Cooper-Standard Holdings Inc. reported its financial results for the fourth quarter and full year 2024 on February 13, 2025, highlighting improved operating income and positive cash flow. For Q4 2024, sales were $660.8 million, a decrease from $673.6 million in Q4 2023, primarily due to unfavorable foreign exchange, price adjustments, and unfavorable volume and mix.
Despite the sales decline, net income for Q4 2024 significantly improved to $40.2 million compared to a loss of $55.2 million in Q4 2023. Adjusted EBITDA more than doubled to $54.3 million from $27.6 million in the prior year quarter, driven by lean manufacturing and purchasing savings, normalized incentive compensation, restructuring savings, and lower raw material costs.
For the full year 2024, sales were $2.73 billion, down from $2.81 billion in 2023, while Adjusted EBITDA increased to $180.7 million from $167.1 million. The company generated $63.2 million in free cash flow in Q4 2024, an increase of $1.1 million year-over-year, and $25.9 million for the full year. Cooper Standard also secured $181.4 million in net new business awards for the full year, with $105.8 million on electric vehicle platforms.
Looking ahead to 2025, Cooper Standard provided initial guidance, projecting sales between $2.7 billion and $2.8 billion and Adjusted EBITDA between $200 million and $235 million. This outlook anticipates improved financial results despite expected lower global light vehicle production and ongoing inflationary headwinds, driven by continued operating efficiencies and the new organizational structure implemented in 2024.
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