percentage of sales. Adjusted basic and\ndiluted earnings (loss) per share is defined as adjusted net income (loss)\ndivided by the weighted average number of basic and diluted shares,\nrespectively, outstanding during the period. Free cash flow is defined as net\ncash provided by operating activities minus capital expenditures and is useful\nto both management and investors in evaluating the Company's ability to\nservice and repay its debt. Net new business reflects anticipated sales from\nformally awarded programs, less lost business, discontinued programs and\nreplacement programs and is based on S&P Global (IHS Markit) forecast\nproduction volumes. The calculation of \"net new business\" does not reflect\ncustomer price reductions on existing programs and may be impacted by various\nassumptions embedded in the respective calculation, including actual vehicle\nproduction levels on new programs, foreign exchange rates and the timing of\nmajor program launches.\n\nWhen analyzing the Company's operating performance, investors should use\nEBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss),\nadjusted earnings (loss) per share, free cash flow and net new business as\nsupplements to, and not as alternatives for, net income (loss), operating\nincome, or any other performance measure derived in accordance with U.S. GAAP.\nEBITDA, adjusted EBITDA, adjusted net income (loss), adjusted earnings (loss)\nper share, free cash flow and net new business have limitations as analytical\ntools and should not be considered in isolation or as substitutes for analysis\nof the Company's results of operations as reported under U.S. GAAP. Other\ncompanies may report EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted\nnet income (loss), adjusted earnings (loss) per share, free cash flow and net\nnew business differently and therefore the Company's results may not be\ncomparable to other similarly titled measures of other companies. In addition,\nin evaluating adjusted EBITDA and adjusted net income (loss), it should be\nnoted that in the future the Company may incur expenses similar to or in\nexcess of the adjustments in the below presentation. This presentation of\nadjusted EBITDA and adjusted net income (loss) should not be construed as an\ninference that the Company's future results will be unaffected by special\nitems. Reconciliations of EBITDA, adjusted EBITDA, adjusted EBITDA margin,\nadjusted net income (loss) and free cash flow follow.\n Reconciliation of Non-GAAP Financial Measures\n\nEBITDA and Adjusted EBITDA\n\n(Unaudited)\n\n(Dollar amounts in thousands)\n\n \n The following table provides a reconciliation of EBITDA and adjusted EBITDA\n from net (loss) income:\n\n \n Three Months Ended March 31,\n 2026 2025\n Net (loss) income attributable to Cooper-Standard Holdings Inc. $ (33,303) $ 1,552\n Income tax expense 4,197 2,703\n Interest expense, net of interest income 28,308 28,619\n Depreciation and amortization 23,020 23,828\n EBITDA $ 22,222 $ 56,702\n Restructuring charges 4,632 2,111\n Gain on sale of businesses, net ((1)) — (98)\n Loss on refinancing and extinguishment of debt ((2)) 24,155 —\n Adjusted EBITDA $ 51,009 $ 58,715\n\n Sales $ 686,359 $ 667,069\n Net (loss) income margin (4.9) % 0.2 %\n Adjusted EBITDA margin 7.4 % 8.8 %\n\n (1) Gain on sale of businesses related to divestiture in 2024.\n (2) Loss on refinancing and extinguishment of debt relating to the Refinancing\n Transactions during the three months ended March 31, 2026.\n\n \n Adjusted Net (Loss) Income and Adjusted Net (Loss) Income Per Share\n\n(Unaudited)\n\n(Dollar amounts in thousands except share and per share amounts)\n\n \n The following table provides a reconciliation of net (loss) income to adjusted\n net (loss) income and the respective net (loss)\n income per share amounts:\n\n \n Three Months Ended March 31,\n 2026 2025\n Net (loss) income attributable to Cooper-Standard Holdings Inc. $ (33,303) $ 1,552\n Restructuring charges 4,632 2,111\n Gain on sale of businesses, net ((1)) — (98)\n Loss on refinancing and extinguishment of debt ((2)) 24,155 —\n Tax impact of adjusting items( (3)) (731) (111)\n Adjusted net (loss) income $ (5,247) $ 3,454\n\n Weighted average shares outstanding:\n Basic 17,969,620 17,712,568\n Diluted 17,969,620 17,911,855\n\n Net (loss) income per share:\n Basic $ (1.85) $ 0.09\n Diluted $ (1.85) $ 0.09\n\n Adjusted net (loss) income per share:\n Basic $ (0.29) $ 0.20\n Diluted $ (0.29) $ 0.19\n\n (1) Gain on sale of businesses related to divestiture in 2024.\n (2) Loss on refinancing and extinguishment of debt relating to the Refinancing\n Transactions during the three months ended March 31, 2026.\n (3) Represents the elimination of the income tax impact of the above adjustments\n by calculating the income tax impact of these adjusting items using the\n appropriate tax rate for the jurisdiction where the charges were incurred and\n other discrete tax expense.\n\n \n Free Cash Flow\n\n(Unaudited)\n\n(Dollar amounts in thousands)\n\n \n The following table defines free cash flow:\n\n \n Three Months Ended March 31,\n 2026 2025\n Net cash used in operating activities $ (69,154) $ (14,851)\n Capital expenditures (24,041) (17,543)\n Free cash flow $ (93,195) $ (32,394)\n\n \n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/cooper-standard-reports-solid-first-quarter-2026-results-and-strong-new-business-awards-remains-on-track-to-achieve-or-exceed-full-year-plans-302764609.html\n(https://www.prnewswire.com/news-releases/cooper-standard-reports-solid-first-quarter-2026-results-and-strong-new-business-awards-remains-on-track-to-achieve-or-exceed-full-year-plans-302764609.html)\n\nSOURCE Cooper Standard\n\n\n\nPhoto: \nhttps://mma.prnewswire.com/media/2044542/Cooper_Standard_Logo_5_3_23_Logo.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn2gqqbMa","title":"Cooper Standard Reports Solid First Quarter 2026 Results and Strong New Business Awards; Remains on Track to Achieve or Exceed Full Year Plans","author":"PR Newswire","ticker":"CPS","created":"2026-05-06T20:30:00.458Z","tickers":["CPS"],"exchange":"NYSE","article_body":"Cooper Standard Reports Solid First Quarter 2026 Results and Strong New Business Awards; Remains on Track to Achieve or Exceed Full Year Plans\n\nPR Newswire\n\nNORTHVILLE, Mich., May 6, 2026\n\nNORTHVILLE, Mich., May 6, 2026 /PRNewswire/ -- Cooper-Standard Holdings Inc.\n(NYSE: CPS) today reported results for the first quarter 2026.\n\n(https://mma.prnewswire.com/media/2044542/Cooper_Standard_Logo_5_3_23_Logo.html)\n\nFirst Quarter 2026 Highlights\n\n * Sales of $686.4 million, an increase of 2.9% vs. the first quarter of 2025\n * Gross profit of $82.4 million, an increase of 6.8% vs. the first quarter of\n2025\n * Net loss of $33.3 million, or $(1.85) per diluted share, including loss on\nrefinancing of debt\n * Adjusted net loss of $5.2 million, or $(0.29) per diluted share\n * Adjusted EBITDA of $51.0 million, or 7.4% of sales\n * Net New Business Awards totaled $127.9 million during the quarter\n\"Our teams delivered results in the quarter that were consistent with our\nplans and expectations,\" said Jeffrey Edwards, chairman and CEO, Cooper\nStandard. \"By maintaining focus on operational excellence and our strategic\nexecution, we are effectively managing current market dynamics and believe we\nare on track to achieve or exceed our sales and profitability targets for the\nfull year.\"\n\nConsolidated Results\n Three Months Ended March 31,\n 2026 2025\n (Dollar amounts in millions except\n per share amounts)\n Sales $ 686.4 $ 667.1\n Net (loss) income $ (33.3) $ 1.6\n Adjusted net (loss) income* $ (5.2) $ 3.5\n Net (loss) income per diluted share $ (1.85) $ 0.09\n Adjusted net (loss) income per diluted share* $ (0.29) $ 0.19\n Adjusted EBITDA* $ 51.0 $ 58.7\n\n *Adjusted net (loss) income, adjusted EBITDA, and adjusted net (loss) income\n per diluted share are non-GAAP measures. Reconciliations to the most directly\n comparable financial measures, calculated and presented in accordance with\n accounting principles generally accepted in the United States (\"U.S. GAAP\"),\n are provided in the attached supplemental schedules.\n\nSales increased by 2.9% in the first quarter due primarily to favorable\nforeign exchange, partially offset by unfavorable volume and mix.\n\nNet loss for the first quarter of 2026 was $33.3 million, including\nrestructuring charges of $4.6 million, a loss of $24.2 million related to the\nsuccessful debt refinancing completed during the quarter, and other special\nitems. Net income for the first quarter of 2025 was $1.6 million, including\nrestructuring charges of $2.1 million and other special items. Excluding these\nspecial items and their related tax impact, adjusted net loss was $5.2 million\nin the first quarter of 2026 compared to adjusted net income of $3.5 million\nin the first quarter of 2025. The year-over-year change was primarily due to\nunfavorable volume and mix, the non-recurrence of certain royalty payments\nreceived in the first quarter of 2025, and general cost inflation, partially\noffset by cost savings from increased manufacturing and purchasing efficiency.\n\nAdjusted EBITDA for the first quarter of 2026 was $51.0 million compared to\n$58.7 million in the first quarter of 2025. The year-over-year change was\nprimarily driven by unfavorable volume and mix, the non-recurrence of certain\nroyalty payments received in the first quarter of 2025, and general cost\ninflation, partially offset by increased manufacturing and purchasing\nefficiency.\n\nNew Business Awards\n\nThe Company continues to leverage its world-class engineering and\nmanufacturing capabilities, its innovation programs and its reputation for\nquality and service to win new business awards with its OEM customers and\ncapitalize on positive global trends associated with hybrid and battery\nelectric vehicles. During the first quarter of 2026, the Company received net\nnew business awards totaling $127.9 million in anticipated incremental future\nannualized sales, including $31.8 million in new awards associated with\nbattery electric or full-hybrid platforms.\n\nSegment Results of Operations\n\nSales\n Three Months Ended March 31, Variance Due To:\n 2026 2025 Change Volume/Mix* Foreign\n Exchange\n (Dollar amounts in thousands)\n Sales to external customers\n Sealing systems $ 348,303 $ 344,311 $ 3,992 $ (14,560) $ 18,552\n Fluid handling systems 317,946 303,998 13,948 8,507 5,441\n\n * Net of customer price adjustments, including recoveries.\n\nAdjusted EBITDA\n Three Months Ended March 31, Variance Due To:\n 2026 2025 Change Volume/Mix* Foreign Cost Decreases/\n Exchange (Increases)**\n (Dollar amounts in thousands)\n Segment adjusted EBITDA\n Sealing systems $ 29,951 $ 32,312 $ (2,361) $ (9,799) $ 368 $ 7,070\n Fluid handling systems 23,455 20,982 2,473 2,544 (4,619) 4,548\n\n * Net of customer price adjustments, including recoveries.\n ** Net of savings from restructuring initiatives.\n\nAdditional detail on our quarterly segment variance analyses is available in\nour periodic filings with the Securities and Exchange Commission.\n\nCash and Liquidity\n\nAs of March 31, 2026, following the successful refinancing transaction\ncompleted during the quarter, Cooper Standard had cash and cash equivalents\ntotaling $118.5 million. Total liquidity, including availability under the\nCompany's amended senior asset-based revolving credit facility, was $285.8\nmillion at the end of the first quarter of 2026. Based on current expectations\nfor light vehicle production and customer demand for our products, the Company\nbelieves it has sufficient financial resources to support ongoing operations\nand the execution of planned strategic initiatives for the foreseeable future.\nThese financial resources include current cash on hand, continuing access to\nflexible credit facilities, and expected future positive cash generation.\n\nOutlook\n\nThe Company believes it is well positioned to continue driving sustainable\nvalue through profitable growth and margin enhancement. While customer supply\nchain disruptions, changing trade and tariff policies, geopolitical issues and\naffordability concerns have impacted and may continue to impact production\nforecasts, the Company believes that the underlying demand for new light\nvehicle production in its key operating regions remains strong, supported by\nthe age of the existing fleet, increasing population, increasing numbers of\nnewly licensed drivers, and declining vehicle inventories. The Company remains\nconfident that the continuing successful execution of its plans and\nstrategies, including expanding relationships with new customers and the\ncontinued launch of new, innovative programs with enhanced contribution\nmargins and enhanced index-based commercial agreements, will drive increasing\nprofit margins and returns on invested capital over time as markets stabilize.\n\nFollowing strong actual results in the first three months of the year, the\nCompany believes it is on track to achieve or exceed the targeted ranges for\nsales and profitability as outlined in its formal guidance for 2026 issued in\nFebruary. The Company expects to provide a formal update to its full year\nguidance in conjunction with the release of its second quarter 2026 results.\n\nConference Call Details\n\nCooper Standard management will host a conference call and webcast on May 7,\n2026 at 9 a.m. ET to discuss its first quarter 2026 results, provide a general\nbusiness update and respond to investor questions. Investors and other\ninterested parties may listen to the call by accessing the online, real-time\nwebcast at https://ir.cooperstandard.com/events\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4682490-1&h=4212121603&u=https%3A%2F%2Fir.cooperstandard.com%2Fevents&a=https%3A%2F%2Fir.cooperstandard.com%2Fevents)\n.\n\nTo participate by phone, callers in the United States and Canada can dial\ntoll-free at 800-836-8184 (international callers dial 646-357-8785) and ask to\nbe connected to the Cooper Standard conference call. Representatives of the\ninvestment community will have the opportunity to ask questions during\nQ&A. Participants should dial-in at least five minutes prior to the start\nof the call.\n\nA replay of the webcast will be available on the investors' portion of the\nCooper Standard website (https://ir.cooperstandard.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4682490-1&h=3846734043&u=https%3A%2F%2Fir.cooperstandard.com%2F&a=https%3A%2F%2Fir.cooperstandard.com)\n) shortly after the live event.\n\nAbout Cooper Standard\n\nCooper Standard, headquartered in Northville, Mich., with locations in 20\ncountries, is a leading global supplier of sealing and fluid handling systems\nand components. Utilizing our materials science and manufacturing expertise,\nwe create innovative and sustainable engineered solutions for diverse\ntransportation and industrial markets. Cooper Standard's approximately 22,000\nteam members (including contingent workers) are at the heart of our success,\ncontinuously improving our business and surrounding communities. Learn more at\nwww.cooperstandard.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4682490-1&h=3268793572&u=https%3A%2F%2Fwww.cooperstandard.com%2F&a=www.cooperstandard.com)\nor follow us on LinkedIn\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4682490-1&h=4047110249&u=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fcooper-standard-automotive%2Fposts%2F%3FfeedView%3Dall&a=LinkedIn)\n, X\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4682490-1&h=2324330882&u=https%3A%2F%2Fx.com%2FCooperStandard&a=X)\n, Facebook\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4682490-1&h=3760160772&u=https%3A%2F%2Fwww.facebook.com%2FCooperStandardOfficial%2F&a=Facebook)\n,\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4682490-1&h=998237791&u=https%3A%2F%2Fwww.facebook.com%2FCooperStandardOfficial%2F&a=%2C)\nInstagram\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4682490-1&h=2118082029&u=https%3A%2F%2Fwww.instagram.com%2Fcooperstandard_official%2F&a=Instagram)\nor YouTube\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4682490-1&h=2045722933&u=https%3A%2F%2Fwww.youtube.com%2Fchannel%2FUC5TyOABNLDwUvt1XIM4MXmQ&a=YouTube)\n.\n\nForward Looking Statements\n\nThis press release includes \"forward-looking statements\" within the meaning of\nU.S. federal securities laws, and we intend that such forward-looking\nstatements be subject to the safe harbor created thereby. Our use of words\n\"estimate,\" \"expect,\" \"anticipate,\" \"project,\" \"plan,\" \"intend,\" \"believe,\"\n\"outlook,\" \"guidance,\" \"forecast,\" or future or conditional verbs, such as\n\"will,\" \"should,\" \"could,\" \"would,\" or \"may,\" and variations of such words or\nsimilar expressions are intended to identify forward-looking statements. All\nforward-looking statements are based upon our current expectations and various\nassumptions. Our expectations, beliefs, and projections are expressed in good\nfaith and we believe there is a reasonable basis for them. However, we cannot\nassure you that these expectations, beliefs and projections will be achieved.\nForward-looking statements are not guarantees of future performance and are\nsubject to significant risks and uncertainties that may cause actual results\nor achievements to be materially different from the future results or\nachievements expressed or implied by the forward-looking statements. Among\nother items, such factors may include: volatility or decline of the Company's\nstock price, or absence of stock price appreciation; impacts and disruptions\nrelated to the wars in Ukraine and the Middle East; our ability to achieve\ncommercial recoveries and to offset the adverse impact of higher commodity and\nother costs through pricing and other negotiations with our customers; work\nstoppages or other labor disruptions with our employees or our customers'\nemployees; prolonged or material contractions in automotive sales and\nproduction volumes; our inability to realize sales represented by awarded\nbusiness; escalating pricing pressures; loss of large customers or significant\nplatforms; our ability to successfully compete in the automotive parts\nindustry; availability and increasing volatility in costs of manufactured\ncomponents and raw materials; disruptions in our supply base or our customers'\nsupply base; competitive threats and commercial risks associated with our\ndiversification strategy; possible variability of our working capital\nrequirements; risks associated with our international operations, including\nchanges in laws, regulations, and policies governing the terms of foreign\ntrade such as increased trade restrictions and tariffs; foreign currency\nexchange rate fluctuations; the effects of a potential U.S. government\nshutdown and its impact on our customers; our ability to control the\noperations of our joint ventures for our sole benefit; our substantial amount\nof indebtedness and rates of interest; our ability to obtain adequate\nfinancing sources in the future; operating and financial restrictions imposed\non us under our debt instruments; the underfunding of our pension plans;\nsignificant changes in discount rates and the actual return on pension assets;\neffectiveness of continuous improvement programs and other cost savings plans;\nsignificant costs related to manufacturing facility closings or consolidation;\nour ability to execute new program launches; our ability to meet customers'\nneeds for new and improved products; the possibility that our acquisitions and\ndivestitures may not be successful; product liability, warranty and recall\nclaims brought against us; laws and regulations, including environmental,\nhealth and safety laws and regulations; legal and regulatory proceedings,\nclaims or investigations against us; the potential impact of any future public\nhealth events on our financial condition and results of operations; the\nability of our intellectual property to withstand legal challenges;\ncyber-attacks, data privacy concerns, other disruptions in, or the inability\nto implement upgrades to, our information technology systems; the possible\nvolatility of our annual effective tax rate; the possibility of a failure to\nmaintain effective controls and procedures; the possibility of future\nimpairment charges to our goodwill and long-lived assets; our ability to\nidentify, attract, develop and retain a skilled, engaged and diverse\nworkforce; our ability to procure insurance at reasonable rates; and our\ndependence on our subsidiaries for cash to satisfy our obligations.; and other\nrisks and uncertainties, including those detailed from time to time in the\nCompany's periodic reports filed with the Securities and Exchange Commission.\n\nYou should not place undue reliance on these forward-looking statements. Our\nforward-looking statements speak only as of the date of this press release and\nwe undertake no obligation to publicly update or otherwise revise any\nforward-looking statement, whether as a result of new information, future\nevents or otherwise, except where we are expressly required to do so by law.\n\nThis press release also contains estimates and other information that is based\non industry publications, surveys and forecasts. This information involves a\nnumber of assumptions and limitations, and we have not independently verified\nthe accuracy or completeness of the information.\n Contact for Analysts: Contact for Media:\n Roger Hendriksen Chris Andrews\n Cooper Standard Cooper Standard\n (248) 596-6465 (248) 596-6217\n roger.hendriksen@cooperstandard.com candrews@cooperstandard.com (mailto:candrews@cooperstandard.com)\n (mailto:roger.hendriksen@cooperstandard.com)\n\nFinancial statements and related notes follow:\n COOPER-STANDARD HOLDINGS INC.\n CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS\n (Unaudited)\n (Dollar amounts in thousands except share and per share amounts)\n\n Three Months Ended March 31,\n 2026 2025\n Sales $ 686,359 $ 667,069\n Cost of products sold 603,941 589,891\n Gross profit 82,418 77,178\n Selling, administration & engineering expenses 52,505 51,191\n Amortization of intangibles 1,224 1,612\n Restructuring charges 4,632 2,111\n Operating income 24,057 22,264\n Interest expense, net of interest income (28,308) (28,619)\n Equity in earnings of affiliates 1,449 1,776\n Loss on refinancing and extinguishment of debt (24,155) —\n Other (expense) income, net (2,112) 8,884\n (Loss) income before income taxes (29,069) 4,305\n Income tax expense 4,197 2,703\n Net (loss) income (33,266) 1,602\n Net income attributable to noncontrolling interests (37) (50)\n Net (loss) income attributable to Cooper-Standard Holdings Inc. $ (33,303) $ 1,552\n\n Weighted average shares outstanding:\n Basic 17,969,620 17,712,568\n Diluted 17,969,620 17,911,855\n\n Net (loss) income per share:\n Basic $ (1.85) $ 0.09\n Diluted $ (1.85) $ 0.09\n\n \n COOPER-STANDARD HOLDINGS INC.\n CONDENSED CONSOLIDATED BALANCE SHEETS\n (Dollar amounts in thousands except share amounts)\n\n March 31, 2026 December 31, 2025\n (unaudited)\n Assets\n Current assets:\n Cash and cash equivalents $ 118,488 $ 191,699\n Accounts receivable, net 378,007 334,267\n Tooling receivable, net 74,876 72,316\n Inventories 185,004 154,189\n Prepaid expenses 23,830 23,940\n Value added tax receivable 41,103 47,329\n Other current assets 81,793 57,360\n Total current assets 903,101 881,100\n Property, plant and equipment, net 511,744 523,508\n Operating lease right-of-use assets, net 93,987 83,474\n Goodwill 140,609 140,696\n Intangible assets, net 27,851 28,978\n Other assets 175,762 175,418\n Total assets $ 1,853,054 $ 1,833,174\n\n Liabilities and Equity\n Current liabilities:\n Debt payable within one year $ 44,289 $ 86,121\n Accounts payable 364,770 337,319\n Payroll liabilities 104,189 122,395\n Accrued liabilities 112,673 114,150\n Current operating lease liabilities 18,715 18,412\n Total current liabilities 644,636 678,397\n Long-term debt 1,099,887 1,018,483\n Pension benefits 89,905 91,336\n Postretirement benefits other than pensions 25,845 26,461\n Long-term operating lease liabilities 80,340 69,806\n Other liabilities 35,925 40,268\n Total liabilities 1,976,538 1,924,751\n Equity:\n Common stock, $0.001 par value, 190,000,000 shares authorized; 19,821,093 18 17\n shares issued\n and 17,755,284 shares outstanding as of March 31, 2026, and 19,702,818 shares\n issued and\n 17,637,009 shares outstanding as of December 31, 2025\n Additional paid-in capital 523,887 524,312\n Retained deficit (508,030) (474,727)\n Accumulated other comprehensive loss (131,193) (133,090)\n Total Cooper-Standard Holdings Inc. equity (115,318) (83,488)\n Noncontrolling interests (8,166) (8,089)\n Total equity (123,484) (91,577)\n Total liabilities and equity $ 1,853,054 $ 1,833,174\n\n \n COOPER-STANDARD HOLDINGS INC.\n CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS\n (Unaudited)\n (Dollar amounts in thousands)\n\n Three Months Ended March 31,\n 2026 2025\n Operating activities:\n Net (loss) income $ (33,266) $ 1,602\n Adjustments to reconcile net (loss) income to net cash used in operating\n activities:\n Depreciation 21,796 22,216\n Amortization of intangibles 1,224 1,612\n Share-based compensation expense 2,610 2,199\n Equity in losses of affiliates, net of dividends related to earnings 588 193\n Loss on refinancing and extinguishment of debt 24,155 —\n Deferred income taxes 1,037 3,929\n Other 969 1,257\n Changes in operating assets and liabilities (88,267) (47,859)\n Net cash used in operating activities (69,154) (14,851)\n Investing activities:\n Capital expenditures (24,041) (17,543)\n Proceeds from sale of businesses — 2,377\n Other 4 12\n Net cash used in investing activities (24,037) (15,154)\n Financing activities:\n Proceeds from issuance of long-term debt, net of debt issuance costs 1,090,610 —\n Repayment of long-term debt (1,051,175) —\n Principal payments on long-term debt (523) (763)\n Debt issuance costs and other fees (19,529) —\n Taxes withheld and paid on employees' share-based payment awards (2,936) (1,678)\n Other (8) (22)\n Net cash provided by (used in) financing activities 16,439 (2,463)\n Effects of exchange rate changes on cash, cash equivalents and restricted cash (704) 2,121\n Changes in cash, cash equivalents and restricted cash (77,456) (30,347)\n Cash, cash equivalents and restricted cash at beginning of period 199,882 178,697\n Cash, cash equivalents and restricted cash at end of period $ 122,426 $ 148,350\n\n Reconciliation of cash, cash equivalents and restricted cash to the condensed\n consolidated balance sheets:\n Balance as of\n March 31, 2026 December 31, 2025\n Cash and cash equivalents $ 118,488 $ 191,699\n Restricted cash included in other current assets 2,882 6,581\n Restricted cash included in other assets 1,056 1,602\n Total cash, cash equivalents and restricted cash $ 122,426 $ 199,882\n\nNon-GAAP Financial Measures\n\nEBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss),\nadjusted earnings (loss) per share, and free cash flow are measures not\nrecognized under U.S. GAAP and which exclude certain non-cash and special\nitems that may obscure trends and operating performance not indicative of the\nCompany's core financial activities. Net new business is a measure not\nrecognized under U.S. GAAP which is a representation of potential incremental\nfuture revenue but which may not fully reflect all external impacts to future\nrevenue. Management considers EBITDA, adjusted EBITDA, adjusted EBITDA margin,\nadjusted net income (loss), adjusted earnings (loss) per share, free cash flow\nand net new business to be key indicators of the Company's operating\nperformance and believes that these and similar measures are widely used by\ninvestors, securities analysts and other interested parties in evaluating the\nCompany's performance. In addition, similar measures are utilized in the\ncalculation of the financial covenants and ratios contained in the Company's\nfinancing arrangements and management uses these measures for developing\ninternal budgets and forecasting purposes. EBITDA is defined as net income\n(loss) adjusted to reflect income tax expense (benefit), interest expense net\nof interest income, depreciation and amortization, and adjusted EBITDA is\ndefined as EBITDA further adjusted to reflect certain items that management\ndoes not consider to be reflective of the Company's core operating\nperformance. Adjusted net income (loss) is defined as net income (loss)\nadjusted to reflect certain items that management does not consider to be\nreflective of the Company's core operating performance. Adjusted EBITDA margin\nis defined as adjusted EBITDA as a percentage of sales. Adjusted basic and\ndiluted earnings (loss) per share is defined as adjusted net income (loss)\ndivided by the weighted average number of basic and diluted shares,\nrespectively, outstanding during the period. Free cash flow is defined as net\ncash provided by operating activities minus capital expenditures and is useful\nto both management and investors in evaluating the Company's ability to\nservice and repay its debt. Net new business reflects anticipated sales from\nformally awarded programs, less lost business, discontinued programs and\nreplacement programs and is based on S&P Global (IHS Markit) forecast\nproduction volumes. The calculation of \"net new business\" does not reflect\ncustomer price reductions on existing programs and may be impacted by various\nassumptions embedded in the respective calculation, including actual vehicle\nproduction levels on new programs, foreign exchange rates and the timing of\nmajor program launches.\n\nWhen analyzing the Company's operating performance, investors should use\nEBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss),\nadjusted earnings (loss) per share, free cash flow and net new business as\nsupplements to, and not as alternatives for, net income (loss), operating\nincome, or any other performance measure derived in accordance with U.S. GAAP.\nEBITDA, adjusted EBITDA, adjusted net income (loss), adjusted earnings (loss)\nper share, free cash flow and net new business have limitations as analytical\ntools and should not be considered in isolation or as substitutes for analysis\nof the Company's results of operations as reported under U.S. GAAP. Other\ncompanies may report EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted\nnet income (loss), adjusted earnings (loss) per share, free cash flow and net\nnew business differently and therefore the Company's results may not be\ncomparable to other similarly titled measures of other companies. In addition,\nin evaluating adjusted EBITDA and adjusted net income (loss), it should be\nnoted that in the future the Company may incur expenses similar to or in\nexcess of the adjustments in the below presentation. This presentation of\nadjusted EBITDA and adjusted net income (loss) should not be construed as an\ninference that the Company's future results will be unaffected by special\nitems. Reconciliations of EBITDA, adjusted EBITDA, adjusted EBITDA margin,\nadjusted net income (loss) and free cash flow follow.\n Reconciliation of Non-GAAP Financial Measures\n\nEBITDA and Adjusted EBITDA\n\n(Unaudited)\n\n(Dollar amounts in thousands)\n\n \n The following table provides a reconciliation of EBITDA and adjusted EBITDA\n from net (loss) income:\n\n \n Three Months Ended March 31,\n 2026 2025\n Net (loss) income attributable to Cooper-Standard Holdings Inc. $ (33,303) $ 1,552\n Income tax expense 4,197 2,703\n Interest expense, net of interest income 28,308 28,619\n Depreciation and amortization 23,020 23,828\n EBITDA $ 22,222 $ 56,702\n Restructuring charges 4,632 2,111\n Gain on sale of businesses, net ((1)) — (98)\n Loss on refinancing and extinguishment of debt ((2)) 24,155 —\n Adjusted EBITDA $ 51,009 $ 58,715\n\n Sales $ 686,359 $ 667,069\n Net (loss) income margin (4.9) % 0.2 %\n Adjusted EBITDA margin 7.4 % 8.8 %\n\n (1) Gain on sale of businesses related to divestiture in 2024.\n (2) Loss on refinancing and extinguishment of debt relating to the Refinancing\n Transactions during the three months ended March 31, 2026.\n\n \n Adjusted Net (Loss) Income and Adjusted Net (Loss) Income Per Share\n\n(Unaudited)\n\n(Dollar amounts in thousands except share and per share amounts)\n\n \n The following table provides a reconciliation of net (loss) income to adjusted\n net (loss) income and the respective net (loss)\n income per share amounts:\n\n \n Three Months Ended March 31,\n 2026 2025\n Net (loss) income attributable to Cooper-Standard Holdings Inc. $ (33,303) $ 1,552\n Restructuring charges 4,632 2,111\n Gain on sale of businesses, net ((1)) — (98)\n Loss on refinancing and extinguishment of debt ((2)) 24,155 —\n Tax impact of adjusting items( (3)) (731) (111)\n Adjusted net (loss) income $ (5,247) $ 3,454\n\n Weighted average shares outstanding:\n Basic 17,969,620 17,712,568\n Diluted 17,969,620 17,911,855\n\n Net (loss) income per share:\n Basic $ (1.85) $ 0.09\n Diluted $ (1.85) $ 0.09\n\n Adjusted net (loss) income per share:\n Basic $ (0.29) $ 0.20\n Diluted $ (0.29) $ 0.19\n\n (1) Gain on sale of businesses related to divestiture in 2024.\n (2) Loss on refinancing and extinguishment of debt relating to the Refinancing\n Transactions during the three months ended March 31, 2026.\n (3) Represents the elimination of the income tax impact of the above adjustments\n by calculating the income tax impact of these adjusting items using the\n appropriate tax rate for the jurisdiction where the charges were incurred and\n other discrete tax expense.\n\n \n Free Cash Flow\n\n(Unaudited)\n\n(Dollar amounts in thousands)\n\n \n The following table defines free cash flow:\n\n \n Three Months Ended March 31,\n 2026 2025\n Net cash used in operating activities $ (69,154) $ (14,851)\n Capital expenditures (24,041) (17,543)\n Free cash flow $ (93,195) $ (32,394)\n\n \n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/cooper-standard-reports-solid-first-quarter-2026-results-and-strong-new-business-awards-remains-on-track-to-achieve-or-exceed-full-year-plans-302764609.html\n(https://www.prnewswire.com/news-releases/cooper-standard-reports-solid-first-quarter-2026-results-and-strong-new-business-awards-remains-on-track-to-achieve-or-exceed-full-year-plans-302764609.html)\n\nSOURCE Cooper Standard\n\n\n\nPhoto: \nhttps://mma.prnewswire.com/media/2044542/Cooper_Standard_Logo_5_3_23_Logo.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-05-06T20:30:00.538255477Z","server_sent_at_ms":1778099400538},"received_at":"2026-05-06T20:30:00.706Z","source_url":null},"analysis":null,"durationMs":null,"modelName":null}}