Cooper-standard Holdings (CPS) Misses Q1 EPS by $1.35

Cooper-standard Holdings (NYSE: CPS) reported Q1 EPS of ($2.16), $1.35 worse than the analyst estimate of ($0.81). Revenue for the quarter came in at $654.9 million versus the consensus estimate of $730 million.

Outlook

The continuing effects and potential future impact of the COVID-19 pandemic have created inordinately high levels of uncertainty in the markets and economies in which we operate. Even as our customers around the world have begun or are beginning to restart operations, there is still significant uncertainty regarding future production levels and consumer demand for light vehicles. In view of this elevated uncertainty, the Company has withdrawn previously provided guidance for 2020 and does not anticipate providing specific financial guidance at least until such time as market conditions normalize.

Based on our current expectations for our customers resuming production, we expect our current strong cash balance and ample access to flexible credit facilities will provide sufficient resources to support ongoing operations and the execution of planned strategic initiatives for the next 12 months.

For earnings history and earnings-related data on Cooper-standard Holdings (CPS) click here.

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