Cooper Standard posts Q2 sales gain but wider net loss on restructuring

Cooper-Standard Holdings Inc. (NYSE: CPS) reported second-quarter 2026 sales of $721.3 million, a 2.2% increase from $706.0 million in the same period a year earlier, driven by favorable foreign exchange and volume and mix, according to a company press release.

The Northville, Mich.-based automotive supplier recorded a net loss of $18.8 million, or $(1.04) per diluted share, in the quarter, compared with a net loss of $1.4 million in the second quarter of 2025. The wider loss included restructuring charges of $17.1 million, up from $2.9 million a year earlier. Excluding special items, the adjusted net loss was $2.3 million, versus adjusted net income of $1.0 million in the prior-year period. Adjusted EBITDA fell to $53.9 million, or 7.5% of sales, from $62.8 million a year ago.

Higher material costs, general inflation, unfavorable volume and mix, and increased customs duties and tariffs drove the year-over-year decline, partially offset by supply chain and manufacturing savings.

Net cash provided by operating activities was $30.1 million in the quarter, compared with a use of $15.6 million in the second quarter of 2025. Free cash flow was $16.3 million, an improvement of $39.7 million year over year. As of June 30, 2026, the company held $126.6 million in cash and equivalents, with total liquidity of $294.2 million.

Net new business awards totaled $118.4 million in the quarter, including $36.6 million tied to battery electric or full-hybrid platforms. For the first half of 2026, net new business awards reached $246.3 million.

The company maintained the midpoint of its full-year adjusted EBITDA guidance at $280 million while tightening the range to $265 million–$295 million from the initial $260 million–$300 million. The full-year sales guidance range of $2.7 billion–$2.9 billion was unchanged. Capital expenditure guidance was raised to $60 million–$70 million, and net cash interest guidance was reduced to $90 million–$100 million.

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