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Dec 31, 2022
Cooper Standard Q4 2022 Earnings Report
Reported results for the fourth quarter and full year, providing guidance for an improved full-year outlook.
Key Takeaways
Cooper Standard's Q4 2022 sales increased by $48.0 million compared to Q4 2021, with a net loss of $88.1 million, an improvement of $14.1 million. The company's adjusted EBITDA increased by $25.6 million to $27.6 million. The company successfully concluded refinancing transactions that extended the maturity of the majority of its outstanding long term debt to 2027.
Sales of $649.3 million, an increase of $48.0 million compared to fourth quarter 2021.
Net loss of $88.1 million or $(5.12) per fully diluted share, improved by $14.1 million compared to fourth quarter 2021.
Adjusted net loss of $31.9 million, or $(1.85) per fully diluted share, improved by $18.4 million compared to fourth quarter 2021.
Adjusted EBITDA of $27.6 million increased by $25.6 million as compared to fourth quarter 2021.
Forward Guidance
The Company has issued 2023 full year guidance.
Positive Outlook
- Sales $2.6 - $2.8 billion
- Adjusted EBITDA $150 - $175 million
- Capital Expenditures $70 - $80 million
- Cash Restructuring $35 - $40 million
- Cash Interest $50 - $55 million
Challenges Ahead
- Key Light Vehicle Productions Assumptions (Units) North America 15.1 million
- Europe 16.5 million
- Greater China 26.6 million
- South America 3.0 million
- Net Cash Taxes $10 - $20 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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