Cooper-Standard's Q3 net income declines 32% y/y despite higher sales

Nov 2, 2017   Tier Suppliers

Cooper-Standard's net income declined 32.2% year-over-year (y/y) to $24.6 million in the third quarter which ended September 30, 2017, the US-based automotive supplier has said.

The company also witnessed a 25.8% y/y drop in operating income to $43.3 million. Cooper-Standard recorded a decline in earnings despite marginal growth in sales reported in the quarter, to $869 million. The company recorded adjusted EBITDA of $96 million and adjusted EBITDA margin of 11.1%.

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