Mexican Media Brands
Cooper Standard Posts Record Results for 2015
Fourth-quarter sales climbed 11% to $854 million, and operating profits surged nearly fourfold to $28 million for fluid transfer and anti-vibration systems supplier Cooper-Standard Holdings Inc.
#economics
Share
Fourth-quarter sales climbed 11% to $854 million, and operating profits surged nearly fourfold to $28 million for fluid transfer and anti-vibration systems supplier Cooper-Standard Holdings Inc.
Net income for the period swung to a $22 million profit from a $12 million loss in October-December 2014. Adjusted earnings before interest, taxes, depreciation and amortization climbed 27% to $91 million.
Cooper Standard’s full-year operating profit grew 7% to $175 million, and adjusted EBITDA grew 16% to $362 million. Net income surged to $112 million from $45 million in 2015. Sales for the year were flat at $3.3 billion.
RELATED CONTENT
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.