Company: CPS
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001320461-25-000156
Chunk: 112

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 112
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 million on losses before income taxes of $3.8 million compared to an income tax expense of $2.9 million on losses before income taxes of $8.0 million for the three months ended September 30, 2024. The effective tax rate for the three months ended September 30, 2025 differed from the effective tax rate for the three months ended September 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.

Nine Months Ended September 30, 2025 Compared with Nine Months Ended September 30, 2024

Sales

Nine Months Ended September 30,Variance Due To:20252024ChangeVolume/Mix*Foreign Exchange(dollar amounts in thousands)Total sales$2,068,544 $2,070,140 $(1,596)$1,546 $(3,142)

* Net of customer price adjustments, including recoveries.

29

Sales for the nine months ended September 30, 2025 decreased 0.1%, compared to the nine months ended September 30, 2024. The decrease in sales was driven by unfavorable foreign exchange, partially offset by favorable volume and mix, net of customer price adjustments including recoveries. 

Nine Months Ended September 30,Variance Due To:20252024ChangeVolume/Mix*Foreign ExchangeCost Increases/(Decreases)**(dollar amounts in thousands)Cost of products sold$1,811,174$1,849,245$(38,071)$22,815 $(6,463)$(54,424)Gross profit257,370220,89536,475 (21,270)3,321 54,424 Gross profit percentage of sales12.4 %10.7 %

* 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 increased costs from volume and mix, net of recoveries, and higher inflation of labor and overhead. The Company’s direct material content represented approximately 53% and 51% of total cost of products sold for the nine months ended September 30, 2025 and 2024, respectively.

Gross profit for the nine months ended