Cooper Standard Reports Improved First Quarter Results; ROIC Enhancement Initiative Remains On Track
NORTHVILLE, MI / ACCESSWIRE / May 6, 2021 / Cooper-Standard Holdings Inc. (NYSE:CPS) today reported results for the first quarter 2021.First Quarter 2021 SummarySales increased by 2.1 percent to $669.0 million; organic sales growth was 6.3 percentGross profit margin increased by 360 basis points year-over-yearSelling, administrative and engineering expense (SGA&E) as a percent of sales decreased by 210 basis points year-over-yearNet loss narrowed by 69.4 percent to $33.9 million or $(2.00) per diluted share vs. net loss of $110.6 million or $(6.55) per diluted share in the prior year periodAdjusted EBITDA increased by 366 percent year-over-year to $38.5 million or 5.8 percent of sales"Our te
