Earnings Call Summary | Cooper-Standard(CPS.US) Q1 2024 Earnings Conference
Earnings Call Summary | Cooper-Standard(CPS.US) Q1 2024 Earnings Conference
The following is a summary of the Cooper-Standard Holdings Inc. (CPS) Q1 2024 Earnings Call Transcript:
以下是库珀标准控股公司（CPS）2024年第一季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
Cooper-Standard Holdings reported Q1 2024 sales of $676.4 million, a decrease of 0.9% due to divestiture activities.
Gross profit for the first quarter was $61.6 million or 9.1% of sales; an improvement from first quarter 2023's gross profit of $41.8 million or 6.1% of sales.
The company reported an adjusted EBITDA of $29.3 million, up from $12.5 million in the first quarter of the previous year.
Despite a net loss of $31.7 million, this is an improvement from Q1 2023's net loss of $130.4 million.
Expected cost savings lie between $20 million to $25 million due to optimization plans, which could intensify to $40 million to $45 million on a full-year annualised basis next year.
库珀标准控股公司报告称，2024年第一季度销售额为6.764亿美元，下降0.9％，这归因于资产剥离活动。
第一季度的毛利为6,160万美元，占销售额的9.1％；与2023年第一季度的4180万美元毛利或销售额的6.1％相比有所改善。
该公司报告调整后的息税折旧摊销前利润为2930万美元，高于去年第一季度的1,250万美元。
尽管净亏损3,170万美元，但与2023年第一季度的1.304亿美元净亏损相比有所改善。
由于优化计划，预计可节省2,000万至2500万美元的成本，明年全年按年计算可能会增加到4000万至4,500万美元。
Business Progress:
业务进展：
Cooper-Standard marked 97% green on customer scorecards for product quality and 96% green for new program launches.
Through lean initiatives and cost-saving programs, the company saved $19 million.
Achieving $66 million in net new business awards within the first 3 months of 2024 evidences Cooper-Standard's appealing business approach.
The company won Supplier of the Year for General Motors for the seventh consecutive year showcasing its reliable and high-quality supply.
By redefining the operational management structure from a regional to product basis, Cooper-Standard hopes to streamline efficiency and achieve double-digit EBITDA margins by 2025 end.
With initial 2024 revenue projections unmoved, the company anticipates to outpace the markets they serve in automotive revenues.
A company-wide refinancing effort will be implemented in the following year, upon favorable conditions.
By 2025 end, the company aims to revert to their targeted profitability by adjusting its business model.
Cooper-Standard 在产品质量的客户记分卡上标记 97% 为绿色，在新计划启动时标记 96% 为绿色。
通过精益计划和成本节约计划，该公司节省了1900万美元。
在2024年的前3个月内获得的净新业务奖励为6600万美元，这证明了库珀标准具有吸引力的商业方针。
该公司连续第七年获得通用汽车年度供应商奖，这表明了其可靠和高质量的供应。
通过重新定义从区域到产品的运营管理结构，库珀标准希望在2025年底之前简化效率并实现两位数的息税折旧摊销前利润率。
由于2024年最初的收入预测没有变化，该公司预计汽车收入将超过其所服务的市场。
次年将在有利条件下实施全公司范围的再融资计划。
到2025年底，该公司的目标是通过调整其业务模式来恢复其目标盈利能力。
More details: Cooper-Standard IR
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