Cooper-Standard: 3Q Earnings Snapshot
NOVI, Mich. (AP) _ Cooper-Standard Holdings Inc. (CPS) on Tuesday reported a third-quarter loss of $13.9 million, after reporting a profit in the same period a year earlier.
The Novi, Michigan-based company said it had a loss of 82 cents per share. Losses, adjusted for one-time gains and costs, came to 31 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.
The auto parts supplier posted revenue of $729 million in the period.
Cooper-Standard expects full-year revenue in the range of $3 billion to $3.1 billion.
Cooper-Standard shares have fallen 42% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $36.12, a fall of 52% in the last 12 months.