CPS · Cooper-Standard Holdings Inc.

Cooper-Standard Holdings Inc. delivered Q1 2026 results aligned with internal plans, reporting sales of $686.4 million, a 2.9% increase from $667.1 million in Q1 2025, primarily due to favorable foreign exchange effects that more than offset unfavorable volume and mix. Gross profit rose 6.8% to $82.4 million, reflecting improved manufacturing and purchasing efficiencies, though adjusted EBITDA fell to $51.0 million (7.4% margin) from $58.7 million, impacted by volume/mix headwinds, non-recurrence of Q1 2025 royalty payments, and cost inflation. The GAAP net loss of $33.3 million ($1.85 per share) was driven by a $24.2 million loss on debt refinancing, $4.6 million in restructuring charges, and other special items, compared to Q1 2025 net income of $1.6 million. Adjusted net loss narrowed the gap to $5.2 million from prior-year adjusted income of $3.5 million. Segmentally, Sealing Systems sales grew modestly to $348.3 million amid FX tailwinds, while Fluid Handling Systems rose to $317.9 million on volume gains. Post-refinancing, liquidity strengthened to $285.8 million with $118.5 million in cash. CEO Jeffrey Edwards emphasized operational excellence amid market dynamics, with $127.9 million in net new business awards (including $31.8 million for EV/hybrid platforms) supporting growth. The company remains on track for full-year 2026 targets, expecting a formal guidance update with Q2 results, bolstering investor confidence in strategic execution.