In This Article:
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Fourth Quarter Sales: $660.8 million, a decrease of 1.9% compared to Q4 2023.
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Adjusted EBITDA (Q4 2024): $54.3 million, 8.2% of sales, an increase of 96.8% from Q4 2023.
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Net Income (Q4 2024): $40.2 million on a GAAP basis.
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Adjusted Net Loss (Q4 2024): $2.9 million or $0.16 per diluted share.
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Full Year Sales (2024): $2.7 billion, a decrease of 3% from 2023.
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Adjusted EBITDA (Full Year 2024): $180.7 million, up from $167.1 million in 2023.
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Net Loss (Full Year 2024): $78.7 million on a GAAP basis.
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Adjusted Net Loss (Full Year 2024): $56.7 million or $3.23 per diluted share.
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CapEx (2024): $50.5 million, 1.8% of sales.
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Free Cash Flow (Q4 2024): $63.2 million.
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Free Cash Flow (Full Year 2024): $25.9 million.
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Cash on Hand (End of 2024): $170 million.
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Total Liquidity (End of 2024): Nearly $340 million.
Release Date: February 14, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Cooper-Standard Holdings Inc (NYSE:CPS) achieved a 52% improvement in operating income for the year, despite challenges such as lower production volumes and unfavorable foreign exchange.
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The company reported significant cost savings of $76 million from efficiency improvements and $24 million from job reduction actions.
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Cooper-Standard Holdings Inc (NYSE:CPS) achieved a world-class safety incident rate of 0.3 per 200,000 hours worked, surpassing previous records.
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The company received numerous awards for product quality and customer service, reflecting its commitment to operational excellence.
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Cooper-Standard Holdings Inc (NYSE:CPS) ended the year with strong liquidity, having $340 million in total liquidity, and expects positive free cash flow in 2025.
Negative Points
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Sales for the fourth quarter of 2024 decreased by 1.9% compared to the same period in 2023, impacted by weaker production volumes and unfavorable foreign exchange.
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The company recorded an adjusted net loss of $2.9 million for the fourth quarter of 2024, despite improvements from the previous year.
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Full-year sales in 2024 decreased by 3% compared to 2023, driven by unfavorable volume and mix, divestitures, and foreign exchange.
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Cooper-Standard Holdings Inc (NYSE:CPS) faced $43 million in higher costs due to unfavorable foreign exchange and $34 million in higher wages and general inflation.
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The company anticipates continued weak production volumes in 2025, with global light vehicle production expected to decline further.
Q & A Highlights
Q: On Slide 16, you mentioned that the content per vehicle in fluid handling would be up 30% in the next five years. Is there any guidance as to what content for vehicle and sealing will be? A: The fluid business will continue to climb as hybrid and electric vehicles become more predominant. For sealing, it's consistent across powertrains, but there are opportunities for higher-tech sealing systems in electric vehicles, particularly for noise management. Overall, sealing content per vehicle remains consistent, but there's potential for growth due to our technology.