Overview
Cooper Standard Q2 adjusted EBITDA beats expectations, per LSEG data
Adjusted EPS for Q2 beats consensus
Co raises full-year adjusted EBITDA guidance
Outlook
Cooper Standard raises full-year adjusted EBITDA guidance to $220 mln-$250 mln
Company maintains full-year sales guidance at $2.7 bln-$2.8 bln
Cooper Standard expects operational excellence to offset impact of lower vehicle production
Company acknowledges trade-related uncertainties impacting vehicle production
Result Drivers
EFFICIENCY GAINS - Increased manufacturing and purchasing efficiency drove improvements in adjusted net income and EBITDA
HEADCOUNT INITIATIVES - Savings from past headcount initiatives contributed positively to financial results
NEW BUSINESS AWARDS - Co received $77.1 mln in anticipated future annualized sales related to battery-electric and hybrid vehicle platforms
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
Beat
$706 mln
$687 mln (1 Analyst)
Q2 Adjusted EPS
Beat
$0.06
-$0.06 (1 Analyst)
Q2 Adjusted Net Income
Beat
$1 mln
-$1 mln (1 Analyst)
Q2 Net Income
-$1.40 mln
Q2 Adjusted EBITDA
Beat
$62.80 mln
$57 mln (1 Analyst)
Q2 Gross Profit
$93.05 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the auto, truck & motorcycle parts peer group is "buy"
Wall Street's median 12-month price target for Cooper-Standard Holdings Inc is $29.00, about 16% above its July 30 closing price of $24.36
Press Release: ID:nPnchcPKra
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)