Company: CPS
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001320461-25-000087
Chunk: 91

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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 helping to offset these cost pressures. In addition, we continue to actively pursue pricing adjustments from our customers to offset higher costs on our current business, where the higher costs are market driven and beyond our immediate control.

23

Results of Operations

 Three Months Ended March 31, 20252024Change(Dollar amounts in thousands)Sales$667,069 $676,425 $(9,356)Cost of products sold589,891 614,782 (24,891)Gross profit77,178 61,643 15,535 Selling, administration & engineering expenses51,191 55,366 (4,175)Amortization of intangibles1,612 1,661 (49)Restructuring charges2,111 1,133 978 Operating income22,264 3,483 18,781 Interest expense, net of interest income(28,619)(29,281)662 Equity in earnings of affiliates1,776 2,270 (494)Other income (expense), net8,884 (3,649)12,533 Income (loss) before income taxes4,305 (27,177)31,482 Income tax expense2,703 4,131 (1,428)Net income (loss)1,602 (31,308)32,910 Net income attributable to noncontrolling interests(50)(352)302 Net income (loss) attributable to Cooper-Standard Holdings Inc.$1,552 $(31,660)$33,212 

Three Months Ended March 31, 2025 Compared with Three Months Ended March 31, 2024 

Sales

Three Months Ended March 31,Variance Due To:20252024ChangeVolume/Mix*Foreign Exchange(Dollar amounts in thousands)Total sales$667,069 $676,425 $(9,356)$5,736 $(15,092)

* Net of customer price adjustments, including recoveries.

Sales for the three months ended March 31, 2025 decreased 1.4% compared to the three months ended March 31, 2024. The decrease in sales was driven by the negative impact of foreign exchange, partially offset by favorable volume and mix, net of customer price adjustments including recoveries.

Gross Profit

Three Months Ended March 31,Variance Due To:20252024ChangeVolume/Mix*Foreign ExchangeCost (