Cooper-Standard Holdings Inc. (CPS) is a leader in the international supply of sealing and fluid handling platforms and mechanisms. The company uses its materials science and production skill for the development of novel engineered solutions for various transportation and other markets.
The price of CPS stock during regular trading on March 4, 2022, was $10.6 with a dip of 3.28%. At last check in the aftermarket, the stock plunged further by 7.34%.
CPS: Events and Happenings
On March 4, 2022, S&P Dow Jones Indices updated on the replacement of Cerence Inc. with the CPS in the S&P SmallCap 600 with effect from the same date. Also, on March 4, CPS reported the filing of Form 4 or a statement of changes in beneficial ownership of securities with the SEC. The company’s employee bought 77846 total shares for $110,900 for 11.09 per share.
On March 2, 2022, CPS announced its senior program engineering manager, Angela Greiner, had been nominated as one of the 2022 STEP Ahead Honorees by The Manufacturing Institute. She was recognized for her achievements in bringing novel technologies to the manufacturing platform and providing outstanding quality levels.
CPS: Key Financials
On February 17, 2022, CPS released its unaudited financial statement for the fourth fiscal quarter ended 2021. Some of the major updates are mentioned below.
Net Sales
Net sales in Q4 2021 were $601 million versus $696 million in the same period in 2020. The company observed a decline of $95 million in its net sales over the yearly period. Also, it topped the sales estimates by $6.6 million.
EPS
Basic and diluted net loss per share in Q4 2021 was $104 million or $5.98 against $27.6 million or $1.61 in the same quarter in 2020. The observed a considerable decline in its earnings over the year. Also, it missed the analyst’s expectations of EPS by -$2.84.
On December 9, 2021, CPS informed the press that it was nominated to Newsweek’s list of ‘Most Responsible Companies of US’ for the third consecutive year.
Conclusion
CPS stock is at a new low in the past year as it plunged by 71% in this period. The company’s stock is continuously sinking in the current aftermarket session likely as a consequence of the recent SEC filing of Form 4. For the first fiscal quarter of 2022, the company expects revenue of $608 million versus EPS -$2.93.
