Cooper Standard Second Quarter Gross Profit Ramps Higher; Further Margin Expansion Expected in Second Half of the Year
CPSCooper Standard(CPS) Prnewswire·2024-08-02 04:44

NORTHVILLE, Mich., Aug. 1, 2024 /PRNewswire/ -- Cooper-Standard Holdings Inc. (NYSE: CPS) today reported results for the second quarter 2024.Second Quarter 2024 SummaryGross profit totaled 82.9million,anincreaseof6.782.9 million, an increase of 6.7% compared to second quarter 2023Net loss of 76.2 million, or (4.34)perdilutedshare,wasnegativelyimpactedbyaone−timenon−cashpensionsettlementchargeandrestructuringexpenseAdjustednetlossof(4.34) per diluted share, was negatively impacted by a one-time non-cash pension settlement charge and restructuring expenseAdjusted net loss of 11.3 million, or $(0.64) per diluted share, improved by 43.5% vs. the second qua ...