Earnings

Cooper-Standard Cuts 2026 Adjusted EBITDA Outlook

The Tip Desk · November 5, 2026 · 3 min read

The supplier now sees full-year adjusted EBITDA of $235 million to $245 million after $148.8 million of third-quarter awards.

Cooper-Standard Holdings Inc. (CPS) lowered its full-year 2026 adjusted EBITDA outlook to $235 million to $245 million from $265 million to $295 million, citing near-term commodity costs and inflation that remained higher than previously expected.

The global supplier of sealing and fluid handling systems said the cut followed actual results in the first nine months. Sales guidance was narrowed to $2.75 billion to $2.85 billion from $2.7 billion to $2.9 billion. Capital expenditures were lifted to $65 million to $70 million. Net cash taxes were reduced to $15 million to $20 million. Cash restructuring and net cash interest were left unchanged.

In the third quarter, sales were $708.6 million, up 1.9% from a year earlier, even as global light vehicle production volumes fell 2.3%. The company attributed the increase primarily to favorable volume, mix and price adjustments.

Net loss widened to $20.4 million, or $(1.13) a share, from a $7.6 million loss, or $(0.43) a share, a year earlier. Restructuring charges were $19.2 million versus $3.5 million. Excluding those special items and related tax, adjusted net loss narrowed to $2.1 million, or $(0.11) a share, from $4.4 million, or $(0.24) a share. The company said the year-over-year improvement was driven primarily by lower compensation, manufacturing and purchasing efficiencies, lower selling, administration and engineering expense, and lower customs, duties and tariffs, partially offset by higher material costs, inflation, and unfavorable volume and mix.

Adjusted EBITDA was $52.8 million, or 7.5% of sales, versus $53.3 million, or 7.7% of sales, a year earlier. The company said the same cost and inflation mix applied.

Chairman and CEO Jeffrey Edwards said the company continued to book awards at a record pace, with average contribution margins consistent with longer-term plans. He said commodity and inflation headwinds remained greater than expected and that Cooper Standard was working with customers to refine commercial agreements and accelerate cost recoveries.

Net new business awards totaled $148.8 million in anticipated incremental future annualized sales in the quarter, including $28.2 million associated with battery electric or full-hybrid platforms. For the first nine months, awards totaled $395.1 million, including $96.6 million on electric or full-hybrid platforms.

Sealing systems sales were $350.3 million. Fluid handling systems sales were $335.1 million. Sealing systems adjusted EBITDA was $29.0 million. Fluid handling systems adjusted EBITDA was $32.0 million, which the company attributed in part to an $11.2 million volume/mix decline and a $15.6 million cost decrease that included savings from restructuring initiatives.

Net cash provided by operating activities was $5.2 million. Free cash flow was an outflow of $10.8 million. Cash and cash equivalents were $112.3 million as of September 30. Total liquidity, including availability under the amended senior asset-based revolving credit facility, was $305.4 million. The company said it believes it has sufficient financial resources to support operations and planned strategic initiatives for the foreseeable future.

2026 light-vehicle production assumptions were adjusted: North America to 15.0 million units, Europe to 17.2 million, Greater China to 31.0 million, and South America to 3.2 million. The company said it is well positioned to continue driving value as commodity costs and production volumes stabilize, pointing to new customers, program launches, index-based commercial agreements, and further manufacturing-footprint actions.

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