Cooper Standard — Q3 2026 Earnings Summary

Financial Performance:

• Sales for the third quarter of 2026 were $708.6 million, a 1.9% increase compared to $695.5 million in the third quarter of 2025.
• Net loss for the third quarter of 2026 was $20.4 million ($1.13 per diluted share), compared to a net loss of $7.6 million ($0.43 per diluted share) in the prior year quarter.
• Adjusted net loss for the third quarter of 2026 was $2.1 million ($0.11 per diluted share), compared to an adjusted net loss of $4.4 million ($0.24 per diluted share) in the prior year quarter.
• Adjusted EBITDA for the third quarter of 2026 was $52.8 million (7.5% of sales), compared to $53.3 million (7.7% of sales) in the prior year quarter.
• Net cash provided by operating activities for the third quarter of 2026 was $5.2 million, compared to $38.6 million in the prior year quarter.
• Free cash flow for the third quarter of 2026 was an outflow of $10.8 million, compared to an inflow of $27.4 million in the prior year quarter.
• For the nine months ended September 30, 2026, sales were $2,116.3 million compared to $2,068.5 million in the prior year period.
• Net loss for the nine months ended September 30, 2026, was $72.6 million, compared to a net loss of $7.5 million in the prior year period.
• Adjusted net loss for the nine months ended September 30, 2026, was $9.6 million, compared to adjusted net income of $0.1 million in the prior year period.
• Adjusted EBITDA for the nine months ended September 30, 2026, was $157.8 million, compared to $174.7 million in the prior year period.
• Net cash used in operating activities for the nine months ended September 30, 2026, was $33.8 million, compared to $8.2 million provided in the prior year period.
• Free cash flow for the nine months ended September 30, 2026, was an outflow of $87.6 million, compared to an outflow of $28.3 million in the prior year period.
• Restructuring charges for the third quarter of 2026 were $19.2 million, compared to $3.5 million in the prior year quarter.
• Restructuring charges for the nine months ended September 30, 2026, were $40.9 million, compared to $8.5 million in the prior year period.

Guidance and Future Outlook:

• The Company adjusted its full-year 2026 sales guidance to $2.75 - $2.85 billion, down from the prior guidance of $2.7 - $2.9 billion.
• The Company adjusted its full-year 2026 adjusted EBITDA guidance to $235 - $245 million, down from the prior guidance of $265 - $295 million.
• The Company adjusted its full-year 2026 capital expenditures guidance to $65 - $70 million, up from the prior guidance of $60 - $70 million.
• The Company adjusted its full-year 2026 net cash taxes guidance to $15 - $20 million, down from the prior guidance of $30 - $35 million.
• The Company adjusted its full-year 2026 key light vehicle production assumptions: North America (15.0 million vs. 15.1 million), Europe (17.2 million vs. 16.9 million), Greater China (31.0 million vs. 31.6 million), and South America (3.2 million vs. 3.1 million).
• The Company expects commodity costs and production volumes to stabilize over time, driving sustainable value through profitable growth and margin enhancement.
• Key value drivers include expanding relationships with new customers, launching new innovative programs, enhancing index-based commercial agreements, and optimizing the global manufacturing footprint.
• The Company believes it has sufficient financial resources to support ongoing operations and strategic initiatives, citing $112.3 million in cash and cash equivalents and total liquidity of $305.4 million as of September 30, 2026.

Business Segments and Product Lines:

• Sealing systems sales for the third quarter of 2026 were $350.3 million, compared to $348.8 million in the prior year quarter.
• Fluid handling systems sales for the third quarter of 2026 were $335.1 million, compared to $328.6 million in the prior year quarter.
• Sealing systems adjusted EBITDA for the third quarter of 2026 was $29.0 million, compared to $30.9 million in the prior year quarter.
• Fluid handling systems adjusted EBITDA for the third quarter of 2026 was $32.0 million, compared to $29.0 million in the prior year quarter.
• Net new business awards for the third quarter of 2026 totaled $148.8 million, including $28.2 million associated with battery electric or full-hybrid platforms.
• Net new business awards for the first nine months of 2026 totaled $395.1 million, including $96.6 million associated with battery electric or full-hybrid platforms.

Market and Competitive Landscape:

• Global light vehicle production volumes were down 2.3% in the third quarter of 2026 compared to the prior year quarter.
• Sales growth was driven by favorable volume, mix, and price adjustments despite the decline in global light vehicle production.
• The Company continues to capitalize on positive global trends associated with hybrid and battery electric vehicles.
• The Company leverages world-class engineering, manufacturing capabilities, innovation programs, and a reputation for quality and service to win new business awards.

Risks and Challenges:

• Headwinds from commodity prices and general inflation remained greater than expected in the third quarter of 2026.
• Increased material costs, general inflationary pressures, and unfavorable volume and mix partially offset improvements in compensation expenses, manufacturing efficiencies, SGA&E expense, and customs/duties/tariffs.
• The Company is working with customers to refine commercial agreements and accelerate the timing of cost recoveries.

Management Commentary and Tone:

• Jeffrey Edwards, Chairman and CEO, stated the Company is continuing to leverage strong customer relationships to book new business awards at a record pace.
• Management noted that overall average contribution margins remain consistent with longer-term strategic plans and targets.
• Management expects actions to refine commercial agreements and accelerate cost recoveries will further de-risk the business and enable greater long-term value creation.

Other Key Points:

• As of September 30, 2026, the Company had cash and cash equivalents totaling $112.3 million.
• Total liquidity, including availability under the amended senior asset-based revolving credit facility, was $305.4 million at the end of the third quarter of 2026.
• The Company's long-term debt increased to $1,100.4 million as of September 30, 2026, from $1,018.5 million as of December 31, 2025.
• Debt payable within one year decreased to $45.6 million as of September 30, 2026, from $86.1 million as of December 31, 2025.
• Total assets were $1,900.8 million as of September 30, 2026, compared to $1,833.2 million as of December 31, 2025.
• Total liabilities were $2,066.1 million as of September 30, 2026, compared to $1,924.8 million as of December 31, 2025.
• Total equity was negative $165.3 million as of September 30, 2026, compared to negative $91.6 million as of December 31, 2025.
• The Company hosts a conference call and webcast on November 5, 2026, at 9 a.m. ET to discuss results.
• The Company has approximately 22,000 team members across locations in 20 countries.