Mexican Media Brands
Cooper Standard Posts First-Quarter Sales Record
Cooper-Standard Holdings Inc. reports its sales climbed 8% to a record $863 million in January-March.
#economics
Share
Cooper-Standard Holdings Inc. reports its sales climbed 8% to a record $863 million in January-March. Operating profit nearly doubled to $62 million. Net income surged 46% to $31 million.
The Novi, Mich.-based supplier of automotive sealing, fluid delivery and anti-vibration products says first-quarter sales in North America rose 8% to $450 million. Revenue advanced 1% to $269 million in Europe and 48% to $127 million in Asia Pacific. Sales fell 46% to $16 million in South America.
Cooper Standard anticipates further improvements in growth, profits and cash flow this year. The company reiterates its guidance of full-year revenue of about $3.4 billion compared with a record $3.3 billion in 2015.
RELATED CONTENT
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
VW Warns of Higher Costs to Develop EVs
CEO Herbert Diess says the €20 billion ($23 billion) Volkswagen AG has budgeted to electrify its entire vehicle lineup won’t be enough to meet that goal.