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Cooper-Standard profit misses consensus by 16.9% in Q3

Cooper-Standard Holdings Inc. said its third-quarter normalized net income was $1.97 per share, compared with the S&P Capital IQ consensus estimate of $2.37 per share.

EPS increased 7.1% year over year from $1.84.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $37.0 million, a gain of 9.0% from $33.9 million in the year-earlier period.

The normalized profit margin increased to 4.3% from 4.1% in the year-earlier period.

Total revenue rose year over year to $855.7 million from $827.5 million, and total operating expenses climbed on an annual basis to $786.8 million from $761.7 million.

Reported net income increased 11.3% from the prior-year period to $36.4 million, or $1.94 per share, from $32.7 million, or $1.78 per share.