COOPER STANDARD HL.DL-,01

Cooper-Standard has signed an amendment to its asset-based lending agreement that raises commitments by $20 million to $200 million, extends the maturity to Sept. 3, 2031, and reduces credit margins on SOFR/CORRA- and Prime-based loans. The new agreement allows allocations between U.S. and Canadian facilities, eliminates certain credit-spread adjustments for SOFR/CORRA loans, and was executed with Bank of America as agent. The company carries total debt of $1.24 billion and reported an adjusted loss of $0.13 per share for Q2 2026, on revenue of $721.3 million, slightly above expectations. » Mere på de.investing.com

At the J.P. Morgan Automotive Conference, Cooper Standard reported stable revenue momentum in Q2 but an EBITDA margin reduced by about $18 million due to higher oil and metal prices. Indexed price contracts effective since July 1 are expected to offset most of these losses by the end of 2024 and led to confirmation of the full-year guidance with a slightly narrower range. The company is reducing its dependence on North American OEMs, growing especially in China, sees potential from electrification and AI-driven cost reductions, and is targeting a long-term 15% EBITDA margin and significantly lower leverage. » Mere på de.investing.com

Cooper Standard reported a net loss of $18.8 million for the second quarter on revenue that rose 2.2% to $721.3 million. Adjusted net income was a loss of $2.3 million and adjusted EBITDA fell to $53.9 million, weighed down by higher material costs, inflation, an unfavorable volume and product mix, and increased tariffs. Operating cash flow was $30.1 million, free cash flow $16.3 million, and the company secured net new orders of $118.4 million, of which $36.6 million were for battery-electric or full-hybrid projects. Cooper Standard confirmed the mid-point for adjusted EBITDA, narrowed the range to $265–295 million, left revenue guidance at $2.7–2.9 billion, and adjusted its capex as well as restructuring and net interest payment forecasts. » Mere på de.investing.com