Cooper Standard Third Quarter 2023 Earnings Presentation
Outlook: Expect Continuing Y-O-Y Improvement in 4Q 2023;
Full-year Results Near High End of Previous Guidance Range
Previous 2023 Guidance¹
(August 2023)
Current 2023 Guidance¹
Sales
$2.6 $2.8 billion
$2.7 $2.8 billion
•
Adj. EBITDA²
$150 $175 million
$165 $180 million
Capital Expenditures
$70 $80 million
$70 - $80 million
Key Company
Measures
Cash Restructuring
$20 $25 million
$15 $20 million
.
Cash Interest
$50 $55 million
$50 $55 million
Net Cash Taxes
$10 - $20 million
$8 - $12 million
North America
15.5
15.2
•
Light Vehicle
Production
(Million Units)
Europe
17.4
17.7
•
Greater China
26.6
27.9
South America
2.8
2.9
Cooper Standard
Key Performance Drivers and Assumptions:
Continued modest increases in
global light vehicle production volume
-
Current full-year forecast: 88.6m units
globally; North America lowered to 15.2m
units due to union work stoppage
Moderating inflationary pressures and
stable consumer demand
Global oil production cuts, tight labor
availability in certain markets and
geopolitical uncertainties are risks
Successful completion of remaining
commercial agreements
Continued world-class manufacturing
and customer service
1 Guidance is representative of management's estimates and expectations as of the date it is published. Current guidance as presented in this press release considers October 2023 S&P Global (IHS
Markit) production forecasts for relevant light vehicle platforms and models, customers' planned production schedules and other internal assumptions.
2 Adjusted EBITDA is a non-GAAP financial measure. The Company has not provided a reconciliation of projected adjusted EBITDA to projected net income (loss) because full-year net income (loss) will
include special items that have not yet occurred and are difficult to predict with reasonable certainty prior to year-end. Due to this uncertainty, the Company cannot reconcile projected adjusted EBITDA to
U.S. GAAP net income (loss) without unreasonable effort.
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