Company: CPS
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001320461-25-000156
Chunk: 56

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 56
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24ChangeVolume/Mix*Foreign Exchange(Dollar amounts in thousands)Total sales$695,502 $685,353 $10,149 $2,439 $7,710 

* Net of customer price adjustments, including recoveries.

Sales for the three months ended September 30, 2025 increased 1.5% compared to the three months ended September 30, 2024. The increase in sales was driven by favorable foreign exchange and volume and mix, net of customer price adjustments including recoveries. 

Gross Profit

Three Months Ended September 30,Variance Due To:20252024ChangeVolume/Mix*Foreign ExchangeCost (Decreases)/Increases**(Dollar amounts in thousands)Cost of products sold$608,361$609,041$(680)$7,772 $6,524 $(14,977)Gross profit87,14176,31210,829 (5,334)1,186 14,977 Gross profit percentage of sales12.5 %11.1 %

* Net of customer price adjustments, including recoveries.

** Net of savings from 2024 restructuring initiatives.

28

Cost of products sold is primarily comprised of direct materials, labor, manufacturing overhead, freight, depreciation and other direct operating expenses. Among these, direct materials represent the largest component, accounting for approximately 52% and 51% of total cost of products sold for the three months ended September 30, 2025 and September 30, 2024, respectively. The change in cost of products sold was impacted by manufacturing and purchasing savings through lean initiatives, and savings from prior year restructuring initiatives, offset by increased costs from volume and mix, net of recoveries, higher inflation of labor and overhead, and unfavorable foreign exchange.

Gross profit for the three months ended September 30, 2025 increased $10.8 million compared to the three months ended September 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, and higher inflation of labor and overhead.

Selling, Administration and Engineering Expenses. Selling, administration and engineering expenses include administrative expenses as well as product engineering and design and development costs. Selling, administration and engineering expenses for the three months ended September 30, 2025 were $55.4 million, or 8.0% of sales,