Cooper-Standard Misses on Q3 Earnings, Reduces '24 Sales Outlook
Lower production volume, an adverse currency exchange rate and a lack of prior year's settlements hurt CPS's earnings in Q3.
Cooper-Standard Holdings Inc. (CPS) Q3 2024 Earnings Call Transcript
Cooper-Standard Holdings Inc. (NYSE:CPS ) Q3 2024 Earnings Conference Call November 1, 2024 9:00 AM ET Company Participants Roger Hendriksen – Director-Investor Relations Jeff Edwards – Chairman and Chief Executive Officer Jon Banas – Executive Vice President and Chief Financial Officer Conference Call Participants Michael Ward – Freedom Capital Kirk Ludtke – Imperial Capital Brian DiRubbio – Baird Ben Briggs – StoneX Financial Operator Good morning, ladies and gentlemen, and welcome to the Cooper-Standard Third Quarter 2024 Earnings Conference Call. During the presentation, all participants will be in listen-only mode.
Cooper Standard: Sealing Value With Strong Fundamentals And Attractive Valuation
Cooper Standard's low valuation ratios signal significant upside potential after a 90% share price decline since 2018. Ongoing restructuring is improving margins and reducing operational costs, despite inflationary pressures. In my view, the recent revenue decline is temporary, driven by external factors like currency fluctuations and a business divestiture in Q3 2023.
Cooper-Standard (CPS) Reports Y/Y Improvement in Q2 Earnings
Cooper-Standard's (CPS) total revenues decline 2.1% y/y in Q2 primarily due to the divestiture of the Technical Rubber business and unfavorable foreign exchange.
Cooper-Standard Holdings Inc. (CPS) Q2 2024 Earnings Call Transcript
Cooper-Standard Holdings Inc. (NYSE:CPS ) Q2 2024 Earnings Conference Call August 2, 2024 9:00 AM ET Company Participants Roger Hendriksen - Director, Investor Relations Jeffrey Edwards - Chairman and Chief Executive Officer Jonathan Banas - Executive Vice President and Chief Financial Officer Conference Call Participants Michael Ward - Freedom Capital Kirk Ludtke - Imperial Capital Brian DiRubbio - Baird Ben Briggs - StoneX Financial, Inc. Operator Good morning, ladies and gentlemen, and welcome to the Cooper-Standard Second Quarter 2024 Earnings Conference Call. During the presentation, all participants will be in a listen-only mode.
Cooper-Standard Holdings Q2 Preview: Why I Am Bullish Heading Into Earnings, Strong Buy
Cooper-Standard is set to report Q2 earnings on Thursday, August 1st. Cooper-Standard shares have fallen 10.76% since my last report. OEM earnings and recent auto industry data suggest strong new vehicle demand, potentially signaling a strong upcoming quarter for CPS.
Meridian Wealth Management LLC Makes New Investment in Cooper-Standard Holdings Inc. (NYSE:CPS)
Meridian Wealth Management LLC purchased a new position in shares of Cooper-Standard Holdings Inc. (NYSE:CPS – Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,000 shares of the auto parts company’s stock, valued at approximately $195,000. Meridian Wealth Management LLC owned approximately 0.06% of Cooper-Standard as of its most recent filing with the Securities and Exchange Commission (SEC). Other large investors also recently modified their holdings of the company. Fiduciary Alliance LLC bought a new position in shares of Cooper-Standard during the fourth quarter valued at $1,845,000. GSA Capital Partners LLP raised its position in Cooper-Standard by 319.6% during the 3rd quarter. GSA Capital Partners LLP now owns 70,602 shares of the auto parts company’s stock worth $947,000 after purchasing an additional 53,774 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Cooper-Standard during the 3rd quarter worth $701,000. Trexquant Investment LP lifted its holdings in Cooper-Standard by 119.6% during the 3rd quarter. Trexquant Investment LP now owns 48,199 shares of the auto parts company’s stock worth $647,000 after buying an additional 26,246 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Cooper-Standard in the 4th quarter valued at about $501,000. 69.11% of the stock is currently owned by institutional investors. Cooper-Standard Stock Performance Shares of NYSE CPS opened at $14.28 on Monday. The company’s 50 day moving average price is $15.57 and its 200-day moving average price is $16.56. Cooper-Standard Holdings Inc. has a 52-week low of $10.10 and a 52-week high of $22.74. The company has a market capitalization of $246.90 million, a P/E ratio of -2.41 and a beta of 2.87. Cooper-Standard (NYSE:CPS – Get Free Report) last released its earnings results on Thursday, February 15th. The auto parts company reported ($1.79) earnings per share (EPS) for the quarter. The company had revenue of $673.64 million for the quarter. Analysts Set New Price Targets Separately, StockNews.com raised Cooper-Standard from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. Get Our Latest Research Report on CPS Cooper-Standard Profile (Free Report) Cooper-Standard Holdings Inc, through its subsidiary, Cooper-Standard Automotive Inc, manufactures and sells sealing, fuel and brake delivery, and fluid transfer systems in the United States, Mexico, China, Poland, Canada, Germany, France, and internationally. The company offers sealing systems, including dynamic seals, static seals, encapsulated glasses, textured surfaces with cloth appearance, obstacle detection sensor systems, FlushSeal systems, variable extrusions, specialty sealing products, stainless steel trims, and frameless systems.
