Company: CPS
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001320461-25-000156
Chunk: 117

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 117
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 our liquidity situation in light of automotive industry, customer and economic factors, and take the necessary actions to preserve our liquidity and evaluate other financial alternatives that may be available to us should the need arise. Our ability to fund our working capital needs, debt payments and other obligations, and to comply with the financial covenants, including borrowing base limitations under our ABL Facility, depends on our future operating performance and cash flows. These may be impacted by many factors outside of our control, including but not limited to industry production levels, the costs of raw materials, the state of the overall automotive industry, general financial and economic conditions, including global trade and tariff policies, work stoppages, and potential public health events. Considering these factors, current projections for light vehicle production and customer demand for our products, we believe that our cash flows from operations, cash on hand, availability under our ABL Facility and receivables factoring will enable us to meet our ongoing working capital requirements, capital expenditures, debt service and other funding requirements for the foreseeable future, despite the challenges facing the industry.

Cash Flows

Operating Activities. Net cash provided by operations was $8.2 million for the nine months ended September 30, 2025, compared to net cash provided by operations of $1.6 million for the nine months ended September 30, 2024. The net change was primarily due to higher net cash earnings year-over-year, partially offset by changes in working capital and an increase in cash interest payments by $12.4 million year-over-year. Working capital was negatively impacted primarily by a larger increase in receivables, reflecting timing of collections from customers during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024.

Investing Activities. Net cash used in investing activities was $33.9 million for the nine months ended September 30, 2025, compared to net cash used in investing activities of $38.7 million for the nine months ended September 30, 2024. The net change was primarily due to proceeds of $2.6 million related to the 2024 divestiture of our non-core Canadian tooling business received during the nine months ended September 30, 2025, as well as lower capital expenditures. Capital expenditures were $36.5 million for the nine months ended September 30, 2025 compared to $39.0 million for the nine months ended September 30, 2024. We expect to maintain disciplined