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Dec 31, 2019
Cooper Standard Q4 2019 Earnings Report
Reported a loss in Q4 2019 due to weak light vehicle production and commercial pressures in Asia.
Key Takeaways
Cooper Standard reported a net loss of $67.4 million for the fourth quarter of 2019. Weak light vehicle production and commercial pressures in Asia negatively impacted financial results. Despite these challenges, the company generated positive free cash flow.
Net new business awards totaled $191 million in the quarter.
Contract awards related to the Company’s innovation products totaled $104 million in the quarter.
The company successfully conducted 73 new launches of customer programs, an increase of 30 percent over the same period a year ago.
Fourth quarter cash from operating activities was $68 million and free cash flow was $34 million.
Forward Guidance
Based on the outlook for the global automotive industry, macroeconomic conditions, current customer production schedules and the company's own operating plans, including the estimated first quarter impact of the coronavirus outbreak in China, the Company has issued 2020 full year guidance.
Positive Outlook
- Sales $2.85 - $3.05 billion
- Adjusted EBITDA $150 - $185 million
- Free Cash Flow Positive
Challenges Ahead
- Capital Expenditures $140 - $150 million
- Cash Restructuring $30 - $40 million
- Cash Taxes $10 - $15 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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