Cooper-Standard reported higher sales for the third quarter of 2026, but remained loss-making as inflation and commodity costs weighed on results. The auto-parts supplier also reported $148.8 million in net new business awards, which management said came at average contribution margins in line with its longer-term plans.
The company said it would discuss the results on a conference call at 9 a.m. ET on November 5.
Key details
- Sales rose 1.9% year over year to $708.6 million. Cooper-Standard attributed the increase primarily to favorable volume, product mix and price adjustments, despite global light-vehicle production falling 2.3%.
- The quarterly net loss widened to $20.4 million from $7.6 million a year earlier. The loss included $19.2 million in restructuring charges.
- On an adjusted basis, the net loss narrowed to $2.1 million, or 11 cents per diluted share, from $4.4 million, or 24 cents per share. Adjusted results exclude certain items and are not calculated under standard accounting rules.
- Adjusted EBITDA was $52.8 million, or 7.5% of sales, compared with $53.3 million a year earlier. The company generated $5.2 million in cash from operating activities, down from $38.6 million in the prior-year quarter, while free cash flow was negative $10.8 million versus positive $27.4 million.
- Net new business awards totaled $148.8 million for the quarter. CEO Jeffrey Edwards said the awards were being booked at average contribution margins consistent with the company’s longer-term strategic targets.
- For the first nine months of 2026, sales increased to $2.12 billion from $2.07 billion, but profitability and cash flow deteriorated. Cooper-Standard reported a net loss of $72.6 million, compared with a $7.5 million loss in the same period of 2025. Adjusted EBITDA declined to $157.8 million from $174.7 million.
- Nine-month cash generation was also weaker: operating activities used $33.8 million, compared with generating $8.2 million a year earlier. Free cash flow was negative $87.6 million, versus negative $28.3 million.
What changes—and what doesn’t
The business is continuing to win new work, but those awards do not alter the quarter’s financial picture: adjusted EBITDA was little changed from a year earlier, while reported losses and cash-flow measures were weaker. Management said commodity prices and general inflation remained greater headwinds than expected and that it was working with customers to refine commercial agreements and speed up cost recoveries.