Company: CPS
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001320461-25-000131
Chunk: 6

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 2
Chunk 6
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 the termination of the aforementioned U.S. pension plan. See Note 9. “Pensions and Postretirement Benefits Other Than Pensions” to the unaudited condensed consolidated financial statements included in Part I, Item 1 of this Report for additional information.

Other Expense, Net. Other expense, net, for the three months ended June 30, 2025 decreased $1.5 million compared to the three months ended June 30, 2024. The decrease was primarily driven by lower foreign currency losses.

Income Tax Expense. Income tax expense for the three months ended June 30, 2025 was $8.1 million on earnings before income taxes of $6.6 million compared to an income tax expense of $8.1 million on losses before income taxes of $68.1 million for the three months ended June 30, 2024. The effective tax rate for the three months ended June 30, 2025 differed from the effective tax rate for the three months ended June 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.

Six Months Ended June 30, 2025 Compared with Six Months Ended June 30, 2024

Sales

Six Months Ended June 30,Variance Due To:20252024ChangeVolume/Mix*Foreign Exchange(dollar amounts in thousands)Total sales$1,373,042 $1,384,787 $(11,745)$(893)$(10,852)

* Net of customer price adjustments, including recoveries.

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Sales for the six months ended June 30, 2025 decreased 0.8%, compared to the six months ended June 30, 2024. The decrease in sales was driven by unfavorable foreign exchange and the negative impact of volume and mix, net of customer price adjustments including recoveries.

Six Months Ended June 30,Variance Due To:20252024ChangeVolume/Mix*Foreign ExchangeCost Increases/(Decreases)**(dollar amounts in thousands)Cost of products sold$1,202,813$1,240,204$(37,391)$15,043 $(12,987)$(39,447)Gross profit170,229144,58325,646 (15,936)2,135 39,447 Gross profit percentage of sales12.4