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
-
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.
-
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.
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.