Cooper-Standard Holdings Inc., a leading global supplier of sealing, fuel and brake and fluid transfer systems for transportation and industrial markets, has provided an update on its liquidity and announced the dates and details for its first quarter earnings release and conference call.
As of March 31, 2020, Cooper Standard had total liquidity of $465 million, including $302 million of cash on hand and $163 million of availability under its senior asset-based credit (ABL) facility as amended on March 24, 2020. There were no borrowings under the ABL as of the end of the first quarter.
The company says it expects to release full results for the first quarter 2020 after market close on Monday, May 11 and will hold a conference call with the financial community at 9 a.m. ET on Tuesday, May 12. During the conference call, the company’s Chairman and CEO Jeffrey Edwards and CFO Jonathan Banas will discuss Cooper Standard’s first quarter 2020 results, provide a general business update and respond to investor questions.
