Cooper-Standard reported higher third-quarter sales and continued strong new-business awards, but the auto-parts supplier remained unprofitable and generated much less cash from operations than a year earlier. The company said inflation and commodity-cost pressures were greater than expected, even as favorable volume, product mix and pricing lifted sales despite lower global light-vehicle production.
The company also said it is working with customers to refine commercial agreements and speed up cost recoveries. CEO Jeffrey Edwards said quarterly awards were booked at a record pace and carried average contribution margins consistent with the company’s longer-term targets.
Key details
- Sales rose 1.9% year over year to $708.6 million. Cooper-Standard attributed the increase mainly to favorable volume, mix and price adjustments. Global light-vehicle production fell 2.3% over the same period.
- The company recorded a net loss of $20.4 million, or $1.13 a diluted share, compared with a $7.6 million loss, or 43 cents a share, a year earlier. The latest quarter’s net loss included $19.2 million in restructuring charges.
- On an adjusted basis, the net loss was $2.1 million, or 11 cents a share, versus an adjusted loss of $4.4 million, or 24 cents a share, in the third quarter of 2025.
- Adjusted EBITDA was $52.8 million, equal to 7.5% of sales, slightly below $53.3 million a year earlier.
- Net new business awards totaled $148.8 million for the quarter. Edwards said the company is pursuing customer agreements and faster cost recoveries to address inflation and commodity-price pressures.
- Operating cash flow was $5.2 million, down from $38.6 million a year earlier. Free cash flow was negative $10.8 million, compared with positive $27.4 million in the prior-year quarter.
- For the first nine months of 2026, sales were $2.12 billion, up from $2.07 billion a year earlier. The company’s net loss widened to $72.6 million from $7.5 million, while adjusted EBITDA fell to $157.8 million from $174.7 million.
- Nine-month cash generation also weakened: operating cash flow was negative $33.8 million, versus positive $8.2 million in the first nine months of 2025. Free cash flow was negative $87.6 million, compared with negative $28.3 million a year earlier.
- Cooper-Standard scheduled a conference call to discuss the quarterly results for November 5 at 9 a.m. Eastern.
The quarter showed a contrast between modest sales growth and weaker earnings and cash generation. New-business awards were a positive commercial-development measure, while the reported results also reflected restructuring charges and ongoing cost pressures.