Brief: Cooper-Standard Posts Q3 Loss Per Share Of $0.82

Cooper-Standard Holdings

05/11/2019 23:03

Nov 5 (Reuters) - Cooper-Standard Holdings Inc  CPS.N :
    * COOPER STANDARD REPORTS THIRD QUARTER RESULTS, DETAILS
RESTRUCTURING PLANS
    * Q3 ADJUSTED LOSS PER SHARE $0.31
    * Q3 LOSS PER SHARE $0.82
    * Q3 SALES $729 MILLION VERSUS REFINITIV IBES ESTIMATE OF
$688.5
MILLION
    * Q3 EARNINGS PER SHARE ESTIMATE $0.59 -- REFINITIV IBES
DATA
    * COOPER-STANDARD - SEES FY SALES $3.0 BILLION - $3.1
BILLION
    * COOPER-STANDARD - SEES FY CAPEX $165 MILLION - $175
MILLION
    * FY2019 REVENUE VIEW $3.05 BILLION -- REFINITIV IBES DATA
    * COOPER-STANDARD HOLDINGS - UNANTICIPATED UAW WORK STOPPAGE
IN
U.S. FURTHER REDUCED SALES AND PROFITS DURING Q3
    * UNFAVORABLE OUTCOMES OF CUSTOMER NEGOTIATIONS IN CHINA
REDUCED
SALES AND PROFITS DURING Q3
    * COOPER-STANDARD HOLDINGS - IMPLEMENTING MANY ADDITIONAL
RESTRUCTURING & COST REDUCTION INITIATIVES EXPECTED TO REDUCE
EXPENSES IN 2020 & BEYOND
    * COOPER-STANDARD HOLDINGS - RESTRUCTURING EXPENSE RELATED
TO
PLANNED HEADCOUNT REDUCTIONS IS EXPECTED TO BE $7 TO $9 MILLION
    * COOPER-STANDARD HOLDINGS - RESTRUCTURING EXPENSE RELATED
TO
FACILITY CLOSURES IS EXPECTED TO BE IN RANGE OF $20 TO $25
MILLION
    * RELATED STRUCTURAL COST SAVINGS ARE EXPECTED TO DRIVE A
CASH
PAYBACK IN LESS THAN TWO YEARS

Source text for Eikon:  ID:nPn8728wZa 
Further company coverage:  CPS.N 

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