Cooper Standard reported improved fourth-quarter results, with a 60% improvement in net loss and a significant increase in adjusted EBITDA. The company's cost reduction and strategic initiatives drove these improvements, positioning it for further growth in 2021 and beyond.
Net loss improved by 60% to $27.2 million, or $(1.61) per fully diluted share.
Adjusted net income improved to $3.3 million, or $0.19 per fully diluted share.
Adjusted EBITDA totaled $57.0 million, a 122% increase over Q4 2019.
Year-end cash balance was $438 million, with total liquidity of $589 million.
The Company has issued 2021 full year guidance as follows: Sales $2.5 - $2.7 billion Adjusted EBITDA $180 - $200 million Capital Expenditures $100 - $125 million Cash Restructuring $50 - $55 million Cash Taxes $10 - $15 million
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