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Cooper Standard(CPS) - 2025 Q1 - Quarterly Results
CPSCooper Standard(CPS)2025-05-02 11:02

Financial Performance - Sales for Q1 2025 were 667.1million,adecreaseof1.4667.1 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 1.6million,asignificantimprovementof1.6 million, a significant improvement of 33.3 million from a net loss of 31.7millioninQ12024[6].−AdjustednetincomeforQ12025was31.7 million in Q1 2024 [6]. - Adjusted net income for Q1 2025 was 3.5 million, compared to an adjusted net loss of 30.6millioninQ12024,markinganincreaseof30.6 million in Q1 2024, marking an increase of 34.1 million [6]. - Adjusted EBITDA for Q1 2025 was 58.7million,representinganincreaseof58.7 million, representing an increase of 29.4 million from 29.3millioninQ12024,whichis8.829.3 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 22.3million,anincreaseof539.222.3 million, an increase of 539.2% compared to Q1 2024 [7]. - Operating income significantly improved to 22.264 million compared to 3.483millionintheprioryear,reflectingasubstantialoperationalturnaround[26].−AdjustedEBITDAforthequarterwas3.483 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 29.348millionintheprioryear[33].−Adjustednetincomeforthequarterwas29.348 million in the prior year [33]. - Adjusted net income for the quarter was 3.454 million, compared to a loss of 30.602millioninthesameperiodlastyear[34].−Basicanddilutedearningspersharewereboth30.602 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 1.81pershareinthepreviousyear[34].LiquidityandCashFlow−AsofMarch31,2025,cashandcashequivalentstotaled1.81 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 300.1million[15].−Totalcurrentassetsincreasedto300.1 million [15]. - Total current assets increased to 879.245 million, up from 805.256millionattheendof2024,indicatingimprovedliquidity[28].−Cashandcashequivalentsattheendoftheperiodwere805.256 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 170.035millionattheendof2024[30].−FreecashflowforQ12025was170.035 million at the end of 2024 [30]. - Free cash flow for Q1 2025 was (32,394) thousand, compared to (31,033)thousandinQ12024,reflectingayear−over−yearincreaseincashoutflow[37].−NetcashusedinoperatingactivitiesforQ12025was(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)thousandinQ12024,indicatingaslightincreaseinoperationalcashoutflow[37].−CapitalexpendituresforQ12025totaled(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)thousandinQ12024,showinganincreaseininvestmentspending[37].BusinessOutlookandStrategy−Thecompanyreceivednetnewbusinessawardstotaling(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 1.922billionfrom1.922 billion from 1.866 billion, reflecting ongoing debt management strategies [28].