Cooper Standard Q2 adjusted profit beats expectations
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
