Company: CPS
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001320461-25-000131
Chunk: 111

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 111
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 30, 2024 primarily due to the geographic mix of pre-tax losses, the inability to record a tax benefit for pre-tax losses in the U.S. and certain foreign jurisdictions due to valuation allowances and other permanent items.

Six Months Ended June 30, 2025 Compared with Six Months Ended June 30, 2024

Sales

Six Months Ended June 30,Variance Due To:20252024ChangeVolume/Mix*Foreign Exchange(dollar amounts in thousands)Total sales$1,373,042 $1,384,787 $(11,745)$(893)$(10,852)

* Net of customer price adjustments, including recoveries.

29

Sales for the six months ended June 30, 2025 decreased 0.8%, compared to the six months ended June 30, 2024. The decrease in sales was driven by unfavorable foreign exchange and the negative impact of volume and mix, net of customer price adjustments including recoveries.

Six Months Ended June 30,Variance Due To:20252024ChangeVolume/Mix*Foreign ExchangeCost Increases/(Decreases)**(dollar amounts in thousands)Cost of products sold$1,202,813$1,240,204$(37,391)$15,043 $(12,987)$(39,447)Gross profit170,229144,58325,646 (15,936)2,135 39,447 Gross profit percentage of sales12.4 %10.4 %

* Net of customer price adjustments, including recoveries.

** Net of savings from 2024 restructuring initiatives.

The change in cost of products sold was impacted by manufacturing and purchasing savings through lean initiatives, favorable foreign exchange and savings from prior year restructuring initiatives, partially offset by unfavorable volume and mix, net of recoveries, higher inflation of labor and overhead, and increased tariff expense. The Company’s material portion of cost of products sold was approximately 53% and 51% of total cost of products sold for the six months ended June 30, 2025 and 2024, respectively.

Gross profit for the six months ended June 30, 2025 increased $25.6 million compared to the six months ended June 30, 2024. The change was driven by manufacturing and purchasing savings through lean initiatives, savings from prior year restructuring initiatives and favorable foreign exchange, partially offset by unfavorable volume and mix, net of recoveries, higher inflation of labor and overhead, and