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Cooper-Standard Q1 profit climbs 32.6% YOY

Cooper-Standard Holdings Inc. said its normalized net income for the first quarter amounted to $1.90 per share, compared with the S&P Capital IQ consensus estimate of $1.84 per share.

EPS increased 29.5% year over year from $1.47.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $35.5 million, an increase of 32.6% from $26.8 million in the year-earlier period.

The normalized profit margin climbed to 4.5% from 3.3% in the year-earlier period.

Total revenue rose 7.8% on an annual basis to $862.5 million from $800.0 million, and total operating expenses increased 5.4% on an annual basis to $789.5 million from $749.0 million.

Reported net income rose 45.9% from the prior-year period to $30.6 million, or $1.64 per share, from $21.0 million, or $1.15 per share.