CPS - Earnings call transcript Q1 2024 | Cooper-Standard Holdings Inc.

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Operator

Good morning, ladies and gentlemen, and welcome to the Cooper Standard First Quarter 2024 Earnings Conference Call.

During the presentation, all participants will be in listen-only mode.

Following company's prepared comments, we will conduct a question-and-answer session. At that time, if you have a question. [Operator Instructions].

conference available being website on later this webcast and for reminder, today. be will the a call recorded, is the replay As Cooper Standard Hendriksen, the now over to would Investor turn I to like Roger Director of Relations. call Please ahead. go

Roger Hendriksen

Executive everyone. good this Chairman The time with today. and appreciate you of you and be morning speaking our Edwards, leadership Officer; on Thanks, to morning, taking Chief Executive our call join are Banas, Clay, Jeff Vice and Financial We Chief and will the call members the Jon team who President Officer.

begin, to I Before that we statements. need this forward-looking presentation contains you remind

While they and currently factual management believes and are to be uncertainties. certain statements current risks information assumptions reasonable, and involve that based made plans these on do

the the to ask appendix Commission. forward-looking you filings to financial of contains call the of With formalities those presentation we measures. measures presentation. statements more X Slide the Exchange Edwards. I'll in on directly periodic of non-GAAP turn Jeff included out presentation in to their comparable measures over and This For this Securities the included information refer the and with Reconciliations non-GAAP also financial way, the company's GAAP are to that statements, most

Jeffrey Edwards

business Thanks, the the How first our Roger, an outlook and our you good going morning, appreciate to and opportunity provide on everyone. update review doing? We quarter and forward. results

some to our are begin, in commitment first to values. operational reflective strong So continued highlight data company key our to points core Slide like I'd we of X, quarter that believe on excellence

green scorecards in XX% quality, product In terms of customer our were the quarter. of

our customer For new launches, were scorecards XX%. program

value performance, outstanding achieve and deliver us is to customers. to our this continue we to allowing operational So exceptional

of addition, our to excellent safety the performance as well. plants be In continues

recognize a XX that safety well Leading for perfect X had at leadership goal were had our rate of plants benchmark safety the strive entire their the the record months per for to hours incidents teams XXX,XXX the for first the quarter, X.XX want and I incidents these incident incidents plants through below performance commitment X.XX. this continue company. X worked. ultimate During the outstanding safety That's of as we of reportable X of we to the world-class total first of year. a ongoing

In gross terms of a delivering had of teams solid enhanced solid savings compared us manufacturing $XX through efficiency by purchasing XXX our with another first enabled cost lean improved million profit of optimization, other year. margin and the with last quarter commercial we initiatives programs. agreements, improve basis our and points This combined to quarter cost-saving our to

more we we to to our profitability make While continue do, targets. have toward progress work

world-class technical we're capabilities Finally, new continuing service, leverage award-winning and win business. to innovations to our

awarded business X $XX were XXXX, first the we awards. in of new net months During million

we to vehicles. Importantly, their partner including of to most and electric important our battery technologies with some ICE, vehicle design hybrid continue and customers for develop new platforms, new

pleased technology I the global Supplier coveted industry. the once Turning be of the General in probably as relationships, are to very receive. Slide service our think Motors, customers, and of Year one and product awards value world-class frequently again customer a another X, our our most indication top of and for one of We're we service to named awards

business that our certainly look and topics, transparency, that way we to might the a award, the integrity during year what relationship covers on products, in among report. just a consecutive we again commitment our going expanding honesty, performance, publishing forward. that pleased the We're service, few doing hope citizen first range share. forward more is and the including who past any and performance to is and the an might the weeks, others. governance the our are. or providing feedback and This says reflective a even read while presented Slide continuing once products, wide with technology and them X, customers with continual world-class environmental quarter, maintaining stewardship, do, received a award right to responsibility this announce annual we you will year. opportunity corporate to We with uncompromised provide report and that's it's that It corporate good focus throughout financial of to you through will of announced being we was corporate award prestigious take have While about our you we've be our like annual GM seventh

company input be we as solutions creating sustainable Your to purpose helpful will our us strive together. of toward

financial let to the details over of John call Now me the quarter. turn review to the

Jonathan Banas

good Jeff, some and In discuss the of liquidity provide everyone. results quarter few next slides, and morning, our on financial sheet. for Thanks, our balance flows, aspects details I'll and cash our the

believe our Before you from may year, our of to we it this management increase geographic press get product release, the creation rather as the reporting going forward. value effective former basis operating structure in help line and more structure efficient, will Jeff I into to minutes. beginning have seen few changed basis. this segments financials, a We will more a and us the be the in talk new than we about expect

XXXX period our results. summary results of looking show quarter the On to at year. comparisons first last Slide of quarter's first X, the a with Now the for we same

Europe of slight first was third divestiture a of decrease compared and First in stake quarter quarter the $XXX.X smaller by joint XXXX. of decrease year quarter in were to Asia. during in our million, the The of divestiture a technical X.X% our last of venture by a primarily business the driven XXXX sales rubber

in This million million production. impact gross sales as the a last $XX.X energy by to million $XX.X net of driven first $XXX for for all a Excluding inflation XXXX. in the to profit of XXXX. well sales costs automotive first $XX.X these of divestitures, have quarter areas of sales On year-over-year improvement profit volume first year the loss X.X% of compared first in of million Gross was outpacing XXXX. the as compares which first that $XX a global our quarter been of represented and to would chain, $XX.X quarter million. mix, was foreign ongoing for of of was savings X.X% in million favorable manufacturing year-over-year, primarily impact The of would X% compared the the commercial million such loss of of the in million by Adjusted GAAP unfavorable for and year. sales in XXXX basis, $XX.X was achieved the in basis, first headwinds quarter U.S. Net around up of have labor net quarter and EBITDA quarter quarter been or last supply quarter first sales. On or lean partially exchange. offset enhanced the quarter and as the the $XXX.X agreements the

As our a results quarter refinancing included significant you on extinguishment will recall, debt. for of of loss the and first XXXX

quarter per this per compared loss items $XX.X adjusted net XXXX. and $X.XX related tax from of was share adjusted and diluted quarter other or million the or $XX.X Excluding the net loss first first of impact $X.XX special XXXX for million in diluted of the to share both periods,

in or of the X.X% last $XX.X first expenditures of of quarter million first capital quarter the $XX.X totaled X.X% sales year. sales million to for or Our compared

capital focused remain investments, customer We maximizing discipline continue which have to on primarily returns launch and invested around on capital. readiness

Slide provide for our impacting charts the to XX quantification XX. results and Moving Slide the quarter. The on of insights additional key factors

XXXX. net the The by customer technical mix, versus and including revenue, $XX last and by euro foreign in price reduced volume divestiture the year. net from For to impact quarter and the favorable RMB the further million $X increased quarter sales related Chinese period same first versus rubber mainly $X the of was million sales a adjustments, exchange, million the

and and purchasing inflation, by For of and profit benefit quarter other and volume other a adjusted EBITDA, cost year-over-year. as of salaries cost amounting a price of zloty million million Polish peso were dollar. drove against Favorable Mexican the foreign including $X U.S. exchange, and the $XX partially transportation offset net quarter for combined strengthening unfavorable mix primarily lean $XX further manufacturing were material wages, These $X improvement million. as the contributed the to initiatives $X of improvements well contributors to adjustments recoveries positive the and another related energy, costs million the in general and in million

Moving to Slide XX.

in In the earnings. as in million terms of used operating and offset seasonal of capital liquidity. the cash XXXX Cash working activities cash improved and compensation-related timing payments $XX flow changes first approximately was quarter of in

CapEx with the approximately of million we $XXX earlier, first of million. solid remained net cash million $XXX was had million million. approximately a balance of our liquidity total XX free quarter with cash of ended outflow approximately of the resulting ABL, $XXX a quarter on in first XX, XXXX, mentioned $XX March of We As in which XXXX. undrawn, Combined as around availability

to reduction initiatives commercial benefit our improve improving value Based our foreseeable agreements an year. further continuing expectations to need long the production, are executing business for we have our the to to the The initiatives to facilities, agreement based cost full and extended expect cash of vehicle continue we over and ABL on we with company, we liquidity financial our that And growth flexibility on execute enhanced announce believe the position, we and have plans for generate the sufficient we positive flow the free on growth ensures credit for and our signed and current customers, pursue XXXX. current term term. outlook, just outlook resources enhance our light profitable operating efficiencies, extension and drive from Regarding strength of our pleased total the objectives we through future. that May the our that

back Let Jeff. it over me turn to

Jeffrey Edwards

product significant drive change management from few basis how Thanks, in this to fits minutes, our like over to operational change the cost And with the John. into improvements and regional basis our business. will provide and in a next some I'd overall how strategy line some in a insights it you structure,

X maximize we're outlined definitely imperatives XX. next are company. management strategic of that. work, to long-term know the turn relentless to on our going value Through to growth please if objectives. we leadership long-term we and and aggressive, to our intended making our global be The of focus a agile, do responsive more product-based achieve to key hard accelerate have So to to just and imperatives But change certainly Slide to customers level lot get progress. the Last our and year, team markets these refined more is and more our we

and X new accountability and engineering ownership execution of key for providing please turn operations January human more So value-add Slide allocation quickly structure, capital innovations to us in product put complete enabling benefits, to each XX. which place deliver optimizing P&L to our and establishing was resources, already is The effective and including streamlining line, customers.

their In strategies addition, execute product new and customized fully the each of markets. to structure suited to allow group needs will specific the more develop separate

to In position a global Turning sealing Slide we're leader XX. market. in business, certainly strength the the as working our from of

market through enhancing to and opportunistic share market competitive in as our well will We expand of advantage pursuing customers. customer as our and service, support look technology opportunities

by improve expect We return with while aligning opportunities. asset within rightsizing costs our high-growth to and investments capital profitability operations on an

Turning electric XX. highly for hybrid fluids opportunity given for and our in accelerated profitable thermal see requirements management business, growth technical to we greater Slide In vehicles. the

addressable believe well and can proprietary handling advantage to some market as enhancements the competitive to significantly recently business solid average China be competitive our we We in fluid announced innovation share technology Patented to expand market, provide doing we As as on also we total per based electric expect vehicles. of gains. content increase we our enable in innovations will our improve our vehicle market. bring

to Turning Slide XX.

Finally new already efficient. our structure operations streamlined organization place, and with in becoming more are more a

are as certainly both this a payback between million not segments achieve XXXX. in next As our eliminating costs between implementing savings to expected restructuring many $XX $XX technology. on automating opportunities we months. quarter, so. workforce rebounded an The EBITDA million margins imperative do $XX and the enable by related globally. reduce we we be The Beginning it's expect exit to production levels year. have that automotive XXXX. X to quickly processes further a and we'll later $XX optimize savings And year Further, redundancies, salaried will as actions We've expected, save a if identified annualized not plan leveraging had are in double-digit anticipated on full provide to approach, as costs expected million basis operating million to and

could successful year year, assuming for initiatives hold our guidance, production at cost contemplated these represent we XXXX levels. the As planned full savings not related the were an upside developed implementation our volumes initial industry certainly when and plan to

As with provide formal our in update do, results. second a we guidance we on quarter to typically expect conjunction

want to your you we call we all concludes continued support our through times we thank for remarks. and our customers our This industry. we of So stakeholders our as and these prepared for as today. all in thank And the joining work turbulent confidence support

So let's move Q&A. into

Operator

Ladies ask first comes a the you. like Our from Capital. question to gentlemen, you would Ward Thank Instructions] [Operator Michael line and if of from Freedom question,

Your line now is open.

Michael Ward

nature you the sounds will It's there's second like it? very Is the actions payback. look of salary much. in just a Good more you very morning Thank come quick Jeff, this, headcount when details you're that it everyone? quarter, taking, of the at because reductions? but

Jeffrey Edwards

of appreciate continued lot changes the right? lot cost industry, of running Yes, businesses the the I with of those Mike. And the it. we've directly today's a within Obviously, challenges things realign our structure The fact. Yes. are reality. question. new Thanks, that done hands in really organization but of a to the put within has running good company, that's morning these

required the down isn't say, side the certainly were we building once as was infrastructure, the organization. as of it left-hand as support the So chart,

we to to us And next That's customers so dramatically make closer a objectives make it EBITDA agile, our our exit ROIC point be what these we objectives what certainly, lot and measures those be that year lot more and, we're taking XXXX. needs ourselves a move will with a we our particular have to the frankly, double-digit decision-making, support as to believe. costs, double-digit there reduce that to

Michael Ward

And headcount? what percentages tolerate of your global

Jeffrey Edwards

total percentages keep here, talking just tell you folks I the I haven't Mike. it. the We I'll it's we're cost, announced But the detail, No, substantial into of that that. would assume not a just component so about get

Michael Ward

at XXX of XXX EBITDA XXX thing this the range be guidance is So we XXX to saying of given initial your year. somewhere now this equal, current when could adjusted get all looking done being your if to , things you're what in you

Jeffrey Edwards

like I But can to if everybody your Yes. guess exit sit QX. the I question. here We'll We're be? knew ranger I biggest range as here, obviously, always are not would that, be volumes describe as we is that to do lone yes, you accurate your we that today. has. we we mean, going what the the issue then answer

Michael Ward

are well, I a will the in million cost cash cost be sounds the like and a looking assume that with line restructuring Now you're for it as pretty quick $XX at but payback. that charge, and cash

Jeffrey Edwards

Actually, cash 'XX. cash be it Yes. positive cash flow a -- even from a point for will view, flow event of

Michael Ward

mean as of big and the off pretty Okay. I And John, of Mexico some you basis mentioned It continued. the impact has the hit FX, Poland. a on circumstances What that on like were a as far seems points X.X there? it relative almost took margin.

Jonathan Banas

operate the local base various is Mike. in question, dynamic countries the that revenue tied with cost the isn't we stream. here for Thanks The where

in our products locally. manufacture Poland, we for example, there So

cost base in the is So zloty.

is the trading currency regional the However, euro.

opposed in against euro up the it. to we euro So back as Similar tied as in the to So our relative the dollar the certain for whereas shipments The the zloty the costs in terms, into appreciate and really base, go and/or U.S. we the to right? U.S. that's peso, U.S. of manufacture Mexico what's revenue peso. dollars, driving sell is the would our

dollar. So average think down the PHP to year, average the peso about It's $XX.XX. in now coming XX you last about when the quarter, into $XX.XX, the was

base Koruna currency. a to to continues the line top on selling the the to minor as the in And mentioned again, So I RMB, our Czech on peso relative as zloty, extent rises similar well. cost strengthen, the

against really against that's So fixed on. our of hedges what's costs, going We hedge but place do don't that. you XXX%

a takes bit but completely. it not it, So off little bite

Michael Ward

try. forward that can is there or Is you Or you do price? you Going with adjust something just recover?

Jonathan Banas

commercial components them our of them. as as Certain recovery, and not to all of but indices have far arrangements FX

things be continue to or to reengage stay So as back recover our in conversations. exacerbate elevated these But to of that. able customers going we'll XXX% never we're to

Michael Ward

to you like with just of and last alluded accelerate one push it trying thing, but to it, And Jeff, kind industry production of sounds the hybrids.

you're some it, of ICE walk what think the relative hybrids and a say, provide of you type months? on ICE these to electric. content to as over XX side are and used content for sort looking vehicles, I push I fluid next, of What with at particularly, hybrids, between all XX we the to guess, a

Jeffrey Edwards

Mike. That's question, a good

baseline our your an it hybrid, then if that to a particular from meaning would So fluid hybrid the ICE content the we to use we would vehicle. go question, vehicle per would handling double and and supplying our if be we ICEs, would customers almost for vehicle,

Michael Ward

Xx and even higher that. hybrids So is then ICE BEV than

Jeffrey Edwards

the XX%, higher now the is about number we've with you XX% actually, We past. used EBV the would in be to XX%

Michael Ward

Higher to ICE? relative

Jeffrey Edwards

Yes.

So higher per Standard. vehicle solution hybrid definitely content is Cooper for yes. Hybrid the

we're for And out talking the news fact about more that's hybrids that good so there, us.

Operator

next of Capital. Imperial line comes the Our Kirk question from Ludtke from

line is Your open.

Kirk Ludtke

Jeff, the John, I call. appreciate Roger, morning Good

Just with settlements March respect there commercial the there? periods to prior any in from were quarter,

Jeffrey Edwards

in detailed think always we No, last commercial 'XX call, get there's we're going into we all conversations that you. I and Look, talked beyond, Kirk, we as as for on. the

there we've last talked and So of we'll to is, to the magnitude have settlements about but you always year. each quarter, nothing what

let's 'XX and would it it So business I in pricing. just to usual call as say, relates as

Kirk Ludtke

us gave with appreciate Are see that some using Perfect. the guidance. still the that to upside respect estimates quarter? same mentioned I you then production last earlier there's you 'XX you it. it. And you Got to that

Jeffrey Edwards

talked about volumes unchanged. Yes. that are The we

it saw view. then volume some was, we was what guess, February and is know, were a started it. got March would point first recovery bit But from quarter be you March we would how a in challenging I as describe hoping the As I of

little strong start, the overall March a of helped the second related the our year, a So that comments at but a we then a And quarter. slow after typically shot take of to the bit number. rest

how We and stage have a point, for at it quarter X for little anything bit at view decade. you done X adjust that is then that we'll better of a and we've

that to we'll way. So do it continue

Kirk Ludtke

Got the to regions reporting, geographic in you it. were this With Thank the you. EBITDA positive all quarter? respect again

Jeffrey Edwards

Yes.

Kirk Ludtke

it Are were business, from that revenues new the ramping. hybrid the of on percentage or lastly, provide generated first then And appears can quarter both your be to you Great. electric, you, vehicles?

Jeffrey Edwards

have Kirk, front me, mean, to I don't it. provide Yes. I'm you can with get of that in certainly I that. we this at back point. sure can Roger

Kirk Ludtke

it Okay. meaningful? Is

Jeffrey Edwards

continue as what our mean, that certainly seen we progress been we manage it a think business core around to I on but we is. haven't well way. cannibalized, could has I lot moving I say future whole if that of it us,

we been out hadn't our to bunch a as been pushed some So by awarded. we of That money spent told significant new X a that just have that as us much wasn't that's business certain already we've And good. EVs hit because being as are on customers years at.

And run so meantime, run on we in And to continue already we're what just there. the hold longer. we'll

of point going to that's a be to of So an from a probably view. asset benefit bit

and puts I there's complaining. I'm So not but guess overall, takes,

Operator

question from Briggs Inc. comes Our ahead. next of Please the from go Stone line next Ben Financial,

Ben Briggs

taking for guys you questions. the Good morning thank

wins? clarity Is what should both? what be it, line a going quarter, in going it, was this touch revenue on on Is little bit. pricing? minute. a to to on call drivers line, noise Can little you of, revenue revenue actually it top it the of know a me be year-over-year, I a, So it customer if your of be? it, customer were to same more want like you give basis down, the that going X% for revenue Or and is look like let's And combination call a there bit going more was call be but little on trajectory guys same bit new call a up you business are to a there. GAAP to it a just growth I that

Jeffrey Edwards

Yes, this Jeff. is

through of So was went I with think had couple John a you what transactions. we

when that automotive you sold we a top compare So couple up apples-to-apples resulted our look actually of a line quarter businesses down. of revenue, we a in automotive bit versus industry slightly. at for and were the you But the of

about think like. to we details think getting I so more we that I think through going And quarter fourth without this look is any into be as second is year, what to continue

I we but changes So automotive. going think spot obviously, is plan stage. to differently pretty drift at still are expect on go the a overall, markets we business through mean, our fourth that to serve this second, much wouldn't quarter. the and I month would third bit, we as in numbers much say outgrow each I

key the that's think I point.

Ben Briggs

helpful. That's Okay.

fair that So since serve, say market that it outgrowing you your you're revenues winning the markets is share? to

Jeffrey Edwards

think Yes, have the previous going content innovation up, what I terms we're with the vehicle share. forward, here to I to we business, the going given excitement to fluid customer's handling and around sealing given announcement our in in saying, the of expect caller talked that's continue about just what we gain especially we it about and per and fluid

Ben Briggs

Great. That's helpful.

Moving on gross to margins.

down Do XXXX XX-plus should Or call beyond? digits, more it, margin think a percent guys little and year? basis flat sequentially. let's on current that the is up, fiscal we something during to bit, it, a it, hitting You obviously you but XXX close the call call see year-over-year gross about are points that basis. double guys

Jeffrey Edwards

Jeff. This is And XX% I then be. going pretty is clear about yes. to answer what The is was I think

So exit to a ROIC as we company back EBITDA as XX. should and we be double-digit

Ben Briggs

pick? on the will need to to All elected right. or whether cash interest Great. And When your payments elect guys interest know liens, payment then for thing formally December third is, you you cash pay That's me June helpful. there. very your the June that be last I do

Jonathan Banas

Hey Ben, this is John.

have We elect to advance. that in X months

and notes. be election we'll the June both the third by that really, first essentially, line making X, So lien on

Ben Briggs

I you questions. guys appreciate taking much. very the Thanks Okay.

Jonathan Banas

Ben. Thanks, right. All

Operator

from Our from Brian DiRubbio ahead. [Operator line question the of go Baird. Please comes next Again, Instructions]

Brian DiRubbio

questions you. of Good morning couple a gentlemen for

Just structure John, in segment going out are new to the place? you with segment recasted results put

Jonathan Banas

we When reference those. to see each once to then rules today, Yes. going quarter, the you're subsequent put to historical but of quarter first also this issue this And later our segment not in for we'll results of year, the Brian, XXXX. only frame XX-Q full on XX-K, all be comparative we get you obviously of go from going to get X just the there. to XXXX We're for standpoint. We'll SEC there'll way a in the because the back years

So upcoming coming publish as you'll those see we our financials.

Brian DiRubbio

Got it. And ahead. go then sorry,

Jonathan Banas

just to point out I press was previous in that that night the see the well. you issued No, release years going as we last also

So you got the history.

Brian DiRubbio

Yes. got it. I that got Yes, That I

got rim now. Just model to

Just fine.

versus I would you cash So just paid for on you cash cash PIK you you be still flow the would that if coupons free have your were, on question is guess year, if this my pay, positive?

Jonathan Banas

free the you what flow gave free into of details magnitude We cash don't the of cash don't positive. I flow guidance. to that get the be is. expect give Well, general we that We

and So just the have to for that continuing rest to forward. of year the well having 'XX all payment through elect add to debt off obviously that. pay the not only We is We're that. goal QX rolls it clearly, the and I'll then that. quantum in work to But straight to towards able of leave be this not it at

just we'll So I won't at on it that. the pro leave give but you that, guidance adjusted forma

Brian DiRubbio

like a And do year? it next that you'd to global refi your enough. is Fair expectation still

Jonathan Banas

thinking. current our That's

think terms been the improvements the what trajectory, up I all depends the to talking year. that that. of But But in certainly, on next free business, and here environment, that market in in interest continued very our the well about Jeff in like. that be us and production the flow course, base rate of into cost about factors today, go the cash Of thinking of we're sets lot with we environment have improvements a

Brian DiRubbio

on lag And raw it. question been those the we, pricing a your final and butadiene prices is are upward. basis Are trending in just mostly terms Got resets? rubber natural have materials, on of

Jonathan Banas

Yes, Same buys there. Brian, Typically, aluminum X thing a you our Typically, lag. a or quarter a see and again. perhaps it's they're steel or well. John as with on quarter X-quarter

described are are back rolled environment seeing When the cold current what a So thought we you we seeing came have side, been but some we commodity tailwind, but headwinds. also we'd recent steel kind overall side, steel, by the of we we're into trends, on mitigated XXXX, on year. kind to outlook. of for our the flat slight and a commodity That's now that's rubber

Brian DiRubbio

what Got one final And were it. recovery cost you Could for in aggregate? last remind me. me payments year the

Jonathan Banas

were you to the about able take the of cost Are we business? talking out

Brian DiRubbio

the compensate the what No, OE of sort inflation pressures? you for prior year

Jeffrey Edwards

This is Jeff.

We and we ourselves, to keep view, like I of that pricing done a we'll haven't revealed point that, feel a have job. one from we guess, really good

Our at customers last have certainly stood up and the supported end of impact Cooper about year. the Standards requests. We've talked

that, part in our about we about business that's lifting to went most that be much We're the that of that type our in customers for to profitability to order is a cash a equation successful. And to shareholder certainly, to be good well. position position the to think got just money Obviously, the we're But of do. first return bullish clearly, we comments And had how generate impact think negotiate be. level need we And This and to need to in increases could good continuing done. certainly our today to with reflects the I base isn't XX we've it is of price we've still be of cost see can generating increases. quarter. what the we during Frankly, provide the whole our own as You the through. did XX. always consistent improve support ongoing in ourselves

to amount the keep ourselves we'll at stage. So this

Brian DiRubbio

had appreciate I ask. to Fair enough. color. the Still

Jeffrey Edwards

Brian. Thanks

Operator

Please It no Hendrickson. the call more to back ahead. appears Mr. would like that turn now there over go Roger I questions. to are

Roger Hendriksen

concludes appreciate Okay. we Thanks, questions the questions call. our to are we'd didn't or everybody, to address your there This more cover call. for detail. that like and feel in Please We free Thanks the to other out engagement. if joining again. directly reach me

Operator

participation. Ladies conference Thank and you your gentlemen, this call. for today's concludes

You may now disconnect.

Cooper-Standard (CPS) 7 May 242024 Q1 Earnings call transcript