Company: CPS
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001320461-25-000156
Chunk: 58

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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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 September 30, 2025 increased $36.5 million compared to the nine 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 for the nine months ended September 30, 2025 were $157.8 million, or 7.6% of sales, compared to $157.5 million, or 7.6% of sales for the nine months ended September 30, 2024. Savings realized from restructuring actions and spending reductions initiated in 2024 were largely offset by higher stock-based compensation recorded in the third quarter of 2025, driven by stock price appreciation.

Restructuring Charges. Restructuring