Cooper-Standard (CPS) Q1 2026 earnings summary

Executive summary

• Achieved strong operational performance in Q1 2026, with 99% green customer scorecards for quality, 97% for service, and a total incident rate of 0.18 per 200,000 hours.

• Sales increased 2.9% year-over-year to $686.4 million, driven by favorable foreign exchange, partially offset by lower volumes and mix.

• Net loss was $33.3 million, including a $24.2 million loss on debt refinancing and $4.6 million in restructuring charges, compared to net income of $1.6 million in Q1 2025.

• Recognized for sustainability and innovation, including FlexiCore thermoplastic body seal technology and inclusion in USA TODAY's Climate Leaders list.

• Net new business awards reached $128 million in Q1, supporting long-term growth strategy.

Financial highlights

• Q1 2026 sales were $686.4 million, up from $667.1 million year-over-year.

• Gross profit increased to $82.4 million (12.0% margin), up 40bps year-over-year.

• Adjusted EBITDA was $51.0 million (7.4% margin), down from $58.7 million (8.8%) in Q1 2025 due to non-recurring royalty payments.

• Reported net loss of $33.3 million (EPS: -$1.85), compared to net income of $1.6 million (EPS: $0.09) in Q1 2025.

• Free cash flow was negative $93.2 million, compared to negative $32.4 million in Q1 2025.

Outlook and guidance

• Management expects to achieve or exceed full-year 2026 sales and profitability targets, with margin expansion expected to accelerate.

• Formal updated guidance will be provided with Q2 2026 results.

• Targeting over $400 million in net new business awards for 2026.

• Capital expenditures for 2026 projected at $55–$65 million.

• Underlying demand for new light vehicles remains strong, supported by fleet age, population growth, and low inventories.