Cooper Std Holdings Inc Up 39.83% To $17.80 After Earnings Beat

Friday, November 3, 2023 - Cooper Std Holdings Inc (CPS) reported upside earnings and revenues today.

The consensus among analysts for Cooper Std Holdings Inc was for an earnings per share (EPS) loss of $0.82 per share. The firm was able to surpass those projections, reporting an EPS of $0.85, a positive surprise of $1.67 (204%). Profits rose 150% year-over-year after reporting an EPS loss of $1.71 per share in its year-ago quarter. The positive growth rate signals that the Consumer Cyclical company is performing well amid recent economic conditions.

Consensus estimates for Cooper Std Holdings Inc revenue averaged out to $695 million, with the business managing to beat those expectations with reported third-quarter revenue of $736 million. The $41 million (6%) positive revenue surprise led to 12% growth year-over-year as the firm reported revenue of $657.2 million in its year-ago quarter. The higher earnings growth compared to revenue points to Cooper Std Holdings Inc improving its profit margin.

The stock is up 39.83% to $17.80 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Trading in the five days leading up to the report earned Cooper Std Holdings Inc a Bullish Sentiment Rank from InvestorsObserver.

Cooper Std Holdings Inc has performed a little below average during the past few months. Before the report, Cooper Std Holdings Inc received a Long-Term Technical Rank by InvestorsObserver of 46, putting it in the bottom half of stocks. The firm was recently trading at a 52-week high of $22.74 on August 7, 2023 and set a 52-week low on December 19, 2022 at $5.92.

Cooper-Standard Holdings Inc is a supplier of rubber and resin products for the automotive industry. The company produces rubber and plastic sealings, fuel and brake lines, fluid transfer hoses, and anti-vibration systems used by original equipment manufacturers and replacement markets for passenger vehicles and light trucks. The largest customers include Ford, GM, FCA, Peugeot Citroen, and Volkswagen. Cooper Standard generates the majority of its revenue with its sealing systems products such as Fortrex, dynamic and static seals, stainless steel trims, flush glass systems, and variable extrusions.