Loading...
•
Mar 31, 2020
Cooper Standard Q1 2020 Earnings Report
Cooper Standard reported a net loss for Q1 2020, impacted by the COVID-19 pandemic, but maintained a strong cash balance and secured new business awards.
Key Takeaways
Cooper Standard reported a challenging first quarter in 2020, with sales totaling $654.9 million and a net loss of $110.6 million, or $(6.55) per diluted share. The results were significantly impacted by the COVID-19 pandemic, which caused customer operations to idle and disrupted the company's operations. Despite these challenges, Cooper Standard maintained a strong cash balance of $301.8 million at the end of the quarter and secured $82 million in net new business awards.
Sales totaled $654.9 million.
Net loss was $110.6 million, or $(6.55) per diluted share.
Adjusted EBITDA was $8.3 million, or 1.3 percent of sales.
Cash balance remained strong at $301.8 million at quarter end.
Forward Guidance
Due to the uncertainty caused by the COVID-19 pandemic, Cooper Standard has withdrawn its previously provided guidance for 2020 and does not anticipate providing specific financial guidance until market conditions normalize. The company expects its strong cash balance and access to credit facilities will provide sufficient resources to support operations and strategic initiatives for the next 12 months.
Positive Outlook
- Current strong cash balance.
- Ample access to flexible credit facilities.
- Sufficient resources to support ongoing operations.
- Execution of planned strategic initiatives.
- Customers resuming production.
Challenges Ahead
- Continuing effects of the COVID-19 pandemic.
- Potential future impact of the COVID-19 pandemic.
- High levels of uncertainty in the markets.
- Significant uncertainty regarding future production levels.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...